Aegon used Capital Markets Day 2025 to lay out plans to become the leading life insurance and retirement group in the United States and move its headquarters and legal location to the United States, with the goal of completing the transition by January 1, 2028.
Upon completion of the relocation process, the holding company Aegon Ltd. will be renamed Transamerica Inc., while the business units will continue to operate under their existing brands.
The company noted that its decision to relocate its headquarters and statutory domicile following a review announced in August 2025 supports its commitment to prioritizing resources to build the nation’s leading life insurance and retirement group.
Aegon said it plans to hold a special shareholder meeting in the fourth quarter of 2026 to seek shareholder approval for the move.
According to reports, the company’s largest shareholder Vereniging Aegon believes that the decision to move Aegon Ltd. to the United States is an important and positive step for Aegon.
With this in mind, Vereniging Aegon said it will review and constructively consider any upcoming proposals regarding the impact of relocation to the United States on Vereniging.
Aegon explained that it expects the transition between the second half of 2025 and the first half of 2028 to incur one-time implementation costs of approximately €350 million.
To facilitate the transition, Aegon said it would stop publishing trading updates in 2026 and 2027, limiting disclosures to comprehensive half-year reports.
Following the relocation, Transamerica Inc.’s common shares will continue to be listed on Euronext and the New York Stock Exchange.
Lard Friese, CEO of Aegon, commented: “Today marks a historic moment in the transformation of our company. Over the past five years, we have successfully transformed Aegon into a strong, focused, high-performing group.
“Now, we are ready to move on to the next frontier: fully seizing the opportunity in the world’s largest life insurance market: the United States. Transamerica now accounts for approximately 70% of our business, and we are well-positioned to serve a large and underserved segment: Main Street American households and mid-sized companies. Aegon’s goal is clear: We want to be the leading life insurance and retirement group in the United States.”
Frith added: “Our decision to relocate to the US has had a profound impact on the organization and defined who we are. I realize that this decision will ultimately have a significant impact on our colleagues at our headquarters in the Netherlands. We will work hard to support our colleagues throughout this process.”
“While this was not an easy decision to make, it fully considers the realities of our business and prioritizes resources to build a leading franchise in the United States. Once the relocation is complete, Aegon will change its name to Transamerica Inc. and become a U.S.-based life insurance, annuity and retirement group with international insurance and asset management subsidiaries.”
Aegon also announced at Capital Markets Day 2025 that in line with its strategy to reduce capital in legacy financial assets, it has elected to reinsure a batch of secondary guaranteed universal life (SGUL) contracts.
The transaction covers 30% of the face value of Transamerica’s SGUL business and, when combined with previously executed management actions, brings the total value to 80% of SGUL’s total investment portfolio.
It reduced total capital employed by $300 million to $2.7 billion, far exceeding its 2025 reduction target.
“The transaction is priced in line with the global insurance group’s best estimate assumptions and has minimal impact on the company’s IFRS valuation equity and operating profit, while eliminating potential differences and risks related to future mortality and policyholder behaviour,” the company explained.