M&A Deal Summary

Aegon Acquires Cofunds

On August 11, 2016, Aegon acquired financial services company Cofunds from Legal & General Group for 140M GBP

Acquisition Highlights
  • This is Aegon’s 2nd transaction in the Financial Services sector.
  • This is Aegon’s 2nd largest (disclosed) transaction.
  • This is Aegon’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2016-08-11
Target Cofunds
Sector Financial Services
Buyer(s) Aegon
Sellers(s) Legal & General Group
Deal Type Divestiture
Deal Value 140M GBP

Target

Cofunds

Chelmsford, United Kingdom
website
Cofunds Ltd. is an investment platform that offers pension, wealth administration and management services for financial institutions.

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Buyer(S) 1

Buyer

Aegon

The Hague, Netherlands

website

Category Company
Founded 1983
Sector Insurance
Employees19,889
Revenue 46.1B EUR (2021)
DESCRIPTION

Aegon provides life insurance, pension, and asset management products and services. It offers various life and protection products, including traditional and universal life, as well as endowment, term, employer, and whole life insurance products; and supplemental health, accidental death and dismemberment, critical illness, cancer treatment, credit/disability, income protection, and long term care insurance. Aegon was incorporated in 1983 and is based in The Hague, the Netherlands.

DEAL STATS #
Overall 7 of 8
Sector (Financial Services) 2 of 2
Type (Divestiture) 2 of 2
Country (United Kingdom) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 Aegon NV - Commercial P&C Portfolio

Netherlands

Aegon NV - Commercial P&C Portfolio comprises commercial property and casualty insurance portfolio with a total volume of about 90 million euros and two run-off portfolios: authorized agents and co-insurance. The business is located in the Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-08 Unirobe Meeùs Groep B.V.

The Hague, Netherlands

Unirobe Meeùs Groep B.V. (UMG) is a provider of independent advice and insurance products to approximately 580,000 retail and 75,000 wholesale customers. Unirobe Meeùs Groep B.V. is based in The Hague, Netherlands.

Sell €295M

Seller(S) 1

SELLER

Legal & General Group

London, United Kingdom

website

Category Company
Founded 1836
Sector Financial Services
Employees11,498
Revenue 45.5B GBP (2021)
DESCRIPTION

Legal & General Group is a large insurance and investment management company. Legal & General is divided into four business segments. These include Legal & General Retirement, Legal & General Investment Management, Legal & General Capital, and Legal & General Insurance. Legal & General was founded in 1836 and is based in London, the United Kingdom.

DEAL STATS #
Overall 7 of 10
Sector (Financial Services) 3 of 3
Type (Divestiture) 7 of 8
Country (United Kingdom) 4 of 6
Year (2016) 3 of 4
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-15 Suffolk Life Group

Ipswich, United Kingdom

Suffolk Life Group Ltd. is a provider and administrator of specialist pension products, primarily Self-Invested Personal Pensions (SIPPs). It has total assets exceeding £5 billion. Suffolk Life owns over 2,700 properties for over 4,000 SIPP investors.

Sell £45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-24 Legal & General Nederland Levensverzekering Maatschappij N.V

Hilversum, Netherlands

Legal & General Nederland Levensverzekering Maatschappij N.V is a Dutch life and pension insurer provider. Legal & General Netherlands is covered by all Dutch laws and regulations and under the supervision of the Dutch Central Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM).

Sell €160M
Mergr

Product

Company

Legal