Aegon to sell its UK business to Standard Life

The Netherlands-based insurer Aegon is selling its subsidiary Aegon UK to the British group Standard Life for 2 billion GBP (2.7 billion USD).

Under the terms of the agreement, Standard Life will pay 750 million GBP (1.01 billion USD) in cash and issue 18.1 million shares, representing a 15.3% stake, to Aegon, which will become a strategic shareholder and asset management partner in the company.

Subject to approval from the relevant authorities, the transaction is expected to be completed by the end of 2026.

This divestment is part of Aegon’s strategy to position itself as a leading group specializing in life and pension insurance by 2028.