Aegon is an international financial services, insurance, pensions and asset management company. Every year, we help millions of people plan and invest for the future.
We help them at the most critical moments of their lives: when they're starting a family, paying for their children's education or preparing for retirement – sometimes when they are at their most vulnerable, during long-term illnesses, or have lost a loved one. In retirement particularly, we see a connection between wealth and well-being. Our purpose is to help our customers achieve a lifetime of financial security.
Aegon's history dates back
Aegon, as we know it today, was formed in 1983, with the merger of two Dutch insurance companies, AGO and Ennia. With our headquarters in The Hague, we now serve almost 29 million customers, and manage €817 billion in investments, both for our customers and for our own account. Our main operations are in the US, Netherlands and UK. Of these, the US is by far the largest, accounting for approximately two-thirds of our earnings. In the US, we operate as Transamerica. We also have a number of global businesses: our asset management activities, for example, which operate as Aegon Asset Management, as well as Transamerica Ventures and Blue Square Re, our internal reinsurance company. In addition, we have operations in Central & Eastern Europe and Latin America. Included in these are joint ventures with other companies – in Brazil with Mongeral, for example, in Japan with Sony Life, or with Banco Santander in Spain and Portugal. These partnerships support distribution of our products and services and help strengthen our overall market position.
We offer a range of financial products; these include life insurance, pensions, retirement plans, property & casualty cover, savings products and investments1. Most of our income comes from our life insurance, individual savings & retirement, pensions and asset management businesses. In recent years, we've been through several significant reorganizations – to simplify operations, reduce costs, invest more in digital and bring our businesses much closer to their customers.
Our business model
- Products & services
We begin with the customer – we assess the customer's needs, price risk and develop products and services that fit with those needs. Our products and services are then branded and marketed.
Some of our products and services are sold directly to customers. We sell most, however, via intermediaries, including brokers, agents and financial advisors.
- Asset management
In exchange, customers pay fees or regular premiums. On pensions, savings and investments, customers make deposits. We invest the money we receive and, over time, work to increase its value.
- Claims & benefits
From the returns we make, we pay customer claims and benefits, and make profits for our shareholders. Customers also make regular withdrawals from pensions and savings products.
1 For more information about our products and services, see our Annual Report.