Aegon CEO Alex Wynaendts will detail later today the company’s approach for capturing growth in its core businesses and markets in the coming years.
Speaking at the opening of Aegon's two-day Analyst & Investor Conference in London, Mr. Wynaendts will present plans to strengthen Aegon's position in the At-Retirement market in North America, the Netherlands and the United Kingdom, while seeking to leverage its strong capabilities in providing protection and asset accumulation products and services in its developing markets throughout
Central & Eastern Europe, Asia and Latin America.
In recent years, Aegon has implemented a broad restructuring program to sharpen its focus on its core lines of business, reduce significantly its overall cost base, and create greater efficiencies across the organization. This has resulted in a shift from spread-based to fee-generating business and a substantially improved risk-return profile, the divestment of non-core businesses and an improved capital base ratio.
Continued demographic and economic uncertainties have increased the opportunities for Aegon in pursuing its core mission of assisting customers achieve their long-term financial security. To capture these opportunities, Aegon will accelerate the development of new business models by investing in innovative technology driven distribution channels, with the aim of connecting better and more frequently with customers, improving service levels and increasing retention rates. Aegon will also extend its investments in technology to support intermediaries as they adapt to the changing environment for distribution, as is underway in the United Kingdom and the Netherlands.
"Getting much closer to the people who depend on us requires developing new direct relationships by accelerating our investment in technology and better leveraging local initiatives across our businesses," said Mr. Wynaendts. "The opportunities for our business are substantial and the actions we have taken in recent years have strengthened Aegon's position, consistent with our targets and aim to be a leader in all our chosen markets in the coming years."
The conference presentations will be available on Aegon's corporate website at 4.30 pm GMT / 5.30 pm CET at www.Aegon.com. The presentation will be webcast live also on the website beginning at 5 pm GMT / 6 pm CET.