Aegon (AEG) said Thursday it agreed with its largest shareholder, Vereniging Aegon, on a new governance framework tied to the insurer's planned relocation to the United States.

The company said it intends to move its legal seat to Delaware and adopt governance changes aligned with US market standards, including annual director elections beginning in 2030, majority voting in uncontested board elections, and annual advisory votes on executive pay.

Aegon said it also plans to simplify its share structure by converting Vereniging Aegon's special voting shares into common stock with equal voting rights.

As part of the agreement, the company said Vereniging Aegon will retain its roughly 18.4% stake and be renamed Vereniging Aegon Americas.

The changes remain subject to shareholder approval at an extraordinary general meeting expected in Q4, it added.