Aegon TodayAround the clock, around the world

2016 saw a continued strategic move toward a more capital light, fee-based and digital business, to better suit the needs of our customers and our shareholders.

Our partnerships

In December 2016, Aegon and Banco Santander agreed to extend the scope of their bancassurance partnership in Spain by including health insurance. We also agreed to accelerate the commercial development of certain insurance products. Plus, we agreed with Banco Santander Totta to strengthen our commitment through a more ambitious business plan in Portugal by expanding where we can distribute. These agreements build on the successful development of the bancassurance partnership in Spain and Portugal in recent years.

Mongeral Aegon and BANCOOB (Banco Cooperativo do Brasil) received regulatory approval in August 2016 to set up a joint venture providing life insurance and pension solutions within the SICOOB System. SICOOB is the largest co-operative financial system in the country, with more than 3.6 million associates and 2,500 service points.


of our sales were made direct to customers in 2016 (up from 15% in 2015)


revenue generating assets are used to provide pensions, insurance and health benefits to our 26.5 million customers


Acquisition of Cofunds from Legal & General

What we bought and sold in 2016

In April, we sold two-thirds of our UK annuity portfolio to Rothesay Life, and in May we sold the rest to Legal & General. These transactions allowed us to focus on our platform and extend our asset base. This came after we bought BlackRock’s defined contribution platform earlier in the year.

We successfully bought Cofunds from Legal & General after regulatory approval. We announced the agreement to buy Cofunds from Legal & General for £140 million (€164 million) on August 11, 2016, and the transaction closed on January 1, 2017. The integration of the business is expected to be completed in the second half of 2018.

Transferring the Cofunds business onto our modern technology platform will mean we can do more to bring significant benefits for our customers and their advisors. When this is completed in 2018, over 750,000 customers will be serviced and over £100 billion will be administered on this market-leading platform.

In September, we entered into an agreement to sell 100% of our shares in Aegon Life Ukraine to the TAS Group, so leaving the Ukrainian market. The transaction closed on December 16, 2016.


On December 31, 2016, Aegon’s Group Solvency II ratio of 157% was in the upper end of the 140-170% target range. Our holding company excess capital increased from €1.4 billion at the end of 2015 to €1.5 billion at the end of 2016. 

Aegon today | Around the clock, around the world

We employ more than 29,000 employees around the world. We interact with our customers 24 hours a day, seven days a week, wherever, whenever, and however it suits them, whether offline or online.


Where we operate

Asia: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Thailand, Vietnam 
Europe: Czech Republic, Denmark, France, Germany, Hungary, Ireland, the Netherlands, Poland, Portugal, Romania, Slovakia, Spain, Turkey, Ukraine*, United Kingdom 
South America: Brazil North America: Bermuda, Canada, Mexico, United States 
* We sold our Ukraine business in September, 2016.  


We provide a wide range of life and non-life insurance products, including disability and critical illness and income-protection products. We distribute through agencies, third parties, and, increasingly, online.


We offer individual and group or company pension solutions in Brazil, the Netherlands, Spain, the US, and the UK. We also provide individual pension products in these countries, as well as China, the Czech Republic, China, Germany, India, Japan, Poland, Romania, Slovakia, Turkey and group or company pension products in Hungary.

Asset Management

We use our global investment expertise at Aegon Asset Management to provide services and products. Our clients are pension funds, and our insurance and other regulated subsidiaries – such as Aegon Bank and its customers.