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Aegon Shelves Sale of Transamerica Business in Asia, Sources Say

  • Process on hold after bids didn’t match valuation expectations
  • Assets had drawn interest from insurers, investment funds
Transamerica offers a range of products to high-net-worth clients in Hong Kong, Singapore and elsewhere.

Transamerica offers a range of products to high-net-worth clients in Hong Kong, Singapore and elsewhere.

Photographer: Ore Huiying/Bloomberg

Aegon NV’s plan to divest its Transamerica business in Asia has stalled amid valuation concerns, according to people familiar with the matter.

The unit, which offers a range of insurance and savings products to high-net-worth clients in Hong Kong, Singapore and elsewhere, attracted interest from other insurers and investment funds, the people said. A sale has been put on hold after bids didn’t match Aegon’s expectations, the people said, asking not to be identified because the matter is private.