Aegon latest to shun Russian investments amid ‘exceptional’ circumstances in Ukraine
Dutch insurance group Aegon has joined a rundown of companies that are cutting investments and pulling out of Russia in response to the invasion of Ukraine.
Aegon has vowed to not make any future investments in Russia or Belarus-based companies, as well as look to reduce its existing investment exposure in the country given the current “exceptional” circumstances.
Aegon has €27 million of general account investments in Russia, based on the book value as per March 3, 2022. It does not have any investments in Belarus, according to the company.
The insurer has updated its Responsible Investment Policy that applies to all general account investments where Aegon has full management control. The policy excludes investments in any form of Russian and Belarus government-issued debt, such as government bonds.
The company, however, clarified that “investment decisions for third-party investments and investments for account of policyholders, are not within Aegon's control. Aegon encourages its business units to discuss Aegon’s policy positions with their respective clients.”
“ Aegon will look at options to reduce its existing investment exposure in a thoughtful way, while taking into account the interests of all stakeholders,” the insurer said in a statement.
These decisions are in line with the response of the international business community and the international sanctions imposed on Russia following the invasion of Ukraine, Aegon concluded.
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze