Aegon CEO warns of EU exit ahead of Solvency II

Laura Miller
clock

Aegon could relocate outside the European Union (EU) to stay competitive with global rivals once Solvency II comes into force, its CEO warns.

Alex Wynaendts told a conference in London yesterday the demands of the European-wide capital regime risks making the EU a less attractive base for the insurer's business. Aegon's CEO told delegates he is in talks with regulators to ensure a "level-playing field" with global providers, but says exiting Europe is another option open to the insurer, Reuters reports. "We are saying to our regulators if we want to be able to compete globally, we have to make sure there is a level playing field. "One option is of course changing our business model but I don't think that is the only opti...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The rarely discussed barriers to closing the advice gap

The rarely discussed barriers to closing the advice gap

'The real issue isn't just access, it's attitudes, representation, and engagement'

Harry Webster
clock 04 April 2025 • 7 min read
The Apprentice stars call for more financial advice as online businesses surge

The Apprentice stars call for more financial advice as online businesses surge

‘Crucial that young entrepreneurs receive the right guidance to manage their finances’

Sahar Nazir
clock 03 April 2025 • 2 min read
Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

20% on EU, 10% on UK

Sorin Dojan
clock 03 April 2025 • 2 min read