AEGON defines path for capturing growth in core markets


 
TIDMAGN 
 
AEGON defines path for capturing growth in core markets 
 
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. 
 
 
 
About AEGON 
 
As an international life insurance, pensions and asset management company based 
in The Hague, AEGON has businesses in over twenty markets in the Americas, 
Europe and Asia. AEGON companies employ over 25,000 people and have nearly 
47 million customers across the globe. 
 
Key figures - EUR            Q1 2012    Full year 
                                             2011 
 
Underlying earnings              425  1.5 billion 
before tax                   million 
 
New life sales                   445  1.8 billion 
                             million 
 
Gross deposits                  11.0   32 billion 
                             billion 
 
Revenue-generating               437  424 billion 
investments                  billion 
 
(end of period) 
 
Contact information 
 
Media Relations: 
Greg Tucker, + 31 (0) 70 344 8956, gcc-ir@aegon.com 
 
Investor Relations: 
Willem van den Berg, + 31 (0) 70 344 8305, ir@aegon.com 
 
www.aegon.com 
 
 
Cautionary note regarding non-GAAP measures 
This document includes a non-GAAP financial measure: underlying earnings before 
tax. The reconciliation of underlying earnings before tax to the most 
comparable IFRS measure is provided in Note 3 "Segment information" of AEGON's 
Condensed consolidated interim financial statements. 
 
Forward-looking statements 
The statements contained in this document that are not historical facts are 
forward-looking statements as defined in the US Private Securities Litigation 
Reform Act of 1995. The following are words that identify such forward-looking 
statements: aim, believe, estimate, target, intend, may, expect, anticipate, 
predict, project, counting on, plan, continue, want, forecast, goal, should, 
would, is confident, will, and similar expressions as they relate to AEGON. 
These statements are not guarantees of future performance and involve risks, 
uncertainties and assumptions that are difficult to predict. AEGON undertakes 
no obligation to publicly update or revise any forward-looking statements. 
Readers are cautioned not to place undue reliance on these forward-looking 
statements, which merely reflect company expectations at the time of writing. 
Actual results may differ materially from expectations conveyed in 
forward-looking statements due to changes caused by various risks and 
uncertainties. Such risks and uncertainties include but are not limited to the 
following: 
 
  * Changes in general economic conditions, particularly in the United States, 
    the Netherlands and the United Kingdom; 
 
  * Changes in the performance of financial markets, including emerging 
    markets, such as with regard to: 
 
    - The frequency and severity of defaults by issuers in AEGON's fixed income 
    investment portfolios; and 
 
    - The effects of corporate bankruptcies and/or accounting restatements on the 
    financial markets and the resulting decline in the value of equity and debt 
    securities AEGON holds; 
 
    - The effects of declining creditworthiness of certain private sector 
    securities and the resulting decline in the value of sovereign exposure 
    that AEGON holds; 
 
  * Changes in the performance of AEGON's investment portfolio and decline in 
    ratings of the company's counterparties; 
 
  * Consequences of a potential (partial) break-up of the euro; 
 
  * The frequency and severity of insured loss events; 
 
  * Changes affecting mortality, morbidity, persistence and other factors that 
    may impact the profitability of AEGON's insurance products; 
 
  * Reinsurers to whom AEGON has ceded significant underwriting risks may fail 
    to meet their obligations; 
 
  * Changes affecting interest rate levels and continuing low or rapidly 
    changing interest rate levels; changes affecting currency exchange rates, 
    in particular the EUR/USD and EUR/GBP exchange rates; 
 
  * Changes in the availability of, and costs associated with, liquidity 
    sources such as bank and capital markets funding, as well as conditions in 
    the credit markets in general such as changes in borrower and counterparty 
    creditworthiness; 
 
  * Increasing levels of competition in the United States, the Netherlands, the 
    United Kingdom and emerging markets; 
 
  * Changes in laws and regulations, particularly those affecting AEGON's 
    operations, ability to hire and retain key personnel, the products the 
    company sells, and the attractiveness of certain products to its consumers; 
 
  * Changes in the policies of central banks and/or governments,; 
 
  * Regulatory changes relating to the insurance industry in the jurisdictions 
    in which AEGON operates; 
 
  * Changes in customer behavior and public opinion in general related to, 
    among other things, the type of products also AEGON sells, including legal, 
    regulatory or commercial necessity to meet changing customer expectations; 
 
  * Acts of God, acts of terrorism, acts of war and pandemics; 
 
  * Lowering of one or more of AEGON's debt ratings issued by recognized rating 
    organizations and the adverse impact such action may have on the company's 
    ability to raise capital and on its liquidity and financial condition; 
 
  * Lowering of one or more of insurer financial strength ratings of AEGON's 
    insurance subsidiaries and the adverse impact such action may have on the 
    premium writings, policy retention, profitability of its insurance 
    subsidiaries and liquidity; 
 
  * The effect of the European Union's Solvency II requirements and other 
    regulations in other jurisdictions affecting the capital AEGON is required 
    to maintain; 
 
  * Litigation or regulatory action that could require AEGON to pay significant 
    damages or change the way the company does business; 
 
  * As AEGON's operations support complex transactions and are highly dependent 
    on the proper functioning of information technology, a computer system 
    failure or security breach may disrupt the company's business, damage its 
    reputation and adversely affect its results of operations, financial 
    condition and cash flows; 
 
  * Customer responsiveness to both new products and distribution channels; 
 
  * Competitive, legal, regulatory, or tax changes that affect profitability, 
    the distribution cost of or demand for AEGON's products; 
 
  * Changes in accounting regulations and policies may affect AEGON's reported 
    results and shareholder's equity; 
 
  * The impact of acquisitions and divestitures, restructurings, product 
    withdrawals and other unusual items, including AEGON's ability to integrate 
    acquisitions and to obtain the anticipated results and synergies from 
    acquisitions; 
 
  * Catastrophic events, either manmade or by nature, could result in material 
    losses and significantly interrupt AEGON's business; and 
 
  * AEGON's failure to achieve anticipated levels of earnings or operational 
    efficiencies as well as other cost saving initiatives. 
 
Further details of potential risks and uncertainties affecting the company are 
described in the company's filings with NYSE Euronext Amsterdam and the US 
Securities and Exchange Commission, including the Annual Report. These 
forward-looking statements speak only as of the date of this document. Except 
as required by any applicable law or regulation, the company expressly 
disclaims any obligation or undertaking to release publicly any updates or 
revisions to any forward-looking statements contained herein to reflect any 
change in the company's expectations with regard thereto or any change in 
events, conditions or circumstances on which any such statement is based. 
 
Press release 
 
June 19, 2012 
 
 
 
END
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