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Variable Annuities Get Double Backing

According to “Sony Life Insurance forms joint venture with AEGON” on TradingMarkets.com, Sony Life Insurance Co., Ltd. and AEGON N.V. have made a financial partnership.  This joint venture was completed on January 27, 2010 and is valued at $55.88 million.  The companies will join forces to sell insurance policies under the combined name Aegon Sony Life Insurance Co.  The risks associated with variable annuities will now be reinsured by adding this second company to the mix.  Sony Life Insurance Co. is based in Japan and is a subsidiary of Sony Financial Holdings, Inc.  AEGON, located in Bermuda, is a life insurance and pension company based in the Netherlands.  The partnership consists of a 50:50 reinsurance on annuities and other life insurance products sold by the new joint venture.  Their trading symbols are AEG & SNYFY.  Keep an eye on those stocks to see what effect the companies’ joint venture will have.

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