Financial Supermarkets? Aegon Says `Bah!'

In merger-made Europe, the insurer is set on going solo

Kees J. Storm, chairman of the executive board of Dutch insurer AEGON, bristles with defiance. Most European insurance companies are bracing for a single-currency Europe in which formerly homebound financial products can easily be sold in any country on the Continent. His counterparts are rushing to merge with peers in other nations or hook up with banks that can give them Europewide distribution. Not Storm. Where others see a strategic imperative, the 56-year-old Storm sees folly. "Bank tellers don't deal well with insurance claims," he says.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.