AEGON believes its core markets offers significant prospects for growth in the years ahead. In many parts of the world, people are living longer, healthier lives. Workforces available to fund pension systems are shrinking and governments, particularly those in Europe, are shifting more responsibility for funding retirement to the private sector. In Europe, it is estimated that by 2050 the working-age population will have declined by 20%. At the same time, the population of over-65s will have risen by a staggering 80% (Source: Eurostat). In the United States, average life expectancy for men and women, according to the US Center for Health Statistics has increased from 50 at the turn of the twentieth century to almost 78 today. 

These changes are driving increased demand for life insurance, pensions and other long-term savings and investment products. But longer life expectancy rates also mean many people are having to manage their pension assets for longer periods than in the past. In the more mature markets of western Europe, North America and Japan, this is leading to a fundamental shift away from simply saving for retirement to managing those savings for an increasingly costly old age. Moreover, in the next few years, millions of 'baby boomers' around the world will enter retirement, releasing billions of euros in accumulated pension assets and savings. In Japan, for example, an estimated JPY 50 trillion - approximately EUR 320 billion - will be released from long-term savings over the next three years as around 8 million people enter retirement. 

Prospects for strong, sustainable growth are not confined to AEGON's main markets - the United States, the Netherlands and the United Kingdom. In places such as China, India and Central and Eastern Europe, recent economic growth, rising levels of personal wealth and the emergence of new, ambitious middle classes are also expected to fuel demand over the coming years. 

To capitalize on these opportunities, AEGON has built up a considerable international presence. Aside from its three largest markets, AEGON today has businesses in five countries in Central and Eastern Europe, has recently signed partnerships in India and Japan and, through its joint venture with China National Offshore Oil Corporation (CNOOC), has representative offices in provinces in China covering some 200 million people.