By Ian Walker

LONDON--Legal & General Group PLC (LGEN.LN) said Thursday it is selling its investment platform Cofunds to Dutch insurer Aegon N.V. (AEG) for 140 million pounds ($183 million).

The U.K. insurance and investment company said the deal includes the investor portfolio service platform as well as Cofunds' retail and institutional business.

Legal & General's Solvency II surplus, at June 30 was estimated at GBP5.3 billion. The sale of Cofunds will increase this by GBP125 million, and the company's economic capital surplus by GBP105 million, it said.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

August 11, 2016 02:48 ET (06:48 GMT)

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