Aegon has asked the US Government for more than $US1 billion ($1.57 billion) in funds, less than a month after receiving €3 billion ($5.9 billion) in capital from the Dutch Government.

The Dutch insurer owns US life insurance and investment company Transamerica, and confirmed last week that it’s “currently examining the possibility” of acquiring a small thrift company in the US.

Ownership of either a bank or a thrift institution would allow Aegon to potentially qualify for funds under the US government’s Troubled Asset Relief Program (TARP).

CEO Jos Streppel says it makes sense for the insurer to seek financial support from the US Government considering it has “sizeable operations in the US”.

“In the current market environment, we want to make sure that we carefully explore all possible financing options,” he said.

Aegon released €729 million ($1.4 billion) in additional capital from its businesses in the third quarter of the financial year. It hopes to free up another €600-800 million ($1.2-$1.6 billion) in the fourth quarter.

A decision from the US Government is expected in the next few weeks.