Aegon Said to Explore Sale of Transamerica Business in Asia
- Insurer is exiting peripheral markets under CEO Lard Friese
- Asia unit could fetch at least $700 million in any sale
A cyclist passes the Aegon NV headquarters in the Hague.
Photographer: Jock Fistick/Bloomberg
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Aegon NV is exploring a sale of its Transamerica business in Asia as it pushes ahead with plans to exit non-core markets, according to people familiar with the matter.
The Netherlands-based insurer has asked an adviser to help find a buyer for the unit, which offers a range of insurance and savings products to high-net-worth clients in Hong Kong, Singapore and elsewhere, the people said. The Asia operation could fetch at least $700 million in any sale, the people said, asking not to be identified discussing confidential information.