A large insurer has succeeded once again at tapping world capital markets to help it handle mortality risk.

AEGON N.V., The Hague, Netherlands, says it has closed on an offering of $550 million in 30-year maturity life securitization securities issued by a subsidiary, LIICA Holdings L.L.C.

The issue proceeds will be used to fund Regulation XXX term life reserves in the United States, AEGON says.

The securitization deal, one of several AEGON has completed, is an alternative to conventional letter-of-credit reserve arrangements, AEGON says.