Aegon to focus on pensions and savings sectors in Romania

Aegon now has more than two million pension fund members in central and eastern Europe

Aegon is to pay some €11mn ($14.8mn) for Banca Transilvania’s 50% stake in BT Aegon, the two companies’ jointly-owned pension business in Romania. While this will give Aegon full control of BT Aegon, the two companies will sign a distribution agreement covering both life and pension products. The bank has decided to pull out of the insurance company to concentrate on its core business of banking.