It all starts with our purpose. Aegon is a diversified financial services group that focuses on helping people achieve a lifetime of financial security by providing insurance, asset management, banking and pension services.
We are highly attuned to the needs of a world where lifespans are increasing and careers and retirement are lengthening and becoming more flexible. Although healthcare is becoming more effective, it is also becoming expensive as public and corporate sources of lifelong pension and care are transferring risk to individuals in the face of financial pressure.
Our business model
- Solutions development and pricing
Development of our financial solutions begins with our customers. We assess their needs, and develop products and services to suit them. Then, we estimate and price the risk involved for us as a provider.
Our products and services are then branded, marketed and distributed. We offer products and services via intermediaries, like brokers, banks or financial advisors. We also sell directly to our customers.
In exchange for products and services, customers pay fees or premiums. On certain pension-, savings and investment products, customers make deposits. By investing this money, we earn returns for our customers.
- Claims and benefits
From premiums, deposits and investment returns, we pay out claims, benefits and plan withdrawals. With the remainder we cover our expenses, fund new investments, and generate profits for our shareholders.
Active portfolio management
Our strategy is to reallocate capital towards attractive and profitable business opportunities by building on a number of global societal, macroeconomic and technological trends, and evolving our operating model in order to achieve substantial growth. Aegon's businesses are grouped into three distinct strategic categories:
- Drive for Growth
Drive for Growth businesses are at-scale enterprises with leading market positions, deriving mostly fee-based revenues from products that offer strong elements of protection to our customers.
- Scale-up for Future
Scale-up for Future enterprises bring new business models into Aegon and allow us to increase our presence in rapidly growing markets and niches, and often reach customers directly.
- Manage for Value
Manage for Value businesses are at-scale enterprises that generally derive spread-based revenues from a single product. Our goal is to optimize capital generation for each business.