Our value chainAegon today

Our value chain

Explanatory note
This chart is based on the International Integrated Reporting Council's (IIRC) six capitals: financial, human, intellectual, natural, manufactured and social & relationship. Each of these capitals represents a store of value, which companies use and transform through their business activities. It's important to remember that, during this process, capitals may increase or be depleted in value. For the purposes of our value chain, we've chosen the four capitals most relevant to our business (financial, human, intellectual and social & relationship).

  • Financial capital represents the funds to which we have access; this includes both debt and equity finance.
  • Intellectual capital refers to institutional knowledge, innovation and research etc. developed within the organization. Human capital is different – it refers to individual knowledge, skills and capacities in our workforce.
  • Social & relationship capital covers relationships developed both within and outside the organization. It includes relationships with customers, business partners and suppliers.

We've chosen not to include manufactured and natural capital. Neither are directly relevant to our core financial services business, though we may, of course, affect the value of these capitals through our investments. For more information on our use of IIRC capitals, see our Reporting Supplement.