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AEGON Acquires BT AEGON, Signs New Distribution Deal With BT

Banca Transilvania’ stake was originally publicised in January of this year

The Hague-based AEGON, a life insurance, pension and investment company, has completed its acquisition of Banca Transilvania’ (BT) 50% stake in BT AEGON, the Romanian pension business, and remain partners through a new distribution agreement.

The agreement to buy BT’ stake was originally publicised in January of this year. AEGON paid approximately €11 million for the shareholding, which gives AEGON full control over BT AEGON. The acquisition is expected to strengthen AEGON’ position, both in Romania and in the Central & Eastern European region as a whole.

AEGON and BT have signed a new distribution agreement, under which, BT will continue to provide AEGON with life insurance and pension products. The deal allows both BT and AEGON to benefit from the expected growth in the Romanian pension and life insurance markets in the coming years.