AMSTERDAM, May 23 (Reuters) - Dutch insurer Aegon said onMonday that the divestment of its remaining annuities businessesin Britain to Legal and General Group will lead to animprovement of up to 20 percent in its solvency ratio in thatcountry.
Aegon's shares declined as much as 10 percent on May 12 whenit reported first-quarter earnings showing company wide solvencyunder Europe's new Solvency II regime falling to 155 percentfrom 160 percent..
The company announced on Monday that it is transferring 3billion pounds ($4.4 billion) worth of annuities liabilities toLegal and General in a two-step process. ($1 = 0.6886 pounds) (Reporting by Toby Sterling; Editing by David Goodman)
Legal & General (LGEN)
