THREE BILLION EURO CASH INJECTION FOR DUTCH INSURER

Dutch insurance giant Aegon is to receive three billion Euros from a government emergency fund. The cash injection is considered necessary in order to strengthen the company's core equity capital.

At a press conference, Dutch Finance Minister Wouter Bos stressed that Aegon is "in incredibly good health". He added, "The general situation is serious to the extent that even the healthiest of companies can get into difficulties. We will help them through these rough times."

Early in October, Aegon's recently appointed chairman, Alexander Wynaendts, announced that his company was faced with a 275-million-euro loss as its investments in failed or nationalised American banks plummeted. The company expects its net loss over the third quarter of 2008 to total 350 million Euros.
read more (radionetherlands.nl)

FINANCIAL OUTLOOK NETHERLANDS BLEAK read more (expatica.com)NETHERLANDS GIVES AEGON $3.7 B. BAILOUT read more (nytimes.com)
DUTCH GOVERNMENT INVESTS 3 BILLION IN AEGON read more (nrc.nl)AEGON GETS €3BN GOVERNMENT CASH read more (dutchnews.nl)

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November 3, 2008