On July 11, the Dutch Central Bank published industry-wide guidelines regarding the treatment of banks in Solvency II ratios. As a consequence, Aegon will include Aegon Bank in the calculation of its Group Solvency II ratio going forward. This presentational change has no impact on Aegon’s capital allocation decisions.
This change will be implemented ultimately by the end of 2020. The estimated negative impact of the change, based on Aegon's capital position per March 31, 2020, is 4 percentage points on the Group Solvency II ratio, which was reported at 208%.