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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
August 14, 2007 at 01:19 PM
AEGON N.V. has agreed to pay $1.3 billion in cash for Merrill Lynch Life Insurance Company and ML Life Insurance Company of New York.
AEGON, The Hague, Netherlands, and Merrill Lynch & Company Inc., New York, hope to complete the deal by Dec. 31, AEGON says.
Merrill Lynch has been using the companies it is selling to issue variable annuities.
“Merrill Lynch expects to record a significant gain on the sale during the fourth quarter of 2007,” AEGON says.
Merrill Lynch will continue to sell annuities through its financial advisor network, and the companies AEGON is acquiring will continue to issue the annuities, AEGON says.
AEGON’s Transamerica subsidiaries will help Merrill Lynch advisors sell variable annuities, AEGON says.
Merrill Lynch Life and ML Life generated about $800 million of variable annuity sales in 2006, and they held about $10 billion in variable annuity assets at the end of 2006.
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