Aegon acquires Ukrainian life insurer

Aegon is acquiring Fidem Life, the fifth-largest life insurance company in Ukraine, from local private equity firm, Horizon Capital.

The move strengthens Aegon’s position in the Central and Eastern European market where it already has operations in Hungary, Poland, the Czech Republic, Slovakia, Romania and Turkey.

The transaction is expected to close in the first quarter of 2013, pending regulatory approval, at which point Fidem Life will be rebranded Aegon Ukraine and integrated into the governance and management structure of Aegon CEE.

The initial focus of Aegon Ukraine will be to grow its life insurance operations, and further develop its agency network.

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Category: Companies News, Insurance News