Aegon plans to relocate its headquarters to the United States and change its name to Transamerica Inc. by Jan. 1, 2028, as it seeks to position itself as a major US life insurance and retirement provider.
The move would shift the group’s legal domicile to the US while keeping its main listings in Amsterdam and New York.
Once the re-domiciliation is completed, Aegon Ltd. will take on the Transamerica Inc. name, while operating businesses will keep their existing brands. Transamerica already accounts for about 70% of Aegon’s operations.
The group has been weighing a US-centered corporate setup for some time, with CEO Lard Friese (pictured above) earlier saying that a move to align legal domicile, tax residency, accounting standards and regulation with its main geography was expected to “simplify Aegon’s corporate structure.”
Prior commentary also highlighted that Transamerica’s contribution already “accounts for about 70% of its business.”
Read more: Giant European insurer looks to US move
The company said it will begin reporting under US GAAP with its full-year 2027 results. It also plans to stop issuing quarterly trading updates in 2026 and 2027, with financial disclosures during that period limited to half-year and full-year reports.
Aegon expects to seek shareholder approval for the move at an extraordinary general meeting planned for the fourth quarter of 2026. Its largest shareholder, Vereniging Aegon, has indicated support in principle but will review the detailed terms of the proposal ahead of the vote.
Recent earnings give additional context for the structural shift, with Q3 2025 operating capital generation of €340 million and first-half 2025 net profit of €606 million, compared with a net loss of €65 million in the same period of 2024.
Management has said Aegon is on track to meet all financial targets for 2025, supporting its ability to fund re-domiciliation costs while maintaining capital return commitments.
The US pivot follows earlier portfolio reshaping in Europe, including Aegon’s 2023 sale of its Dutch insurance operations to ASR Nederland for €4.9 billion and the subsequent move of its legal domicile to Bermuda once it no longer had a regulated domestic insurance business.
The relocation is projected to result in about €350 million in one-time implementation costs between the second half of 2025 and the first half of 2028. The group has not disclosed anticipated recurring cost changes following the transition.
Aegon said the shift reflects a strategy to focus capital and management resources on the US market, pointing to demographic trends, a widening protection gap and retirement needs among “Main Street” Americans.
Transamerica plans to drive growth in life and annuity sales through World Financial Group and its Protection Solutions business, while building its pooled retirement plans offering and reducing exposure to legacy financial assets.
Alongside the re-domiciliation, Aegon will launch a strategic review of Aegon UK. The review will consider a range of options, including a possible divestment of the unit.
Outside the US and UK, the group said it will keep investing for profitable growth in its international operations in Spain and Portugal, Brazil, China and Transamerica Life Bermuda.
Aegon also reiterated its capital-return priorities with a new €400 million share buyback to be executed across 2026. It is targeting dividend-per-share growth of more than 5% annually from around €0.40 for 2025, supported by expected 5% yearly growth in operating results and free cash flow through 2027.
