Aegon maintains strong capital position despite fourth quarter 2008 loss.
Capital position remains strong; excess capital over AA-requirements EUR 2.9 billion at year-end
Net loss for fourth quarter 2008 expected to be approximately EUR 1.2 billion
Core business remains healthy, despite persistent market turmoil
Measures to counter effects of financial crisis
1) Core capital is the sum of shareholders’ equity and the EUR 3 billion in convertible core capital securities from the Dutch State.2) The calculation of the IGD (Insurance Group Directive) capital surplus and ratio have been changed and are based on Solvency I capital requirements on IFRS for entities within the EU, and local regulatory solvency measurements for non-EU entities. Specifically, required capital for the life insurance companies in the US is calculated as two times the upper end of the Company Action Level range (200%) as applied by the National Association of Insurance Commissioners in the US.3) National Association of Insurance Commissioners.
Further details will be made available on March 12 at 7.30 am CET, when Aegon releases its audited fourth quarter 2008 and full-year 2008 results.
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