Today, Aegon has successfully completed the sale of Aegon Ireland plc to Athora Holding Ltd. (formerly AGER Bermuda Holding Ltd.).
The net proceeds of the transaction are expected to amount to approximately GBP 170 million (EUR 195 million).
The transaction is consistent with Aegon's strategic objective to optimize its portfolio of businesses and will further increase its financial flexibility. Aegon's group solvency ratio is expected to improve by approximately 4%-points as a result of the transaction.
The divestment is expected to lead to a book loss of approximately GBP 85 million (EUR 95 million), which will be reported in Other charges in the first half of 2018. This divestment is expected to have an immaterial impact on underlying earnings before tax going forward.