April 29, 2016 / 5:26 AM / 2 years ago

BRIEF-EFG says Q1 net new asset generation was 'disappointing'

April 29 (Reuters) - EFG International Ag

* Says recently informed of premium increases relating to 12 of 48 of its holding of policies issued by Transamerica

* Says premium increases are significant and unjustified, intends to challenge the implementation of these increases in U.S. courts

* Says if receive further notices of premiums, the current carrying value of EFG International’s holdings of life insurance policies may be subject to possible significant impairment

* Says new asset generation was disappointing in the first quarter of 2016, adversely impacted by difficult macro-conditions in Latin America and run-off of an investment product in Asia Source text for Eikon: Further company coverage: (Reporting By Zurich newsroom)

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