Press Release: State aid: European Commission approves Dutch recapitalisation of AEGON

The European Commission has approved, under EU state aid rules applicable to the financial sector in the current crisis, the recapitalisation of the Dutch insurance company AEGON. The decision was taken after a detailed assessment of the company's preliminary plan submitted by the Dutch authorities on 19 November 2009 and of the final plan submitted on 26 July 2010. On 27 November 2008, the Commission had approved the recapitalisation on a temporary basis as a rescue measure.

The final plan meets the commitment provided by the Netherlands to show how AEGON will secure its long-term viability, ensure sufficient burden-sharing between the State and AEGON and will offset the limited market-distorting effects of the aid measures. The Commission concluded that the aid was in line with its Restructuring Communication and as such compatible with Article 107.3.b of the Treaty on the Functioning of the European Union (TFEU) that allows aid to remedy a serious disruption of a Member State's economy.