CANADA/TURKEY - AEGON Canada's investment accounting employees are to join RBC Dexia in Toronto, as part of strategic alliance between the two firms.
Paul Reaburn, president and CEO, AEGON Canada, said: "The outsourcing of investment accounting supports AEGON Canada's strategy of focusing on our core business, which is the manufacturing of life insurance and investment products."
José Placido, CEO, RBC Dexia, added: "There is a strong cultural alignment between our two companies, including a shared commitment to client service excellence. We look forward to a long term, mutually beneficial working relationship with AEGON Canada.
AEGON has also announced it has finalised the acquisition of Turkish life and pensions provider Ankara Emeklilik, which began in February this year.
Gabor Kepecs, the member of AEGON's Board responsible for Central & Eastern Europe, said: "In June, when we presented our new group strategy, we said we wanted to build scale in emerging markets like Central & Eastern Europe - markets that offer sustainable, profitable growth in the years ahead. The acquisition of Ankara Emeklilik is very much part of this strategy."
Ankara Emeklilik has over 58,000 pension members in Turkey, with assets under management of €35m (US$55m). AEGON said the acquisition was part of the company's wider Central and Eastern European strategy, which took the number of territories it was active in to six - Hungary, Poland, Slovakia, the Czech Republic, Romania and Turkey.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.