Aegon N.V. has agreed to acquire a 49% interest in a Mexican life insurance company that specializes in selling life insurance in the worksite market.

Aegon, the Hague, Netherlands, is not saying how much it will be paying for the stake in Seguros Argos S.A. de C.V., Mexico City.

Argos, formed in 2002, ranks seventh among life insurers in Mexico in terms of market share for individual policies, Aegon says.

Argos had about 420,000 policies in force at the end of 2005 and $110 million in 2005 premium revenue.

Aegon expects to complete the deal by Sept. 30. Its existing operations in Mexico include Aegon Direct Marketing Services and Transamerica Reinsurance.