NN Group Acquires Aegon Czech Republic and Aegon Slovakia

NN Group announced today that it has reached an agreement to acquire Aegon’s Life Insurance business in the Czech Republic and Aegon’s Life Insurance and Pension businesses in Slovakia for a total consideration of EUR 155 million.

This transaction is in line with NN Group’s strategy to achieve profitable growth and value creation. This bolt-on acquisition will strengthen NN’s position in the Life insurance market and its distribution network in the Czech Republic and Slovakia, and will further strengthen its leading position in the Slovakian Pension market.

The transaction is subject to regulatory approvals, and is expected to close by the end of the first quarter of 2019.