Dutch insurer Aegon has put its Eastern European business up for sale as it seeks to raise cash to better cope with the fallout of the coronavirus crisis and revamp earnings in its core markets, two sources familiar with the matter said.

Aegon is working with JPMorgan on the process and has held preliminary discussions with industry players to sell the unit, which is primarily focused on Hungary but is also active in Poland, Romania and Turkey, the sources said, speaking on condition of anonymity.

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