Aegon to focus on core activities, more details due later on Tuesday
Insurance group Aegon is taking ‘steps to sharpen its focus on core activities’ the company said in a statement on Tuesday.
The company said it is to ‘explore strategic options’ for its life reinsurance business, including identifying suitable buyer, and to restructure and re-focus its British insurance business, with target cost reductions of 25% by the end of 2011.
CEO Alex Wynaendt is due to give more details at a meeting in London later on Tuesday. At the weekend, British newspapers reported that Aegon UK could be sold off.
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