What are AEGON's main businesses?
AEGON is a provider of life insurance and pensions and offers a wide range of long-term savings and investment products.
Where are AEGON's businesses located?
AEGON has three main markets: the United States, the Netherlands and the United Kingdom. In addition, the Group also has expanding operations in Central & Eastern Europe, Asia and the Americas.
How many customers does AEGON have?
AEGON has approximately 40 million policyholders around the world.
What are AEGON's main brands?
AEGON has two main brands: AEGON and Transamerica. Other brands are: TKP Pensioen, OPTAS, HS Admin, Guardian, Monumental Life, Life Investors, Western Reserve Life.
There are also several joint ventures, such as: AEGON-CNOOC, AEGON Industrial Fund Management, La Mondiale Participations, AEGON Sony Life, Seguros Argos, BT AEGON, Taishin AEGON.
AEGON intermediaries are: Unirobe Meeùs Groep, Origen, Positive Solutions, World Financial Group, InterSecurities.
How does AEGON distribute its products and services?
AEGON has a multi-channel approach to distribution. The Group works through brokers, agents, banks, direct marketing and online to ensure customers are able to access products and services in a way that suits them best.
Does AEGON work in partnership with other companies?
Yes, AEGON has a number of partnerships around the world. Often these partnerships help AEGON gain entry to new, growing markets. At other times, they are a way of ensuring customers are able to access the Group’s products and services more easily.
Who is the CEO of AEGON?
Alex Wynaendts has been Chief Executive Officer and Chairman of AEGON N.V.'s Executive Board since April 23, 2008.
When was AEGON formed?
AEGON N.V. is the holding company of one of the world's largest life insurance and pension companies, and a strong provider of investment products. It is the result of a merger between two insurance companies AGO and Ennia that took place in 1983.
Does AEGON have a one-tier or two-tier board?
AEGON has a two-tier board, consisting of a Supervisory Board and an Executive Board. Who is AEGON’s independent auditor? Ernst & Young Accountants, The Hague, the Netherlands.
Does AEGON have a code of conduct?
Yes. AEGON's Code of Conduct provides management and employees with guidelines for how the company operates as a responsible business. This Code sets out the company's core values and its underlying principles of business practice. All employees, excluding those working for joint ventures where AEGON does not have full management control, are covered by this Code of Conduct. For further information, please take a look at the corporate responsibility section of this website.
How many people work for AEGON?
AEGON has more than 28,000 employees worldwide.
Who are AEGON’s leading competitors?
AEGON peer group comprises companies that are comparable in type of business, size, geographical presence, and that are generally recognized as the most appropriate reference group. One peer group consists of companies based in the Americas, the other of European companies.
Americas: American International Group (AIG), Genworth Financial, Hartford Financial Services, Lincoln National, Manulife, Metlife, Prudential Financial Inc en Sun Life Financial Group.
Europe: Allianz, Aviva, AXA, Fortis, ING, Legal & General, Munich Re, Prudential PLC, Swiss Re and Zurich Financial.
How is AEGON organized?
AEGON is organized by country units. AEGON companies employ approximately 28,000 people. AEGON's businesses serve millions of customers in over 20 markets throughout the Americas, Europe, and Asia, with major operations in the United States, the Netherlands and the United Kingdom.
What is your strategy?
Our strategy is to:
- Reallocate capital
- Increase returns
- Optimize ONE AEGON
What is AEGON's vision on Solvency II?
We have known for some time that Europe’s rules on capital have not been adequate. They produced a very arbitrary system of regulation. What the European Commission is now doing is developing a much more modern approach, where the amount of capital an insurance company has to hold at any one time is linked directly to the risks it has, and the nature of those risks.
This is a very important principle. It should mean a more efficient system for insurers – one that will reward strong risk management. We believe that Solvency II will lead to greater transparency and enable customers, shareholders and other stakeholders to compare insurers more easily.
Ultimately, it should also result in greater security for customers and policyholders who invest their money with us. That’s very important, particularly at a time of such economic uncertainty.
For AEGON, Solvency II is very much a step in the right direction. We are already managing our business within a risk-based framework. In effect, Solvency II will change the regulatory framework in Europe into a system based consistently on risk and insurance companies’ appetite for risk. In turn, this should lead to fewer constraints when it comes to managing our combined risk and capital position.
Of course, Solvency II won’t come into effect for a while – not until October 2012 at the earliest. At the moment, there is broad agreement on the basic principles behind the system, but a lot still has to be ironed out. In particular, how you treat businesses in countries outside the European Union is still an area of substantial uncertainty both for regulators and companies.
This is a crucial moment for the insurance industry. We are only just emerging from the financial crisis, and still digesting some of the lessons that have to be learned from the past two years. Here we have an opportunity in Europe to increase public trust, and put in place a modern, effective system of regulation, which will help improve the way we run our companies, benefit our shareholders, and strengthen what we can do for our customers.