Aegon N.V.

Aegon N.V.
Naamloze vennootschap
Traded as Euronext: AGN, NYSE: AEG
Industry Financial services
Founded 1983
Headquarters The Hague, Netherlands
Area served
 Worldwide
Key people
 Alex Wynaendts (CEO)
Rob Routs (Chairman of the supervisory board)
Services Life insurance, asset management, pensions
Revenue €29,937 Billion (2012)[1]
Profit €1,571 Billion (2012)[1]
Total assets €366,118 Billion (end 2012)[1]
Number of employees
 24,407 (end 2012)[1]
Website www.aegon.com

Aegon N.V. is a multinational life insurance, pensions and asset management company headquartered in The Hague, Netherlands. At the end of 2012, Aegon companies employed approximately 24,000 people worldwide, serving millions of customers.[1]

Aegon has a primary listing on Euronext Amsterdam and is a constituent of the AEX index. It has a secondary listing on the New York Stock Exchange.

History

Aegon was founded in 1983 from the merger of AGO Holding N.V. (created by the merger of Algemeene Friesche, Groot-Noordhollandsche and Olveh (Onderlinge Verzekeringsmaatschappij Eigen Hulp) in 1968) and Ennia N.V. (formed by the merger of Eerste Nederlandsche and Nillmij (Nederlandsch-Indische Levensverzekering- en Lijfrente-Maatschappij) in 1969).

Aegon acquired Scottish Equitable in 1994.[2] In 1998 it formed Stonebridge International Insurance Ltd to create and market a range of personal insurance products, providing accident, health and unemployment cover to its own customers and via business partners.

In 1999 it acquired the life assurance business of Guardian Royal Exchange.[2] That year it also bought Transamerica Corporation.[3]

On August 13, 2007, Aegon and Merrill Lynch announced a strategic business partnership in the areas of life insurance and investment products. As part of the relationship, Aegon acquired two of Merrill Lynch's life insurance companies for US$1.3 billion.[4]

On April 23, 2008, Alex Wynaendts succeeded the retiring Donald J. Shepard as Chairman of the Executive Board and CEO of Aegon N.V. following the Group's Annual General Meeting of Shareholders: Donald Shepard announced his retirement in November 2007, after six years as Chairman.[5]

On October 28, 2008, the Dutch government and De Nederlandsche Bank agreed to give Aegon a €3 billion capital injection to create a capital buffer in exchange for convertible bonds to ease the group through the financial crisis.[6] On June 15, 2011, Aegon fulfilled its key objective of repurchasing all of the €3 billion core capital securities issued to the Dutch State. The total amount Aegon has paid to the Dutch State amounts to €4.1 billion. Of this amount, €3 billion covered the original issue of core capital securities, while an additional €1.1 billion was paid in premium and interest.

On August 3, 2011, Aegon USA announced that all its various businesses will be grouped under a single brand name: Transamerica. Transamerica’s key businesses are life insurance, investments and retirement. The group includes companies whose history goes back over 100 years and whose products and services have become well known throughout the US, including founding companies Life Investors Insurance Company of America and Monumental Life Insurance Company.

Operations

Aegon's world headquarters in The Hague

Aegon's businesses focus on life insurance and pensions, savings and asset management products. The group is also active in accident and supplemental health insurance and general insurance, and has limited banking activities. Aegon has major operations in the United States (where it is heavily represented through World Financial Group and Transamerica), the Netherlands and the United Kingdom. In addition, the group is present in a number of other countries including Canada, Brazil, Mexico, Hungary, Poland, Romania, Slovakia, Czech Republic, Turkey, Spain, China, Japan and India. Aegon's world headquarters are in The Hague, Netherlands, and its U.S. headquarters are in Cedar Rapids, Iowa.

Subsidiaries and divisions

North America

Netherlands

United Kingdom

Other

Joint ventures

Shareholdings

Sponsorships

In 2008, Aegon became the official sponsor of the Dutch football team AFC Ajax, in a deal which will last for seven years.[7] Ajax's uniform now features the Aegon logo across the chest. Aegon becomes the third sponsor of Ajax (TDK sponsored Ajax since 1982 until 1991, and ABN AMRO sponsored the team from 1991 till 2008). As of late 2008, Aegon also sponsor the Lawn Tennis Association. A sponsorship package was agreed with the LTA and Aegon's name will appear on all four pillars of British Tennis, including many professional tournaments, one of which is the AEGON Championships, an ATP grasscourt professional tennis tournament in June in London, taking over from Stella Artois, who had sponsored the event since 1979. Since 2004, Transamerica has been the primary sponsor of the American golfer Zach Johnson. AEGON is one of the strategic industry partners with Duisenberg school of finance.[8]

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 "Aegon's 2012 Review". Retrieved 26 June 2013.
  2. ↑ 2.0 2.1 Aegon plans further deals after GRE buy Independent, 13 August 1999
  3. ↑ Transamerica Corporation: History
  4. ↑ Aegon buys Merrill Lynch insurance companies for $1.3bn Marketwatch, 13 August 2007
  5. ↑ Alex Wynaendts to succeed Donald Shepard as Chairman of Aegon PR Newswire, 8 November 2008
  6. ↑ Government reinforces AEGON’s capital position by EUR 3 billion De Nederlandische Bank, 28 October 2008
  7. ↑ AEGON new head sponsor AFC Ajax Ajax, 17 October 2007
  8. ↑ "DSF Industry Partners".

External links

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