AEGON companies around the world offer a wide range of life insurance, pensions and long-term investment and savings products.
Products are sold through the Group's diversified distribution network, which includes direct marketing, agents, banks, brokers, independent financial advisors and other partners. AEGON now uses a 'Lines of Business' format for financial reporting. These lines of business are: Life & Protection, Individual savings & Retirement products, Pensions & Asset management, Institutional products, Reinsurance and General insurance.
Life & Protection
AEGON is one of the world’s leading providers of life insurance and financial protection products, serving millions of customers across the globe. AEGON offers a broad range of traditional, term, universal, permanent life insurance, as well as individual and group financial protection, including accident and health cover.
The company has leading life insurance businesses in the Americas (United States, Canada, Mexico), the Netherlands, the United Kingdom and Spain, as well as a growing presence in emerging markets in Asia and Central & Eastern Europe. AEGON companies include some of the best-known brands in the insurance sector, among them Transamerica in the United States, AEGON Scottish Equitable in the United Kingdom and AEGON itself in the Netherlands.
Individual savings & Retirement products
AEGON helps individuals and families around the world save for their retirements, increasingly important as people in many countries live longer, healthier lives. AEGON provides a wide variety of savings and retirement products, including retail mutual funds and fixed sand variable annuities. AEGON provides individual savings and retirement products, mainly in the United States and the Netherlands.
The company’s variable annuities, savings and mutual fund business is growing rapidly in other countries, too. A combination of economic growth and rising levels of personal wealth in recent years has supported an expansion of AEGON’s businesses in Asia, Mexico and Central & Eastern Europe.
Pensions & Asset management
With people living longer lives, and governments increasingly shifting responsibility for retirement provisioning to the private sector, AEGON believes demand for pensions will continue to grow in the years ahead. AEGON has a strong and expanding pension business in the United States, the Netherlands and United Kingdom.
Demand is growing in other regions, opening up new opportunities for the company. Pensions are an important part of AEGON’s businesses, not only in our established markets, but also in new, emerging markets like the countries of Central & Eastern Europe.
Institutional products
AEGON’s businesses cater to the needs not only of individuals, but also of institutional customers, such as banks, pension funds, municipalities and private companies. AEGON companies around the world provide institutional guaranteed products, such as guaranteed investment contracts and funding agreements, as well as management, administration and risk services for off-balance sheet items and bank- and corporate-owned life insurance. AEGON USA markets a range of institutional products to pension and retirement funds, money market funds and US municipalities as well as investors outside the United States. These products include bank-owned and corporate-owned life insurance..
Life reinsurance
AEGON provides a range of life and annuity reinsurance products. The company’s core product – mortality risk transfer – is offered primarily through coinsurance, but is also available under yearly renewable term arrangements. AEGON offers life reinsurance services not only in the United States, but also in Asia and Latin America, through its Transamerica Reinsurance business unit. Transamerica Reinsurance has operations in Bermuda, Brazil, Chile, France, Spain, Hong Kong, Ireland, Japan, Mexico, South Korea, Taiwan and the United States.
General insurance
Generally, AEGON offers non-life insurance cover only when it serves the company’s distribution objectives to do so. The company offers some limited general insurance in the Netherlands and in Hungary – primarily car, liability, household and fire insurance.
Distribution
AEGON has distribution businesses in both the Netherlands, through its Unirobe-Meeùs subsidiary, and in theUnited Kingdom through Positive Solutions and Origen. In both countries AEGON companies sell and distribute a wide range of insurance products and other financial services.
* Underlying earnings before tax in EUR million.