AEGON expands on Eastern European presence
30 June 2008

Written by Harriet Wigmore

AEGON Hungary Pension Fund is set to merge with UNIQA and Public Service Pension Fund in an attempt to further strengthen AEGON’s presence in the ever-developing pensions market across Central and Eastern Europe.

Functioning under the AEGON brand, provided permission is granted by the Hungarian regulatory authorities, AEGON Hungary’s pension fund will have a total of 810,000 members and assets worth around €2bn.

The merger – which will bring AEGON’s total number of pension fund members in the region to 1.5million, an increase of ten per cent - is seen as the first step in AEGON’s strategy of expanding in the Central and Eastern Europe regions, where reform and strong economic growth have lead to a higher demand for pensions, life insurance and other long-term savings and investment products.