AEGON and Religare have reached an agreement with India's leading media conglomerate Bennett Coleman and Company Ltd. that would further strengthen their proposed venture to provide life insurance products across India. AEGON and Religare signed a memorandum of understanding in early July 2006.
Under the terms of the agreement, Bennett Coleman would have a thirty percent stake, Religare a forty- four percent stake, with AEGON holding the remaining twenty six percent.
Bennett Coleman and Company Ltd. is the most prominent media house in the country with interests in print, television, radio and internet.
AEGON and Religare cite Bennet Coleman’s expertise in creation of brands and strategies in marketing as factors that would significantly enhance the partnership.
Parties aim to sign final agreements in the coming months and expect to have the partnership operational in the second quarter of 2007.
AEGON is one of the world’s largest life insurance and pension companies, and a strong provider of investment products. AEGON’s business model is to empower local business units to identify and provide products and services that meet the evolving needs of customers, using distribution channels best suited to local markets. AEGON takes pride in balancing a local approach with the power of an expanding global operation.
With headquarters in The Hague, the Netherlands, AEGON companies employ approximately 27,000 people. AEGON’s three major markets are the United States, the Netherlands and the United Kingdom. In addition, the Group is present in a number of other countries including Canada, China, Czech Republic, Hungary, Poland, Slovakia, Spain and Taiwan.
Respect, quality, transparency and trust constitute AEGON’s core values as management and employees continually strive to exceed the expectations of customers, shareholders, employees and business partners. AEGON is driven to deliver new thinking and its ambition is to be the best in the industry. Website: www.aegon.com