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Aegon to wind down Mexico asset management JV

Aegon NV has decided to wind down its Mexican asset management joint venture, the company announced along with its first-half earnings results.

Speaking to analysts on a conference call Aegon CEO Alex Wynaendts said that the business, Akaan Transamerica, "did not meet our financial objectives." Aegon had announced the joint venture with Mexican wealth manager Administradora Akaan in October 2017.

Separately, Aegon said it expects a €50 million book gain from the sale of the stake in its variable annuity joint ventures in Japan.