An introduction to Aegon September 2020 Helping people achieve a - - PowerPoint PPT Presentation
An introduction to Aegon September 2020 Helping people achieve a lifetime of financial security Content 3 18 24 An overview of who we An integrated, diversified International are financial services group Our international presence Key
Helping people achieve a lifetime of financial security
September 2020
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Key facts and figures
Helping people achieve a lifetime of financial security
Creating long-term value for multiple stakeholders
Our international presence
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What we do
Life insurance, pensions & asset management for approximately
29.9 million customers
(2019)
History
Our roots date back more than 175 years
Paid out
€59.4 billion in claims, benefits and plan withdrawals
(Full year 2019)
Employees
Over 23,500 employees
(June 30, 2020)
Investments
Revenue-generating investments of EUR 883 billion
(June 30, 2020)
51% 30% 6% 7% 6%
Earnings
(Underlying earnings before tax, full year 2019)
◼ Americas ◼ Netherlands ◼ United Kingdom ◼ International ◼ Aegon Asset Management
EUR 1.97 billion
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1983: Joining forces
Merger of Dutch insurers Ago and Ennia; Aegon established
>1983
International expansion to
Americas, Europe and Asia
Recent history
Executing our customer- centric strategy to help people achieve a lifetime
<1900
Aegon’s roots date back to the first half of the 19th century
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Working life
We protect customers’ lives, property and other assets, and help them manage their education and pension pots.
Saving & investment
As their working lives progress, we manage customers’ assets and provide advice on savings and investments.
At & after retirement
We provide our customers with a stable income in retirement, helping to meet costs of care and securing their families’ future.
From working life….through guidance and advice…to trusted provider of retail solutions
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Demographic & socioeconomic
a need to fund longer lifespans
address this challenge, requiring:
highly adaptable to rapid pace of change
technology
financial literacy, lifelong learning and age-friendly communities
Macro-financial
shaping our industry and business strategies going forward
uncertainty
Technological & regulatory
better, more efficient service to
stability of the industry and financial system as a whole
supporting real economy
respect to data protection, data privacy and use of data
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Financially secure and healthy lives Secure retirement and healthy aging in society Cleaner and healthier environment Purpose
Vision
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Solutions development and pricing Distribution Investments Claims and benefits
We begin with customers. We assess their needs and develop product and services that meet those
involved for us as a financial services provider. Our products and services are then branded, marketed and sold. We offer products and services via intermediaries, like brokers, banks or financial advisors. We also sell directly to our customers. In exchange for product and services, customers pay fees or premiums. On certain pension products, savings and investments, customers make deposits. By investing this money, we make returns for our customers. From premiums, deposits and investment returns, we pay customer claims and benefits, cover our expenses, and make profits for our
withdrawals from pensions and savings products.
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Established research centers for longevity and retirement in the Netherlands, the US and Brazil Publication of original research regarding retirement, longevity, population aging, healthcare coverage and health & wellness Building relationships with respected partners in the field of longevity, retirement and health The Centers for longevity and retirement are a collaboration of experts from Aegon’s businesses in Europe, the Americas and Asia
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Solutions development and pricing Distribution Investments Claims and benefits
*This chart is based on the International Integrated Reporting Council’s IR framework. For the purpose of Aegon’s value chain, the capitals have been chosen that are most relevant to Aegon’s business. More information can be found as of page 13 in Aegon’s 2019 Integrated Annual Report
Our value chain*
Value created in 2019
claims, benefits and plan withdrawals
dividend and interest payments
development programs
investment solutions
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Serving individual and group customers globally
(2019)
Paid out in policyholder claims, benefits and plan withdrawals in 2019
million
Of the business covered in
Source: Aegon’s 2019 Integrated Annual Report
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(June 30, 2020)
Total employment costs in 2019
are women
0.8 1.3
€2.1
billion
Salaries Benefits
Source: Aegon’s 2019 Integrated Annual Report
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In commissions, fees and other payments to intermediaries, suppliers and reinsurers approach towards our customers
Spent on goods and services in 2019
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financial strength rating by S&P Global1)
listings – Euronext Amsterdam & New York stock exchange
by institutional investors
1) A+ rating applies to Aegon USA, Aegon the Netherlands and Aegon UK. For more information, please visit our corporate website.
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As an asset manager we engage proactively with issuers
General account
335 360 564 2017 2018 2019
Exclusions1 Coal Companies that expand coal-related operations
Tobacco companies Companies that exceed revenue threshold3 Oil or tar sands Companies that exceed production threshold4
Controversial weapons All companies
Number of companies engaged with
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– Providing support through community investments to vulnerable people
– We are promoting a healthy lifestyle
by the end of 2019 in e.g. affordable housing and renewable energy
2019 by employees to work with local communities
invested in 2019 in local communities, mostly in health, welfare and literacy
Source: Aegon’s 2019 Integrated Annual Report
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More information on the next slides and on our corporate website.
We operate primarily under the Transamerica brand in the United States, under MAG - a joint venture - in Brazil and have a small operation in Canada. Aegon is a provider of life insurance, pensions, and asset management in the United Kingdom, where our history stretches back to 1831. Aegon has operated for more than 175 years in the Netherlands, where we are a provider of life insurance, pensions, banking and other financial services. Aegon International was created in January 2020 to consolidate the management of our businesses in Southern and Eastern Europe and Asia. Aegon Asset Management's specialist teams provide high-quality investment solutions across various asset classes in the UK, Continental Europe, North America and Asia.
Americas United Kingdom Netherlands Aegon International Asset Management
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We have white label JV agreements with La Banque Postale in France for asset management products and with Banco Santander in Spain for life insurance products.
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What we do
A leading provider of life insurance, investments and retirement solutions in the US
Geographical footprint
Operations in the United States & Brazil
Customers
Diverse & targeted distribution to better align with its 12 million customers in the US
(December 31, 2019)
Employees
Over 8,500 employees
(June 30, 2020)
Investments
Revenue-generating investments of USD 453 billion
(June 30, 2020)
15% 19% 13% 3% 33% 9% 7% 1%
Life Accident & Health Retirement Plans Mutual Funds Variable Annuities Fixed Annuities Stable Value Solutions Latin America
Earnings
(Underlying earnings before tax, full year 2019)
USD 1.26 billion
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What we do
In the Netherlands, Aegon is one of the best-known names in the Dutch financial sector, and a leading provider of life insurance and
general insurance and mortgages.
Locations
The Hague, Leeuwarden, Groningen and Groningen
Customers
In the Netherlands, we use a variety of distribution channels to help customers assess the products and services appropriate for their
In recent years, we have invested heavily in its direct online channel.
Employees
Over 3,500 employees
(June 30, 2020)
Investments
Revenue-generating investments of EUR 96 billion
(June 30, 2020)
76% 5% 16% 3%
Life Non-life Banking Service business
Earnings
(Underlying earnings before tax, full year 2019)
EUR 648 million
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What we do
Aegon in the United Kingdom is the market leading investment platform in the country, providing a broad range of investment, retirement solutions and protection products to individuals, advisers and employers.
Locations
Edinburgh, London, Peterborough and Witham
Customers
Aegon UK accesses customers through wealth advisers and the workplace and has a market-leading position in each with 3.9 million customers.
Employees
Over 2,200 employees
(June 30, 2020)
Investments
Revenue-generating investments of GBP 180 billion
(June 30, 2020)
70% 30%
Existing business Digital solutions
Earnings
(Underlying earnings before tax, full year 2019)
GBP 122 million
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What we do
Aegon International brings together our businesses in Asia, and Southern and Eastern Europe. Its main business lines are life insurance, savings, pensions, asset management, general insurance and accident & health.
Geographical footprint
Aegon’s operations in Asia which are run via two major joint ventures in China and India, and several wholly-owned subsidiaries, including
in Hungary, Poland, Portugal, Romania, Spain and Turkey.
Customers
We serve our customers in these regions via multiple channels: agents, banks, brokers, direct marketing other intermediaries and
Employees
3,600 employees
(June 30, 2020; excluding agents)
Investments
Revenue-generating investments of EUR 15.7 billion
(June 30, 2020)
42 43 64 14
Spain & Portugal Hungary TLB China Others
Earnings
(Underlying earnings before tax, full year 2019, in EUR millions)
EUR 144 million
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What we do
Aegon Asset Management is a provider of investment management expertise to institutional and private investors around the world.
Geographical footprint
Aegon Asset Management has offices in the United States, the Netherlands, the United Kingdom, Hong Kong, Japan, Germany, Hungary and Spain.
Distribution
The variety of sales and distribution channels we have in the Americas, Europe and Asia include: affiliated companies, direct to institutional clients, independent investment advisors, investment consultants, joint ventures and third-party investment platforms.
Employees
Over 1,500 employees
(June 30, 2020)
Assets under management
Total assets under management of EUR 364 billion
(June 30, 2020)
44% 50% 6%
Global Platforms Strategic Partnerships Other
Earnings
(Underlying earnings before tax, full year 2019)
EUR 139 million
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Lard Friese CEO Matt Rider CFO Allegra van Hövell
CRO Duncan Russell
Chief Transformation Officer
Marco Keim CEO International Mike Holliday- Williams CEO Aegon UK Maarten Edixhoven CEO Aegon NL Bas NieuweWeme CEO AAM Onno van Klinken General Counsel Carla Mahieu Global Head HR Mark Bloom Chief Technology Officer Mark Mullin CEO Americas
Helping people achieve a lifetime of financial security