The Dutch competition regulator ACM has given its approval for insurer ASR to acquire the Dutch operations of Aegon, a competing company.
In October, Aegon announced that its domestic insurance operations would be acquired by its smaller rival in a cash and shares transaction valued at approximately 4.9 billion euros ($5.3 billion). ASR will take its place as the second-largest insurer in the country.
The regulator stated that the proposed deal would maintain sufficient competition in the insurance market of the Netherlands.
