Moody's on Dec. 20 affirmed Aegon NV's A3 long-term issuer rating and senior unsecured debt rating and revised the outlook on the Dutch insurer to stable from negative.
Moody's also affirmed the A1 long-term insurance financial strength ratings of Transamerica Life Insurance Co., Transamerica Premier Life Insurance Co. and Transamerica Financial Life Insurance Co., collectively Aegon USA. The outlook on the ratings is stable.
Aegon's outlook revision and ratings affirmation were based on the ratings affirmation of Aegon USA, as well as the "good level of geographic diversification" that the group has maintained over the past two years and which Moody's expects the group to maintain.
The outlook on AEGON Funding Co. LLC and Commonwealth General Corp. were also changed to stable from negative.