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Aegon agreement to buy Merrill Lynch Life Insurance has no rating impact - Fitch


Published : Wed, 15 Aug 2007 04:29
By : Agencies
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MUMBAI (Thomson Financial) - Fitch Ratings said Aegon NV's agreement to buy Merrill Lynch Life Insurance Company and ML Life Insurance Company of New York from Merrill Lynch & Co Inc will have no rating impact.

The acquisition represents less than 5 pct of Aegon Americas 299 bln usd revenue generating investments at June 30, Fitch said.

It added the net purchase price of 875 mln usd is expected to be paid out of excess capital and will not affect Aegon NV's recently announced 1 bln eur share repurchase programme.

TFN.newsdesk@thomson.com

jro/jro

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