Aegon NV said it’s reviewing its U.K. operations as the insurer considers whether the business fits within the company’s future goals.
The Hague-based firm plans to sell parts of the business and could raise “substantial proceeds” for the company, Sky News said on Wednesday.
"We’ve announced a few quarters ago that in 2015 we would review parts of our U.K. operations,” Debora de Laaf, a spokeswoman for Aegon, said by phone. “That process is ongoing."
Aegon, which is preparing for stricter capital demands next year, lowered its solvency-ratio target, a measure of available capital compared to that required to meet obligations toward policyholders. The lower target will place Aegon’s ratio, which fell in the second-quarter, below that of some competitors.
The shares rose as much as 3.8 percent and were 3.5 percent higher at 5.60 euros at 1:25 p.m. in Amsterdam.