Aegon shareholders approved the insurer’s move to the United States on Thursday 8 October, with almost 100% of the share capital at the meeting in favour.
The company will move its headquarters from Schiphol to New York next year and change its name to Transamerica in 2028.
Chief executive Lard Friese said the move makes sense because 80% of Aegon’s income now comes from the US, and he will relocate there himself in early 2027.
David Tomic of the Vereniging van Effectenbezitters said Aegon is still a small player in the American insurance market, but Friese called it one of the fastest-growing life insurers in the US.
The Schiphol head office will eventually close, and many of the 250 people who work there are expected to lose their jobs.
Aegon sold its Dutch insurance business to ASR in 2023, though its asset management division is staying in the Netherlands.
Shareholders also backed a pay plan for several hundred senior managers.
It is made up of 50 million shares worth about €370 million, and Aegon says it will help the company compete with US rivals such as MetLife and Prudential.
Staff facing redundancy can read our guide to Dutch dismissal and redundancy rules.