(Reuters) – Dutch insurer Aegon NV <AEGN.AS> on Thursday said it would sell part of the remaining stake it holds in U.S. life insurance unit to France-based property and life reinsurer Scor SE <SCOR.PA>.
The deal covers about half of the life reinsurance business that Transamerica retained after an earlier stake sale to Scor in 2011.
Transamerica life subsidiaries would reinsure approximately $750 million of liabilities to Scor under the terms of the deal, the Netherlands-based insurer added.
The transaction is expected to result in a pre-tax loss of about $125 million and will be reported in other charges in the fourth quarter 2017 results, Aegon said.
(Reporting by Mekhla Raina in Bengaluru; Editing by Vyas Mohan)