Aegon's US subsidiary settles universal life litigation for $88m

Aegon's US subsidiary settles universal life litigation for $88m

Transamerica, the US subsidiary of Aegon Life Insurance, has agreed to resolve class action litigation relating to monthly deduction rate adjustments on some of its life insurance policies. The $88m settlement was announced today by Aegon Life, the Indian-based parent company of Transamerica. In a statement, Aegon said the settlement "removes the uncertainty of this ongoing litigation for the company and its customers." The Aegon statement went on to explain how "Transamerica impleme...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.