Aegon has named Will Fuller (pictured) as president and chief operating officer, effective January 1, 2027. The appointment comes as the Dutch insurer prepares to move its headquarters to the US.
The company also confirmed New York City as the location for its future corporate headquarters, with the office expected to open in mid-2027.
Fuller has led Transamerica, Aegon’s primary US business, as president and CEO since March 2021. In the expanded role, he will oversee Transamerica, Aegon’s international businesses, and Aegon Asset Management. He will report directly to Aegon CEO Lard Friese.
Fuller’s background spans senior positions at Lincoln Financial Group and Merrill Lynch. At Merrill Lynch, he ran Global Wealth Management, covering asset management and insurance solutions across international markets.
Friese will retain full authority over group strategy, overall performance, and leadership. He is set to relocate to the US at the start of 2027 as the redomicile moves forward.
Friese said the appointment was designed to support the firm’s US operational shift, with Fuller’s role focused on day-to-day execution as the transition progresses.
The June 17 announcements build on a restructuring Aegon set out in December 2025. The company plans to rebrand as Transamerica Inc. and complete its redomicile to Delaware by January 1, 2028.
One-time implementation costs are projected at approximately €350 million, spread across the second half of 2025 through the first half of 2028. Aegon also said it will begin reporting under US GAAP from its full-year 2027 results.
Transamerica now accounts for roughly 70% of Aegon’s total operations. That share reflects years of portfolio reshaping. In 2023, Aegon sold its Dutch domestic insurance business to ASR Nederland for €4.9 billion. The firm then moved its legal domicile to Bermuda before identifying the US as its next base.
The redomicile remains subject to shareholder approval.
Aegon secured a governance agreement from its largest shareholder, Vereniging Aegon, in May 2026. A binding vote is scheduled for an extraordinary general meeting in Q4 2026. The legal seat will move to Delaware, the state of incorporation for most US public companies.
Aegon trades on the New York Stock Exchange under the ticker AEG. The company reported a market capitalization of approximately $13 billion as of June 2026.
The timing of Aegon’s US push coincides with four consecutive years of record annuity sales in the US. Total US annuity sales reached $464.1 billion in 2025, up 7% from 2024, according to LIMRA. That marked the fourth straight year of record sales. Q1 2026 sales came in at $104.6 billion, the tenth consecutive quarter above the $100 billion mark.
Transamerica focuses on life, health, and retirement products, the segments driving that annuity growth.
