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Fixed-annuity sales zoom in second quarter
www.investmentnews.com | Aug 25, 2008
Book value annuities, which pay a declared rate of interest for a specified period, brought in the most money, raking in $12 billion in sales, more than double the amount in the year-earlier quarter, the Evanston, Ill.-based annuity research firm said. Indexed annuities followed, posting $6.
http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20080825/REG/823373/-1/RSS02&rssfeed=RSS02
Aegon Scottish Equitable redefines catastrophe cover
www.insurance-business-review.com | May 29, 2008
Aegon Scottish Equitable has redefined its catastrophe limits for group life schemes by looking at concentration of risk by building rather than postcode.
http://www.insurance-business-review.com/article_news.asp?guid=41B614CB-A830-49C7-83C3-484293EF3D89
Picking potential winners if the euro's surge loses steam
www.marketwatch.com | May 16, 2008
After a rough earnings season, European companies stymied by the euro’s surge could be poised for gains if the currency retreats.
Aegon worldwide and UK income tumbles
www.ifaonline.co.uk | May 7, 2008
The company, which has large operations in the Netherlands, US and UK, has attributed the sharp decline to extremely volatile financial markets as well as weaker currencies in both the UK and US. In the UK, net income also plunged in Q1 this year, down 18% to £31m.
http://www.ifaonline.co.uk/public/showPage.html?page=ifa2006_articleimport&tempPageName=792717
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Small caps round-up: Beximco, Medicsight, Mobile Streams - Money Week
Profit before tax for the year to December fell Tk. 399.7m (Bangladeshi Tekka) compared with Tk. 523.2m last year. Net sales decreased by 2.8% to Tk. 3,597m. The group said it was pleased to maintain sales levels despite the unstable business and macro environment.
http://www.moneyweek.com/file/46905/small-caps-round-up-beximco-medicsight-mobile-streams.html
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http://www.flexmanager.nl/en/resume-id-52290-lang-NL.html?s_pos=2
Reactions - China gives Europe nine licences - November 2001
China has agreed to open its market to nine European insurance companies. The European Union has welcomed the decision, which comes less than two weeks after talks ended on the terms of China's entry into the World Trade Organisation (WTO).
http://www.reactionsnet.com/default.asp?page=14&PubID=19&ISS=4897&SID=251684
News from Zibb.com
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Aegon Announces U.K. Securitization Deal - Zibb.com
LONDON, Jul 23, 2008 (A. M. Best via COMTEX) --
The U.K. subsidiary of Dutch financial services group Aegon N.V. announced a securitization agreement worth about 315 million euros (250 million pounds) as part of its effort to increase the capital performance of its U.K. operations.
The deal was carried out by Barclays Capital and taken up by institutional investors. Aegon said the agreement will allow it to ?monetize the value of a portion of future profits from a book of unit-linked business? in the United Kingdom. Over each of the next three years, Aegon Insurance Company (UK) Ltd. will be able to augment the deal with new business.
The agreement, which involves profits of the pension fund of Aegon subsidiary Scottish Equitable plc, will support the group?s strategy of concentrating capital on high-return operations, Aegon said. It is also intended to improve overall performance and bolster the group?s international profile.
"Innovative transactions such as this enable us to manage capital more effectively across the Aegon Group,? said Alexander Wynaendts, Aegon?s chief executive officer and chairman of the executive board, in a statement.
Scottish Equitable plc has a current Best?s Financial Strength Rating of B++ (Good, based on public data)
(By Robert O'Connor, London editor: Robert.OConnor@ambest.com)
Tags: book ceo financial services insurance london securitization
Companies: Aegon N.V. (AEG)
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