M&A Deal Summary

Vienna Insurance Group Acquires Aegon NV - Central and Eastern European Business

On November 29, 2020, Vienna Insurance Group acquired insurance company Aegon NV - Central and Eastern European Business from Aegon for 830M EUR

Acquisition Highlights
  • This is Vienna Insurance Group’s 10th transaction in the Insurance sector.
  • This is Vienna Insurance Group’s largest (disclosed) transaction.
  • This is Vienna Insurance Group’s 1st transaction in Hungary.

M&A Deal Summary
Date 2020-11-29
Target Aegon NV - Central and Eastern European Business
Sector Insurance
Buyer(s) Vienna Insurance Group
Sellers(s) Aegon
Deal Type Divestiture
Deal Value 830M EUR

Target

Aegon NV - Central and Eastern European Business

Budapest, Hungary
Aegon NV - Central and Eastern European Business (CEE) includes insurance companies, pension funds, asset management, and service companies with a premium volume of around EUR 600 million, a managed pension fund volume of around EUR 5 billion and brings an additional customer base of 4.5 million customers in total. After successful closing of the acquisition, Vienna Insurance Group will rise from 6th place to market leader in Hungary. CEE Business is based in Hungary, Poland, Romania and Turkey.

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Buyer(S) 1

Buyer

Vienna Insurance Group

Vienna, Austria
Category Company
Founded 1824
Sector Insurance
Employees30,130
Revenue 11.6B EUR (2023)
DESCRIPTION

Vienna Insurance Group is well established in all lines of business and thus offers a comprehensive customer-oriented portfolio of products and services with around 50 Group companies and around 25,000 employees in 25 countries. Vienna Insurance Group was incorporated in 1824 and is headquarters in Vienna, Austria.

DEAL STATS #
Overall 11 of 11
Sector (Insurance) 10 of 10
Type (Divestiture) 4 of 4
Country (Hungary) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-18 Seesam Insurance AS

Tallinn, Estonia

Seesam Insurance AS is a provider of insurance services. Seesam also has offices in Latvia and Lithuania. It has over 200,000 customers and sells its non-life products across all distribution channels. In 2016 the company reported gross written premiums of around EUR 60 million. Seesam currently has 335 employees. In the first six months of 2017, Seesam had a 5.7 percent share of the non-life insurance market in the Baltic states, and a total market share of 4.2 percent.

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Seller(S) 1

SELLER

Aegon

Hague, Netherlands
Category Company
Founded 1844
Sector Insurance
Employees19,889
Revenue 29.5B EUR (2023)
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 Hague, Netherlands.

DEAL STATS #
Overall 5 of 5
Sector (Insurance) 4 of 4
Type (Divestiture) 5 of 5
Country (Hungary) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-16 Robidus Groep B.V.

Zaandam, Netherlands

Robidus Groep B.V. is a full-service player around sickness and disability and the associated risks and costs affecting employers and insurers. Robidus offers advisory, outsourcing services, and insurance intermediation to corporates and some outsourcing services around claims handling to insurers. Robidus Groep B.V. was founded in 2003 and is based in Zaandam, Netherlands.

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