September 25, 2018 / 6:25 AM / 2 months ago

Aegon sees one-time benefit of $1 billion from merging U.S. subsidiaries

AMSTERDAM (Reuters) - Dutch-based insurer Aegon (AEGN.AS) said on Tuesday it expects a one-time benefit of $1 billion in capital generation after merging two of its U.S. subsidiaries.

Aegon said it intends to merge its Arizona-based variable annuity captive with Transamerica Life Insurance Company (TLIC), subject to customary regulatory approval, which would release reserves and increase diversification benefits.

Reporting by Toby Sterling; Editing by Andrew Heavens

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