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...
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