Aegon turns its back on pension deals in its home market
The Netherlands is Europe’s second-biggest pension market, but Aegon made little money from deals
Dutch life insurer Aegon has pulled out of the $1.8 trillion market for taking over the management of defined benefit (DB) pension schemes after struggling to make decent profits from the deals.
Aegon stopped competing for pension risk transfers, where an employer transfers a DB pension scheme to an insurer, at the end of last year, according to a spokesman. He declined to say whether the 38-year-old insurer had permanently exited the market.
The Netherlands’ second-biggest insurer has
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