Aon Groep Nederland announced it has completed its acquisition of Unirobe Meeùs Group (UMG) from Aegon for €295 million (343.4 million).
The acquisition encompasses the whole of Unirobe Meeùs Group, said Aon, noting that on completion Aon will be the leading insurance broker and risk adviser in all business-to-business market segments in the Netherlands. The combination of forces will strengthen the position of the company in the small-and-medium sized enterprises (SME) sector and consumer markets.
Marc van Nuland, country manager of Aon Netherlands said: “This acquisition will drive value for clients of both UMG and Aon as we combine the knowledge and experience of UMG with Aon’s teams in the Netherlands, as well as with our global network.”
In a separate announcement, Aegon said the transaction is consistent with the company’s strategic objective to optimize its portfolio across its businesses and is expected to result in an increase of the Solvency II ratio of Aegon the Netherlands by an estimated 6 percentage points.
The divestment will lead to a book gain of approximately €180 million ($209.5 million), which will be reported in “other income” in the fourth quarter of 2017, Aegon added. As a consequence of this transaction, annual underlying earnings before tax will decrease by approximately €20 million ($23.3 million) going forward.
Source: Aon
Topics Mergers & Acquisitions Agencies Aon
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