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Aegon opens life insurance operations in Slovakia

The Hague, October 29, 2003

Today the Aegon Group officially launched its life insurance activities in Slovakia. Aegon Slovakia started selling traditional life insurance products last September.

Donald J. Shepard, chairman of the Executive Board of Aegon N.V., commented:

 

"This is an important day for Aegon. In recent years the economic development in Central and Eastern Europe has been very promising. In the run-up to the imminent membership of the European Union, Slovakia has experienced a successful socio-economic development and the Slovak life insurance market has already shown considerable growth. Furthermore, the ongoing reform of the pension system may create interesting opportunities. We look forward to participating in the growth of the Slovak market".

 

As announced earlier, Aegon has entered the life insurance market of Slovakia in the form of a greenfield operation and gained the regulatory approvals in June of this year. Aegon intends to play a significant role in the development of this sector. Aegon Slovakia will focus on life insurance – especially endowment products and term insurance. Accident and health insurance will only be sold in connection with life insurance as a rider product.

 

Head of Aegon Slovakia is Jana Gruntová. A dedicated local team, led by general manager Peter Brudnák, is now building a strong and focused nationwide sales network, with regional centers in four large cities. The main office is located in Bratislava.

 

The launch in Slovakia fits Aegon’s strategy. Aegon is focused on life insurance, pensions and related savings and investment products in a number of markets that offer both scale and growth opportunities.

 

Press conference

A press conference will be held this morning at the Radisson SAS Carlton Hotel, Hviezdoslavovo nám 3, 81102 Bratislava 1, at 11:30 (GMT +1).