By Sarah Turner
Last update: 2:17 a.m. EDT April 22, 2009
LONDON (MarketWatch) -- Dutch financial firm Aegon (AEG:
AEGON NV
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Last: 4.18+0.13+3.21%4:01pm 04/21/2009Delayed quote data
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AEG 4.18, +0.13, +3.2%) (NL:AGN:
NL:AGN
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NL:AGN, , ) said Wednesday that it will sell its Taiwanese life insurance business, based on a valuation of around 65 million euros at the end of 2008, to Zhongwei Company. The sale will result in a total negative earnings impact of around 400 million euros in the second quarter of 2009, leading to a charge of around 300 million euros to shareholders' equity. Aegon expects the sale of its life insurance activities in Taiwan to positively impact future earnings. The sale is not expected to impact firm's excess capital position and to only have a limited impact on its IGD ratio
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