NEWS
By Dan Berger | February 22, 1999
Only Slobodan Milosevic could look at Saddam Hussein and see a winning role model.Aegon is buying Transamerica and may move its Pyramid from Frisco to the Inner Harbor, if not to the Hague itself.Any moderate GOPeful would beat Gore. None, alas, can be nominated.The trick to saving historic buildings on downtown's west side is to do it before they all fall down.Pub Date: 2/22/99
BUSINESS
By Bill Atkinson | November 12, 1999
Aegon N.V., the large Dutch insurance company that employs about 800 people in Baltimore, reported yesterday that its third-quarter profit surged 28.4 percent, driven by increasing sales of life insurance, accident and health insurance and banking products.The company, which for the first time included San Francisco-based Transamerica Financial Corp. in its results, made $438 million in the third quarter that ended Sept. 30, or 68 cents per share, compared with $341 million, or 59 cents a share, in the corresponding period last year.
BUSINESS
By Bill Atkinson | March 4, 1999
Aegon NV, Europe's second-largest insurer, said yesterday that its net income rose 11.7 percent, fueled partly by its rapidly growing American operations, which are based in Baltimore.The Dutch company made $400 million, or 758 million guilders, in the fourth quarter, which ended Dec. 31, compared with net income of $358 million, or 707 million guilders.Net income for the full year increased 22.6 percent to $1.385 billion, or 2.748 billion guilders.Kees Storm, Aegon's executive board chairman, said the results "demonstrate the healthy earnings capacity of our existing units."
BUSINESS
By Mark Ribbing | June 23, 1999
Aegon NV, the large Dutch insurance company that has its U.S. headquarters in Baltimore, is planning to pay $181.2 million to the chairman and chief executive officer of Transamerica Corp., the San Francisco insurer that Aegon is acquiring.Frank C. Herringer, the Transamerica CEO, would receive $145.8 million in previously vested stock options, Transamerica said yesterday.In addition, Herringer would get $35.4 million in incentive-plan payments and in unvested stock options that will become exercisable when Aegon's $10.8 billion purchase of Transamerica is completed.
BUSINESS
By Shanon D. Murray | November 14, 1998
Dutch insurer Aegon NV, which has its U.S. headquarters in Baltimore, said yesterday that its net income rose 16 percent in the third quarter, fueled by a strong performance in its U.S. operation.Aegon reported net income of $341 million for the third quarter, compared with net income of $294 million for the third quarter of 1997.The company made 59 cents a share in the three months that ended Sept. 30, up 15.9 percent from the 51 cents made in the 1997 quarter."It was a solid quarter, in line with analysts' and investors' expectations," said Jason Zucker, an analyst with Bear Stearns & Co. in New York.
NEWS
By DAN BERGER | December 2, 1998
House Judiciary Republicans haven't found anything impeach-worthy yet, but they're still fishing.In the belief that nice guys finish last, the Orioles traded Eric Davis in for Albert Belle.Maryland Casualty is Zurich Group. Monumental Life is Aegon. Alex. Brown is Deutsche Bank. You get the idea.Quebecers don't want to secede. They want to keep talking about it.Pub Date: 12/02/98
BUSINESS
By Kevin L. McQuaid | January 24, 1998
Aegon USA yesterday told employees that it will remain and expand in downtown Baltimore through 2002, but the company left open the possibility it might consolidate more than 1,000 workers outside Baltimore because of changes taking place in the insurance industry.In committing to the city, the nation's ninth-largest insurer will expand into a vacant, six-story office and warehouse building at 205 W. Centre St. once occupied by retailer Hochschild, Kohn & Co. and the Bank of Baltimore.As part of the move, the North American subsidiary of giant Dutch insurer Aegon N. V. will shift 300 employees in its Special Markets Group to the 225,000-square-foot building by May. "Our new office location provides us with the much-needed space to accommodate our current business as well as our future growth," said Bart Herbert Jr., president of Aegon USA's Special Markets Group, who broke the news to employees at the Belvedere Hotel yesterday morning.
BUSINESS
By Shanon D. Murray | October 6, 1998
Cendant Corp., the franchiser and direct marketer struggling to recover from accounting fraud, called off yesterday its $219 million acquisition of Providian Auto Home and Insurance Co., a subsidiary of Baltimore's Aegon USA.Cendant also filed a lawsuit against the company.The Parsippany, N.J., company said Providian's financial health worsened after Cendant agreed to acquire the insurer for cash in December.In a statement, Cendant said "several representations and covenants in the acquisition agreement had not been fulfilled and the conditions to closing had not been met."
BUSINESS
By Bill Atkinson | March 22, 1997
Aegon N.V., the international insurance company that has its U.S. headquarters in Baltimore, said yesterday that fourth-quarter net income jumped 14.3 percent on brisk sales of life insurance and financial products.The insurer reported net income of $272 million in the fourth quarter ended Dec. 30, 1996. Revenue was $3.6 billion in the quarter, up 6.4 percent from the same period a year earlier."Our outlook for the year right now is an increase in earnings and earnings per share in the range of 12 percent," said Robert J. McGraw, treasurer of the company, which has $105 billion in assets and is based in The Hague, the Netherlands.
BUSINESS
By Jay Hancock | May 16, 1997
Aegon N.V., an international insurance company that has its U.S. headquarters in Baltimore, said its first-quarter profit soared by 24 percent, propelled by a savings boom in its Dutch home and by life and casualty insurance earnings in the United States.Aegon's business is improving so much that the company also boosted its profit-increase forecast for this year from 10 percent to 12 percent over last year to 15 percent.Besides better operating profits, favorable exchange rates and healthy stock markets also are helping, said Aegon Chairman Kees Storm.