Aegon Modifying U.S. Variable Annuity Products
The Dutch insurance and financial services giant Aegon appears to be rethinking its U.S. based variable annuity business.
It is reported that Aegon is making a move to apply a macro equity hedge to its in-force variable annuity contracts.
The company is also considering the sale of its life reinsurance business, Transamerica Re.
During a recent presentation, Aegon company executives discussed the company's desire to move away from spread-based products, and move towards fee-based products such as 401k and 403b savings vehicles.
The company will also place an increased focus on dominating the worksite marketing channels in the United States, as well as certain foreign markets such as Eastern Europe, Central Europe, Asia and Latin America.
Clearly the company is positioning itself in light of what it considers to be profitable growth opportunities on a longer-term basis.
Source: National Underwriter
