Dutch Insurer Volunteers for State Hearings

Dutch insurer Aegon has volunteered to take part in hearings next month in California to see whether it complies with state insurance regulations dealing with Holocaust-era life insurance claims. The hearings, which begin Dec. 1, are being held by the state insurance commissioner to investigate whether insurers are ready to comply with state regulations that require companies to provide detailed policyholder information from Holocaust-era policies. The Dutch insurer, which bought San Francisco-based Transamerica Corp. in February to become the third-largest U.S. life insurer, was threatened with a boycott earlier this month by the World Jewish Congress over Holocaust-related claims. The Dutch insurers association agreed Nov. 9 to pay $24 million to settle unclaimed life insurance policies in the Netherlands from Jews killed during World War II. Aegon will pay 25% of that settlement.