AEGON and SCOR completed the Transamerica Reinsurance acquisition, following the final approval of the relevant regulatory authorities. Under the agreement—announced on April 26, 2011—AEGON has divested its global life reinsurance activities with the exception of select blocks of business that are to be retained by AEGON.

AEGON has transferred to SCOR $1.8 billion of assets in cash and securities, and corresponding liabilities (numbers subject to customary closing adjustments). The asset portfolio transferred is made up of cash (55 percent), investment grade corporate bonds (40 percent) selected individually by SCOR’s teams, with an average rating of A-, and U.S. Treasuries (less than 5 percent). The portfolio has no exposure at all to U.S. agency or municipal bonds.

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