Aegon To Sell Stonebridge - Quick Facts

(RTTNews) - Aegon announced the company will sell Stonebridge to Global Premium Holdings group, part of Embignell group. The net proceeds of approximately GBP 60 million consist of the purchase price and dividends related to the transaction, and exclude a contingent consideration of up to GBP 10 million.

Stonebridge is a direct to consumer insurer specializing in accidental death and hospitalization products that provides policies to customers across the United Kingdom, Germany, France, Spain, Italy, the Nordics and Ireland. Aegon noted that, since 2014, Stonebridge has been closed for new business. Aegon does not anticipate the deal to have a material impact on the company's capital position and results.