Aegon has taken an important step in China with the launch of Aegon Insurance Asset Management Company (Aegon IAMC), a wholly owned insurance asset management business based in Shanghai. Aegon IAMC is only one of four wholly owned foreign insurance asset management companies approved in China. The company began trading on February 2, 2026, after completing final preparations following the insurance asset management business license approval in June 2025. The new entity will initially manage the general account portfolio of Aegon’s Chinese life insurance joint venture, Aegon THTF, with plans to expand to institutional third-party clients over time.
“Being granted this license and the subsequent start of trading mark a major achievement and a real step forward for us,” said Marco Keim, CEO Aegon International. “It opens the door to new opportunities and allows us to build our presence in China, a market that’s transforming quickly. We will draw on the capabilities and experience we’ve developed across Aegon, and I’m looking forward to working with our teams to translate this momentum into real progress and strengthening our position in China to create long-term value for our customers and the business.”
Positioned for long-term growth
China is the world’s second-largest insurance market, and its capital markets are continuing to mature and open up to long-term investors. Currently, insurers in China are limited in what they can invest in without an insurance asset-management license. With the launch of Aegon IAMC, Aegon can now access these long-duration opportunities directly. This includes investments in infrastructure, renewable energy, and other long-term asset classes that align well with Aegon’s long-term investment approach and support strong asset-liability management, strengthen the balance sheet, and enable Aegon IAMC to play a growing role in China’s expanding retirement and pension landscape.
One of only a few approvals nationwide
Securing the insurance asset management business license required navigating a highly selective regulatory framework. It follows a multi-year regulatory process, involving municipal and national approvals, and reflects China’s continued opening of its financial markets to foreign investment institutions. While similar licenses often take five to seven years to obtain, Aegon completed the process in three and a half years, demonstrating both the strength of its local presence and the effectiveness of its regulatory engagement.
Looking ahead
The opening of Aegon IAMC marks a significant strengthening of Aegon’s position in Asia and reinforces the company’s long-term commitment to China. Aegon IAMC brings together
Aegon’s global investment expertise with the experience of our teams on the ground in China. Now that operations have begun, the focus shifts to building depth: continuing the transfer of assets from Aegon THTF, expanding investment capabilities, and strengthening relationships with regulators and industry partners. As Aegon builds its presence in one of the world’s most important financial markets, Aegon IAMC is poised to contribute meaningfully to the country’s investment landscape, and to the millions of people seeking financial security for the future.
