LONDON, June 22, 2010 /PRNewswire-FirstCall/ -- International insurance and pensions group AEGON has today updated the market on its strategy. The announcement centres around the restructuring of AEGON's business in the UK and options for the Group's reinsurance business, Transamerica Re.
Speaking in an interview broadcast on financial news portal http://www.cantos.com, CEO Alex Wynaendts said that AEGON is focusing on areas with "higher potential for growth and higher returns."
The restructuring in the UK is expected to reduce costs by 25 percent and lead to a return on capital of "8 to 10 percent by 2014", whilst AEGON is "exploring strategic options" for Transamerica Reinsurance.
Mr Wynaendts also restated the Group's strong capital position and the opportunities for change in the insurance industry that he sees coming as a result of the challenging market environment.
The interview and transcript are available now on http://www.cantos.com/company/AEGON.
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SOURCE AEGON N.V.