Aegon “considers” putting UK business up for sale
The business said it would begin a strategic review of Aegon UK on the day that Cushon was bought by WTW. The more restrained report “consideration” while Citywire simply reports what is evident to most in the pensions industry
Aegon is considering putting its UK business up for sale, it announced in a market update today.
Speaking at its Capital Markets Day 2025 event, the international retirement pension provider and investment platform said it has begun a “strategic review of Aegon UK, evaluating all options, including divestment”.
Aegon’s UK business includes its Aegon Platform (formerly Cofunds), the Aegon Retirement Choices (ARC) Platform, and its workplace pensions arm.
“In the UK, Aegon’s strategy to transform Aegon UK into a leading digital savings and retirement platform, as outlined in June 2024, continues to make good progress and the business remains a reliable and growing source of revenues for the Group,” the firm said in a statement.
“In the context of our stronger focus on the US, Aegon will begin a strategic review of Aegon UK to assess the best way to accelerate and maximise value for all stakeholders. In this review all options will be evaluated, including a potential divestment.”
The business said it will “continue to invest in profitable growth” with respect to its international business, including in Spain & Portugal, Brazil, China, and Transamerica Life Bermuda.
“These businesses, primarily operated through partnerships, will continue to upstream remittances and contribute to the Group’s operating results,” it said.
Reuters confirmed the story – excluding the asset management
The company also said on Wednesday that as part of the U.S. move, it was reviewing its business in Britain, a process that might lead to divestment. The review is expected to be concluded in the first half of 2026.Friese said a possible sale would not include the UK asset management business.
We now must think of Aegon UK as second rate. “Transamerica” is a Bermudian life company owned in America? Well I never.
An insurance owned pension consultancy firm proudly announced this morning that it expects the bulk annuity market to exceed £500Billion over the next decade. That will be another £500Billion pounds removed from the balance sheets of UK employers.