At a glance
- Aegon said it expects to repurchase all Common Shares B held by its largest shareholder, Vereniging Aegon, on October 15, in exchange for common shares with equal voting rights on a 40-to-1 basis.
- The move changes how the group is regulated.
- Aegon also plans to become a US tax resident and to switch from IFRS to US GAAP reporting, with its final IFRS period in the first half of 2027 and US GAAP reporting starting with full-year 2027 results.
Aegon shareholders approved the insurer's redomiciliation to the United States at an extraordinary general meeting, clearing the main hurdle for the Dutch-founded group to reincorporate in Delaware and rebrand as Transamerica Inc. The vote covered the redomiciliation and an omnibus incentive plan, Insurance Business America reported, and gives Aegon the mandate to move its legal seat from Bermuda to Delaware and its head office from the Netherlands to New York.
Aegon said it expects to repurchase all Common Shares B held by its largest shareholder, Vereniging Aegon, on October 15, in exchange for common shares with equal voting rights on a 40-to-1 basis. Interim bye-laws approved at the meeting take effect at that point. Vereniging Aegon will be renamed Vereniging Aegon Americas and will keep a stake of about 18.4%; its charitable activities in the Netherlands continue through a newly established foundation, Stichting Aegon Fonds Nederland.
From consolidated solvency to entity-level ratings
The move changes how the group is regulated. Aegon has said it will move from a consolidated solvency view to entity-based capital ratios and ratings, the approach it says US insurers typically use. It has also said the lead and scope of group supervision will be reassessed by the relevant regulators at the time of the redomiciliation. Entity-level ratios are built from the operating companies that hold the business rather than a single group solvency figure, which changes the unit of analysis for anyone tracking the group's capital.
Aegon also plans to become a US tax resident and to switch from IFRS to US GAAP reporting, with its final IFRS period in the first half of 2027 and US GAAP reporting starting with full-year 2027 results. It has said the transition should be completed by January 2028. The New York Stock Exchange is expected to become the primary listing, with a listing retained on Euronext Amsterdam for the time being, and the shares are expected to trade under the symbol TA. Aegon will continue into Transamerica Inc. as a Delaware corporation, keeping its legal personality and converting its existing common shares into Transamerica stock.
Aegon first announced the plan at its Capital Markets Day in December 2025, describing it as a way to sharpen its focus on the US life insurance and retirement market. Transamerica accounts for about 80% of its operations, according to Aegon's shareholder materials. In June the company chose New York City for its corporate headquarters and announced leadership changes to support the move; chief executive Lard Friese will relocate to the US at the beginning of 2027.
Reported by the Insurance regulation desk from Insurance Business America. Published . Corrections