Vienna Insurance Group acquires Aegon Eastern Europe businesses

Deals

Image by Mirko Kuzmanovic / Shutterstock.com

Vienna Insurance Group (VIG) on Sunday said it agreed to acquire the businesses of Dutch peer Aegon in Hungary, Poland, Romania, and Turkey for a price of EUR 830 million, according to a report by state news wire MTI.

Image by Mirko Kuzmanovic/Shutterstock.com

VIG will take over Aegonʼs general and life insurance companies as well as pension funds, asset management, and service companies in the countries. The acquisition will make VIG market leader in Hungary.

The transaction, which must be cleared by regulatory and competition authorities, is expected to close in H1 2021.

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