Aegon has pledged to keep investing in its Bermuda re/insurance businesses despite plans to move its legal home to the United States.

The international financial services group is seeking shareholder approval at an October 8 meeting to redomicile its parent holding company from Bermuda to the US by January 1, 2028.

A spokeswoman said in an e-mail to The Royal Gazette that the company is still committed to Transamerica Life (Bermuda) Ltd, its high-net-worth life insurance business, and TBRe, its reinsurance operation.

“Total equity capital invested by these businesses as per December 31, 2025 was in total around $0.8 billion,” she said.

She added that the Bermuda Monetary Authority would still supervise both Bermuda entities after the parent company’s move. The parent holding company’s regulatory oversight would transfer to US regulators.

In addition, the plan would have no effect on employees of Transamerica Life Bermuda or TBRe. The impact on staff working for the parent holding company in Bermuda would be managed in the same way as for its Netherlands-based holding-company employees.

Aegon also said it will continue its Bermuda community investment programme after the three-year initiative launched in 2025 ends, although it is still considering what form that future support will take.

In January, Aegon presented $180,000 in grant money to three local charities as part of the Aegon Live Your Best Life Grant. Tibor Leeuwenburgh, Aegon’s country executive in Bermuda, presented $60,000 each to Age Concern Bermuda, Connectech Coding and Family Centre.

The proposed move would end a short period in which Aegon’s legal seat has been in Bermuda. The firm redomiciled from the Netherlands in 2023, after which the BMA became its group supervisor.

Aegon said its US-based Transamerica business has become its largest operating unit and the main contributor to group profits and cashflow.