Aegon agrees to acquire Transamerica; insurers' $9.7 billion deal marks the latest move to consolidate industry

Article Abstract:

Dutch insurance company Aegon NV acquires a U.S. market footprint by acquiring Transamerica Corp. for $9.7 billion. The deal will be paid 70% in stock and 30% in cash and includes $1.1 billion in debt. Aegon inherits the striking pyramid-shaped building where Transamerica is headquartered in downtown San Francisco along with the ranking of third biggest life insurance company in the U.S. and second largest reinsurer.

Comment:

Bought by Aegon for $9.7 billion

Asset sales & divestitures, Acquisitions & mergers, Netherlands, Foreign operations, Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Reinsurance, Reinsurance Carriers, Mergers, acquisitions and divestments, Insurance industry, AEGON N.V., Transamerica Corp., TA

---

Allstate defies expectations in efforts to boost revenue; insurer to announce joint venture with Putnam to sell variable annuities

Article Abstract:

After only two months in the job, chairman of Allstate Corp., Edward Liddy, isn't happy with $1.9 billion a year sales of variable annuities. The company is expected to announce that it will partner with Putnam in a joint venture to take it from 20th in such sales to one of the top five.

Comment:

Joint venture with Putnam is possible to boost sales of variable annuities

Strategy & planning, Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Surety insurance, Planning, Property and casualty insurance, Property and casualty insurance industry, Allstate Corp., ALL, Variable annuities

---

Similar abstracts:

• Abstracts: Woolworth to start operating tjoday as Venator Group. IP agrees to acquire Union Camp Corp.; stock deal for $5 billion lifts rival's shares 33%; buyer to assume debt
• Abstracts: LSI Logic agrees to acquire Symbios from Hyundai in a $760 million deal. Medtronic agrees to buy Physio-Control in a stock deal valued at $538 million
• Abstracts: Swiss Reinsurance to buy Life Re for $1.8 billion. Chubb Corp. to buy Executive Risk Inc. in stock deal valued at $810 million
• Abstracts: Provident Cos. and Unum agree to merge; deal valued at $5.2 billion would unite leaders in disability insurance
• Abstracts: A maverick of sofas rearranges the furniture business. Levitz plans to cut 25% of work force, close 27 stores in latest recovery effort

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.