Aegon N.V. Kentucky’s Corp. to acquire Providian
PHILADELPHIA - A Chester County’s largest employer is purchased as part of the largest acquisition ever by an American company a Dutch company.
In keeping with a trend towards consolidation of Living and insurance industry, Kentucky-based Providian Corp. declared itself ready to be bought by a giant Dutch financial services.
Aegon NV, headquartered in The Hague, declared itself ready, with Pay-$ 3.5 billion for insurance companies, Providian, including direct Insurance Group, headquartered in Frazer, Chester County.
As with most mergers, the fate of jobs in 1400 Frazer has been questioned, but David Miller, Chief Operating Officer of Providian Direct Insurance, said that the company does not have a reputation as a dismantler companies.
“I will say that Aegon was a buyer purchased the company with the intention of running,” said Miller.
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