Create and share valueHow we create and share value

Effective business partnering helps us to accelerate the execution of our strategy, optimize our resources and maximize our strengths to mutual benefit. By working with companies that share our vision and values, we become stronger than the sum of our parts.

We forge joint venture partnerships to help us quickly enter countries in which we would otherwise be unable to do business. One such example is the Aegon Asset Management and Industrial Securities joint venture Aegon Industrial Fund Management Company in China.

By partnering with La Banque Postale Asset Management (LBPAM) in 2015, Aegon secured access to an established distribution network in France, while LBPAM benefits from Aegon’s investment expertise.

Our Sustainable Procurement Policy

In all our partnerships, Aegon is committed to high standards of business conduct, as reflected in the Aegon Code of Conduct. Aegon expects all its suppliers to adhere to similar values, standards and business ethics.

To that end, we require our businesses worldwide to conduct regular risk assessments of our key suppliers to enable Aegon to identify and manage social and environmental sustainability risks associated with the purchase of goods and services. The Sustainable Procurement Policy also serves to create a positive and constructive relationship between Aegon, its suppliers, and the communities in which they operate. This enables us to reinforce our broader aim to contribute to well-being and sustainable economic development through our business activities.

16%

of our sales are made direct-to-customer through agents, affinity marketing or online.

€3.1billion

We paid €3.1 billion on commissions and related expenses in 2016

€332billion

Aegon Asset Management manages assets of €332 billion

Partners in innovation

In February 2016, Aegon UK partnered with Intelliflo, a two-way integration provider that links a business management system, ‘intelligent office’, and Aegon’s One Retirement Choices platform to speed up processes. A few months later, Aegon bought a minority stake in ROMEO Financial Services, which provides back-office services for financial advisors as well as a new ‘hybrid’ franchise for mortgages and insurance. The concept couples face-to-face interaction with a digitally fast response. This fits our multi-channel approach – meaning that customers choose themselves how to interact, whether it be through an advisor, a bank, in person, by phone, digitally, or by other means.

Start-up investments

For the past three years, our dedicated investment fund, Transamerica Ventures, has explored the potential to invest in, and partner with, start-ups that provide Aegon with insights into its transition to digitization, to becoming a company that maintains its own contacts with end-clients. Our intentions are more than simply financial: we also hope to become a client of select, small companies in which we invest in the fields of data analysis, digital financial advisory services, cybercrime security and more.

In 2016, the fund had 15 investments in its portfolio. This included peer-to-peer alternative lender auxmoney, cloud access security and encryption company Ciphercloud, digital wealth advisor Next Capital and the Digital Currency Group, a holding and consulting company for crypto currency and blockchain solutions.

Mercer and Aegon share a passion for service excellence and delivering value through engagement and innovation.

 

CASE STUDY: A PREFFERED SUPPLIER

Aegon is a preferred supplier to Mercer, the global consulting leader advising clients on the health, wealth and careers of their workforce. 

Transamerica partners with Mercer in the US pension administration business. In 2015, Aegon acquired Mercer’s US defined contribution administration business providing clients with enhanced retirement planning, reporting and mobile access. In the UK, Mercer Workplace Savings includes the Aegon Retirement Choices (ARC) platform. 

Fiona Dunsire, CEO, Mercer UK, says: “Mercer and Aegon share a passion for service excellence and delivering value through engagement and innovation. We’re proud that together we improve the financial well-being of individuals and their families in the US and the UK.”