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Paul van de Geijn steps down from Aegon’s Executive Board to join Zurich

The Hague, October 24, 2003

The Hague: Following an 11-year tenure as a member of Aegon’s Executive Board, Paul van de Geijn (57) will leave Aegon N.V. at the end of October 2003. Mr Van de Geijn will join Zurich Financial Services (Zurich) as Chief Executive Officer, Life Businesses and as a member of the Group Executive Committee.

Donald J. Shepard, chairman of the Executive Board of Aegon N.V., commented on Mr Van de Geijn’s departure: "Our company has benefited over the years from Paul’s untiring efforts, dedication and loyalty to Aegon. We will certainly miss his contributions and personal commitment. My congratulations to him on his new position at Zurich. I know he will make a superb leader of their Life Businesses. All of us at Aegon wish him well in this new endeavor."

Paul van de Geijn started his career with one of Aegon’s predecessors in 1971. In 1983 he became member of the management board of Aegon The Netherlands, and in 1991 was appointed CEO. In 1992 he joined the Executive Board of Aegon N.V., taking responsibility for Aegon USA in 2002.

Paul van de Geijn enjoyed a long career at Aegon with gratitude: "I had a wonderful time and now look forward to new opportunities at Zurich. These are challenging times for life insurers. And this is why I am so excited to join Zurich at this particular moment in time and in my career."