Traded as Euronext: AGN
Industry Financial services
Founded 1983; 36 years ago
Headquarters The Hague, Netherlands
Alexander Wynaendts (CEO)
Services Life insurance, asset management, pensions
Revenue Increase €57.910 billion (2017)
Increase €2.393 billion (2017)
Increase €2.361 billion (2017)
AUM Increase €817,447 billion (2017)
Total assets Decrease €396,291 million (2017)
Total equity Decrease €20,573 million (2017)
Number of employees
Decrease 28,318 (end 2017)
Aegon N.V. is a multinational life insurance, pensions and asset
management company headquartered in The Hague, Netherlands. As of
December 31, 2017, Aegon companies employed approximately 28,318 people
worldwide, serving millions of customers.
Aegon is listed on the Euronext Amsterdam and is a constituent of the AEX index.
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
Aegon acquired Scottish Equitable in 1994. 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. That year it also bought Transamerica Corporation.
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.
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
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. 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.
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, North America and India.
Aegon's world headquarters are in The Hague, Netherlands
Subsidiaries and divisions
Aegon USA, LLC
Transamerica Advisors Life Insurance Company
Transamerica Advisors Life Insurance Company of New York
Transamerica Agency Network
Stonebridge Casualty Insurance Company
Stonebridge Life Insurance Company
Stonebridge Casualty Insurance Company
Transamerica Financial Life Insurance Company
Transamerica Premier Life Insurance Company
World Financial Group of Canada Inc.
World Financial Group US Inc.
Unirobe Meeus Groep
Scottish Equitable plc (trading as Aegon UK)
Origen Financial Services
Aegon Espańa S.A. (Spain)
Aegon Magyarország Általános Biztositó Zrt. (Hungary)
Aegon TU na Życie S.A. / Aegon Powszechne Towarzystwo Emerytalne S.A. (Poland)
Aegon-CNOOC Life Insurance Company (50% joint venture with CNOOC) (China)
Aegon Sony Life Insurance Cy (50% joint venture with Sony) (Japan)
Caja Badajoz Vida y Pensiones (Spain)
Banca Civica joint venture partners: CAN Vida y Pensiones S.A. de
Seguros (50% joint venture), Caja Burgos Vida (50%), CAN Seguros de
Salud (50%) (Spain)
Cantabris Vida Y Pensiones (50%) (Spain)
Liberbank Vida y Pensiones (50%) (Spain)
Unnim Vida (50%) (50%) (Spain)
Aegon Industrial Fund Management Co. (49%) (China)
AMVEST Vastgoed B.V. (Netherlands)
N.V. Levensverzekeringsmaatschappij "De Hoop" (33.3%) (Netherlands)
Tenet Group Limited (22%) (United Kingdom)
Seguros Argos (89%) (Mexico)
Aegon Life Insurance Company Ltd  (49%) (India)
Mongeral Aegon (50%) (Brazil)
AEGON also operates a direct bank under the brand name "Knab" in the
Netherlands. Soon after it was founded in 2012 the bank came under
criticism for having the highest cost for any transaction account
compared to other Dutch banks. Knab responded by saying that
other banks hid many of its costs in other products.
In 2008, Aegon became the official sponsor of the Dutch football team
AFC Ajax, in a deal which lasted for seven years. Ajax's uniform
featured the Aegon logo across the chest. Aegon became 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.
The headquarters office of Aegon is located in The Hague and designed
by OTH Architects. Initially AEGON wanted to redesign only the
conference rooms, but while working on it they decided to improve and
redesign the full building. The office spaces, the main hall and the
restaurant were redesigned. The new design has a lot of glass like
glass walls manufactured by SI-X. The restaurant has a main helical
staircase with a full glass balustrade manufactured by Eestairs and did
win the prize for the best staircase of the year in 2008. In
2009 Aegon decided to buy this building from real estate fund
Unibail-Rodamco and keep the building as their headquarters.
In June 2018 AEGON was criticized by environmental organizations for
its investments in tar sands oil companies and pipelines. Aegon
reacted by stating that it is developing a new policy with regards to
the oil and gas sector.