Report Aegon To Transfer $40.6 Billion To Scottish Asset Management Sub

According to a report from Reuters News Agency, Aegon the Dutch Insurance and Financial Services Group, which also owns Transamerica, is planning to transfer approximately £28 billion ($40.6 billion) to Edinburgh-based Scottish Equitable Asset Management (SEAM), its U.K. fund management subsidiary.

Such an injection of capital would raise SEAM’s assets under management to over £62 billion ($90 billion), and make it a major global player as the third largest Scottish fund manager behind Scottish Widows and mutually-owned Standard Life.

Reuters said that Aegon had not as yet commented on the report, but also indicated that it planned to do so before the end of the year, and had already decided to rebrand SEAM as Aegon Asset Management.