Aegon International consists of Aegon’s growth markets Brazil, China, and Spain & Portugal, the high-net-worth insurance business, as well as some smaller ventures in Asia.
Our goal is to accelerate growth and further leverage cross-border synergies by developing new business models and realizing operational efficiencies.
Mongeral Aegon Group
In Brazil, Aegon has a 55% interest in Mongeral Aegon Group (MAG Seguros), the country’s third-largest independent life insurer. MAG Seguros offers individual protection solutions, ranging from life insurance and pension products to solutions in investments, pension funds, and pension management. Together with Banco Cooperativo do Brasil (Bancoob), MAG Seguros also operates a joint venture company dedicated to providing life insurance and pension products within the Sicoob, Brazil's largest cooperative financial system.
Aegon THTF Life Insurance Co
Our joint venture company, Aegon THTF Life Insurance Co., sells life insurance, as well as accident and health insurance products through 13 branches in China. Since 2003, the company has established thirteen branches, which have access to a potential market of over 650 million people, primarily in the prosperous coastal provinces of eastern China.
Website (in Chinese)
Aegon Industrial Fund Management
Aegon Industrial Fund Management was established in October 2007 when Aegon purchased 49% of an Industrial Fund Management Company established by Industrial Securities in 2003. Aegon Industrial Fund Management operates as part of Aegon Asset Management.
Website (in Chinese)
Aegon entered the Spanish market in 1980, with the acquisition of Galicia. In subsequent years, the company acquired Unión Levantina, Unión Previsora Labor Médica, Caja de Previsión y Socorro y la Sanitaria.
The head office is located in Madrid, and they have around 22 sales offices, covering most major cities.
Online life insurance launched in 2013. In 2013, Aegon entered a strategic partnership (51% stake) with Banco Santander. Santander has 4,000 branches, as well as the networks of Banesto and Banif. Distribution agreements are also in place with Liberbank.
As part of the companies multi-channel distribution approach, since 2014 we have opened a number of customer centers in key retail areas in the high-income districts of major cities. Via these centers we offer customers a personal protection and planning for retirement service.
In 2015, Aegon Spain received approval to launch an independent broker service, called Aegon Activos. The service provides customers with access to over 30 carefully selected mutual funds and pension plans, offered by 20 national and international fund managers, life insurance and savings companies.
Aegon signed a 25-year agreement to distribute insurance products through Santander's network of branches in Portugal in August 2014. Banco Santander Totta has over 10% market share, around 630 branches and over 2 million customers.
Under the terms of the agreement, Aegon acquired a 51% stake in Santander's Portuguese insurance activities. Through this partnership they offer life, home, accident, commercial, liability, protection and temporary disability insurance products.
In December 2016, health insurance was also added. At the same time both parties agreed to accelerate the commercial development of other insurance products.
Transamerica Life Bermuda (TLB) is a wholly owned subsidiary of Aegon. Dedicated to serving affluent and high-net-worth individuals across Asia and beyond, TLB provides life insurance products and services through its branches in Singapore, Hong Kong and Bermuda.
Aegon Life Insurance Company
Aegon operates in India through Aegon Life Insurance Company. This is a joint venture company with Bennett, Coleman & Co., India's largest media conglomerate popularly known as the Times Group.
Headquartered in Mumbai, Aegon Life pursues a digitally focused direct-to-consumer strategy and currently serves over 300,000 customers. The company provides a wide range of products, including term plans; savings plans; child plans; unit-linked plans; and health plans.
Aegon Insights was originally established in Hong Kong in 2005 as Aegon's Asia Pacific-based insurance marketing and consulting arm.
In Australia, the Aegon Insights business is conducted through Aegon Insights Australia Pty Limited (Aegon Insights Australia).
Marco Keim, CEO of Aegon International
Marco Keim is responsible for Aegon's businesses in Southern and Eastern Europe as well as Asia.