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Aegon releases details of AIG exposure

The Hague, September 19, 2008

In the light of the actions of the Federal Reserve Board, Aegon releases details of its exposure to AIG.

  • Aegon does not hold common equity in AIG.
  • During 2008, Aegon has actively lowered its exposure to AIG by approximately 20%. As of September 18, 2008, Aegon had a total general account gross exposure of:
    • EUR 189 million to the AIG holding company.
    • EUR 311 million to AIG operating companies, including American General Finance, SunAmerica Life and International Lease Finance Corp.
  • Aegon believes that credit exposure to the AIG holding company requires a different assessment than exposure to the operating companies.
  • Any effect of credit losses on Aegon’s excess capital and net income will be substantially lower as a result of a variety of factors, including taxes and recovery values.
  • Aegon has limited counter party exposure to AIG through general insurance contracts. The potential effect of non-performance on these insurance contracts is not expected to have a material impact on the Group’s earnings or capital position.