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THE HAGUE, NetherlandsAEGON N.V. has completed its $550 million Regulation XXX securitization.
AEGON has closed an offering of $550 million of 30-year maturity securities by its wholly-owned subsidiary LIICA Holdings L.L.C. The proceeds will be used to fund Regulation XXX reserves, statutory reserves associated with level premium term life insurance policies.
The purpose of the securitization is to provide an alternative to letter of credit (LOC) solutions for the Regulation XXX redundant reserve requirements in the United States.