The Dutch insurer Aegon NV is considering add-on acquisitions in the United States, for which it has nearly $1.8 billion of excess capital, an executive board member said Friday.
The excess capital "is the minimum available," Alexander Wynaendts said, "but we could also issue some shares to fund acquisitions."
Almost 75% of Aegon's operating earnings before tax are generated in the United States, where the company is better known under its Transamerica brand. It was the No. 8-ranked seller of annuities through U.S. banks late last year and was No. 6 in fixed annuities, according to Kenneth Kehrer Associates, a Princeton, N.J., consulting firm that tracks bank sales.
Mr. Wynaendts said that in a consolidating financial services industry Aegon sees many opportunities to buy or to expand its distribution capacities.
Outside the United States, it is interested in entering markets such as Mexico, Japan, South Korea, India, Germany, and Italy.
