Aegon takes note of VIG’s announcement regarding Aegon’s business in Central and Eastern Europe
The Hague, December 22, 2021 - Aegon has taken note of an announcement issued today by Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG).
The announcement issued by VIG reads as follows:
“Vienna Insurance Group and Hungary reach an agreement on the outlines of a cooperation and the further procedure regarding the Hungarian insurance companies AEGON and UNION VIENNA INSURANCE GROUP AG.
Wiener Versicherung Gruppe (VIG) and the Hungarian government have reached an agreement on the principles of a cooperation and the further course of action, which provides for a participation of 45% by the Hungarian state in the Hungarian AEGON companies and UNION Vienna Insurance Group BiztosítóZrt.
The structure of the cooperation, which entails the controlling stake of and the operational management by VIG, is subject to further negotiations. The Hungarian government has nominated Corvinus NemzetköziBefektetésiZrt., a 100% state-owned Hungarian holding company, as negotiating partner. VIG welcomes the future cooperation with Hungary. The signing of a Memorandum of Understanding is scheduled for Thursday, 23 December 2021.
As a next step, VIG and Hungary will negotiate the participation and governance structure, will obtain the necessary board resolutions, and will apply for the approvals that are necessary for the implementation of the transaction.”
On November 29, 2020, Aegon agreed to sell its insurance, pension, and asset management businesses in Hungary, Poland, Romania, and Turkey to VIG for EUR 830 million. Aegon will continue to work with VIG to close this transaction.
Aegon’s roots go back more than 175 years – to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in the Americas, Europe and Asia. Today, Aegon is one of the world’s leading financial services organizations, providing life insurance, pensions and asset management. Aegon’s purpose is to help people achieve a lifetime of financial security. More information on aegon.com.
|Media relations||Investor relations|
| Dick Schiethart||Jan Willem Weidema|
|+31(0) 70 344 8821||+31(0) 70 344 8028|
The statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, could, is confident, will, and similar expressions as they relate to Aegon. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Aegon undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include but are not limited to the following:
- Changes in general economic and/or governmental conditions, particularly in the United States, the Netherlands and the United Kingdom;
- Changes in the performance of financial markets, including emerging markets, such as with regard to:
- The frequency and severity of defaults by issuers in Aegon’s fixed income investment portfolios;
- The effects of corporate bankruptcies and/or accounting restatements on the financial markets and the resulting decline in the value of equity and debt securities Aegon holds; and
- The effects of declining creditworthiness of certain public sector securities and the resulting decline in the value of government exposure that Aegon holds;
- Changes in the performance of Aegon’s investment portfolio and decline in ratings of Aegon’s counterparties;
- Lowering of one or more of Aegon’s debt ratings issued by recognized rating organizations and the adverse impact such action may have on Aegon’s ability to raise capital and on its liquidity and financial condition;
- Lowering of one or more of insurer financial strength ratings of Aegon’s insurance subsidiaries and the adverse impact such action may have on the written premium, policy retention, profitability and liquidity of its insurance subsidiaries;
- The effect of the European Union’s Solvency II requirements and other regulations in other jurisdictions affecting the capital Aegon is required to maintain;
- Changes affecting interest rate levels and continuing low or rapidly changing interest rate levels;
- Changes affecting currency exchange rates, in particular the EUR/USD and EUR/GBP exchange rates;
- Changes in the availability of, and costs associated with, liquidity sources such as bank and capital markets funding, as well as conditions in the credit markets in general such as changes in borrower and counterparty creditworthiness;
- Increasing levels of competition in the United States, the Netherlands, the United Kingdom and emerging markets;
- Catastrophic events, either manmade or by nature, including by way of example acts of God, acts of terrorism, acts of war and pandemics, could result in material losses and significantly interrupt Aegon’s business;
- The frequency and severity of insured loss events;
- Changes affecting longevity, mortality, morbidity, persistence and other factors that may impact the profitability of Aegon’s insurance products;
- Aegon’s projected results are highly sensitive to complex mathematical models of financial markets, mortality, longevity, and other dynamic systems subject to shocks and unpredictable volatility. Should assumptions to these models later prove incorrect, or should errors in those models escape the controls in place to detect them, future performance will vary from projected results;
- Reinsurers to whom Aegon has ceded significant underwriting risks may fail to meet their obligations;
- Changes in customer behavior and public opinion in general related to, among other things, the type of products Aegon sells, including legal, regulatory or commercial necessity to meet changing customer expectations;
- Customer responsiveness to both new products and distribution channels;
- As Aegon’s operations support complex transactions and are highly dependent on the proper functioning of information technology, operational risks such as system disruptions or failures, security or data privacy breaches, cyberattacks, human error, failure to safeguard personally identifiable information, changes in operational practices or inadequate controls including with respect to third parties with which we do business may disrupt Aegon’s business, damage its reputation and adversely affect its results of operations, financial condition and cash flows;
- The impact of acquisitions and divestitures, restructurings, product withdrawals and other unusual items, including Aegon’s ability to integrate acquisitions and to obtain the anticipated results and synergies from acquisitions;
- Aegon’s failure to achieve anticipated levels of earnings or operational efficiencies, as well as other management initiatives related to cost savings, cash capital at Holding, gross financial leverage and free cash flow;
- Changes in the policies of central banks and/or governments;
- Litigation or regulatory action that could require Aegon to pay significant damages or change the way Aegon does business;
- Competitive, legal, regulatory, or tax changes that affect profitability, the distribution cost of or demand for Aegon’s products;
- Consequences of an actual or potential break-up of the European monetary union in whole or in part, or the exit of the United Kingdom from the European Union and potential consequences if other European Union countries leave the European Union;
- Changes in laws and regulations, particularly those affecting Aegon’s operations’ ability to hire and retain key personnel, taxation of Aegon companies, the products Aegon sells, and the attractiveness of certain products to its consumers;
- Regulatory changes relating to the pensions, investment, and insurance industries in the jurisdictions in which Aegon operates;
- Standard setting initiatives of supranational standard setting bodies such as the Financial Stability Board and the International Association of Insurance Supervisors or changes to such standards that may have an impact on regional (such as EU), national or US federal or state level financial regulation or the application thereof to Aegon, including the designation of Aegon by the Financial Stability Board as a Global Systemically Important Insurer (G-SII); and
- Changes in accounting regulations and policies or a change by Aegon in applying such regulations and policies, voluntarily or otherwise, which may affect Aegon’s reported results, shareholders’ equity or regulatory capital adequacy levels.
This document contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (596/2014). Further details of potential risks and uncertainties affecting Aegon are described in its filings with the Netherlands Authority for the Financial Markets and the US Securities and Exchange Commission, including the Annual Report. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, Aegon expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Aegon’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
AttachmentTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Scandinavian Tobacco Group A/S: Transactions in connection with share buy-back programme17.1.2022 09:15:00 CET | Press release
Company Announcement No. 3/2022 Copenhagen, 17 January 2022 Transactions in connection with share buy-back programme On 10 March 2021, Scandinavian Tobacco Group A/S (“STG”) announced that a share buy-back programme of an aggregated price of up to DKK 600 million was launched with the purpose to adjust the Company’s capital structure and meet obligations relating to the Group’s share-based incentive programme. The buy-back programme is executed in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. The share buy-back programme will end no later than 28 February 2022. The following transactions have been executed from 10 January to 14 January 2022: Number of sharesAverage purchase price, DKKTransaction value, DKKAccumulated, last announcement4,015,833513,137,59110 January 202221,758137.472,990,98111 January 202214,980
Stolt-Nielsen Limited to Host a Video Conference to Present the Fourth Quarter and Full Year 2021 Results17.1.2022 09:00:00 CET | Press release
LONDON, January 17 , 2022 – Stolt-Nielsen Limited (Oslo Børs: SNI) will host a video conference to present the Company’s unaudited results for the fourth quarter and full year 2021 on Thursday, January 27, 2022 at 14:00 CET (08:00 EST, 13:00 GMT). The presentation and video conference will be hosted by: - Mr. Niels G. Stolt-Nielsen - Chief Executive Officer, Stolt-Nielsen Limited - Mr. Jens F. Grüner-Hegge - Chief Financial Officer, Stolt-Nielsen Limited - Mr. Lucas Vos - President, Stolt Tankers Those who wish to watch the live broadcast may access it here The presentation will be published on our website: https://www.stolt-nielsen.com/en/investors/reports-presentations/ For additional information please contact: Jens F. Grüner-Hegge Chief Financial Officer UK +44 (0) 20 7611 8985 firstname.lastname@example.org Ellie Davison Head of Corporate Communications UK +44 (0) 20 7611 8926 email@example.com About Stolt-Nielsen Limited Stolt-Nielsen Limited (SNL or 'the Company') is a long-term inv
Jetex & Berlin Neuhardenberg Airport to Develop the World’s First Pure Green FBO in Berlin17.1.2022 08:30:49 CET | Press release
Dubai, United Arab Emirates, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Jetex, an award-winning global leader in executive aviation, and Berlin Neuhardenberg Airport announce the signing of a Joint Venture Agreement whereby both parties will work towards the development of a world-class executive aviation terminal and fixed base operation at Berlin Neuhardenberg Airport (EDON). Berlin is one of the top ten private aviation markets in Europe with more than 20,000 annual executive jet movements. “FBO Berlin Neuhardenberg” Special Purpose Vehicle (SPV) to be established in 50-50 joint venture shareholding partnership between Jetex and Berlin Neuhardenberg Airport. Jetex investment subject to certain conditions precedent being met by Berlin Neuhardenberg Airport. Private aviation aircraft operators and owners will benefit from a world-class dedicated FBO that will serve the Berlin, East Germany and Polish border market, offering the highest quality levels of hospitality, service, security and priva
Mika Salokangas appointed as a member of Telko Board of Directors17.1.2022 07:45:00 CET | Press release
Aspo Plc Stock Exchange Release January 17, 2022, at 8.45 a.m. Mika Salokangas appointedas a member of Telko Board of Directors Starting from February 1, 2022, Mika Salokangas, M. Sc. (Econ.), has been appointed to the Board of Directors of Telko Ltd, part of Aspo Group. Previously, Salokangas has served as Managing Director of Ahlsell Oy, as Vice President and in several management positions of Wihuri Oy and as the Managing Director of Agora Networks Oy and Oy Saab-Auto Ab. "I am very pleased that Mika Salokangas will start as a member of Telko's Board of Directors. His diverse background in demanding corporate management positions, and especially Mika's acquisition experience as Ahlsell’s Managing director for more than 10 years, fits well with Telko's compounder strategy," says Rolf Jansson, CEO of Aspo Group. Telko Ltd is an international leading expert in and supplier of plastic raw materials, industrial chemicals, and lubricants. Telko’s operations are based on representing the b
Sampo plc’s share buybacks 14/01/202217.1.2022 07:30:00 CET | Press release
SAMPO PLC STOCK EXCHANGE RELEASE 17/01/2022 at 08:30 am Sampo plc’s share buybacks 14/01/2022 On 14/01/2022 Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI0009003305) as follows: Sampo plc’s share buybacksAggregated daily volume (in number of shares)Daily weighted average price of the purchased shares*Market (MIC Code)17,15044.90AQEU21,65444.90CEUX3,47644.90TQEX88,05144.93XHELTOTAL130,33144.92 *rounded to two decimals On 1 October 2021, Sampo announced a share buyback programme of up to a maximum of EUR 750 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The programme, which started on 4 October 2021, is based on the authorization granted by Sampo's Annual General Meeting on 19 May 2021. After the disclosed transactions, the company owns in total 9,776,009 Sampo A shares representing 1.76 per cent of the total number of shares in Sampo plc. Detail
Telenor Group agrees to sell its stake in Wave Money to Yoma Strategic17.1.2022 01:16:32 CET | Press release
(Singapore/Oslo, 17 January 2022) Telenor Group and Yoma Strategic have entered into an agreement to sell Telenor Group’s 51 percent share of Digital Money Myanmar Limited (“Wave Money”) for USD 53 million to Yoma MFS Holdings Pte. Ltd, a subsidiary of Yoma Strategic. This subsidiary is to be funded by a consortium of investors led by Yoma Strategic which remains subject to completion and final funding. When the transaction is concluded, Yoma Strategic will become the largest and controlling shareholder of Wave Money, ensuring that the company continue operations and further extend its leading role in Myanmar’s fintech sector. Wave Money is a leading provider of money transfer and digital payment solutions in Myanmar. The company was launched in November 2016 as a joint venture between Yoma Bank and Telenor Group, after the fintech pioneer was awarded a license to become the first non-bank institution to work under Myanmar's new Mobile Financial Services Regulation. In 2020, Wave Money
Telenor Group selger sin eierandel i Wave Money til Yoma Strategic17.1.2022 01:16:32 CET | Pressemelding
(Singapore/Oslo, 17. januar 2022) Telenor Group og Yoma Strategic har inngått en avtale om et salg av Telenors 51 prosents eierandel i Digital Money Myanmar Limited («Wave Money») for USD 53 millioner (rundt NOK 470 millioner) til Yoma MFS Holdings Pte. Ltd, et datterselskap av Yoma Strategic. Datterselskapet finansieres av et konsortium ledet av Yoma Strategic, og transaksjonen forutsetter endelig ferdigstillelse av denne finansieringen. Når salget er gjennomført vil Yoma Strategic bli den største og kontrollerende eier av Wave Money og sikre at selskapet fortsetter operasjonen og utvikler sin ledende rolle i Myanmars fintech sektor. Selskapet ble etablert i november 2016 som et joint venture mellom Yoma Bank og Telenor Group. Wave Money er en ledende leverandør av finansielle tjenester og digitale betalingsløsninger i Myanmar. Selskapet ble lansert i november 2016 som et fellesforetak mellom Yoma Bank og Telenor Group, etter at selskapet ble som første ikke-bankinstitusjon tildelt li