State gives €3bn capital injection to Aegon

Tuesday 28 October 2008

The government is to give insurance group Aegon €3bn from its rescue fund for financial institutions hit by the credit crisis. The move was announced by Aegon and the finance ministry on Tuesday morning.

In return for the cash, the state will appoint two members of Aegon’s supervisory board.

‘With this capital injection Aegon can remain a healthy and well run insurance group with a robust capital buffer and this means it is one of the stronger international insurers,’ said the finance ministry in a statement.

Aegon is the second financial institution to get state aid from the €20bn fund set up by the government on October 9 to help fundamentally healthy companies cope with the credit crunch. Earlier this month, ING received €10bn from the fund.

© DutchNews.nl

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