AsiaOur businesses

Aegon’s Asian businesses offer financial products and services across Asia Pacific ‒ a region of growing importance to our company.

We operate through three major joint ventures in China, India, and Japan, as well as our pan-Asian operations of Transamerica Life Bermuda (serving affluent and high net worth individuals) and Aegon Insights (our leading specialist in direct marketing). Asia continues to be an important growth market for financial services. With an increasing elderly middle class and low penetration of financial services, the region offers many opportunities for Aegon to further establish itself in this market.

Being able to reach the right customers at the right time is key for this – and therefore Aegon aims to grow its distribution network. Aegon Sony Life Insurance Company (ASLIC) – Aegon’s strategic partnership in Japan – secured multiple banking distribution agreements in 2016, expanding the number of bank partnerships to 24.

As a market for innovation, Asia will be a key foundation to delivering on our global strategy.


"Asia offers opportunities for top line growth and value creation for the foreseeable future as regional growth continues. The reasons to invest in Asia are stronger than ever. One fact is particularly striking: it is estimated that by 2030 approximately 60% of the world’s middle class will live in Asia. This is part of a massive change for which the industry and Aegon is preparing.

"Aegon Asia has strong joint venture partnerships and a global expertise that we can leverage. I strongly believe in customer service as an essential foundation for growth. We will continue to enhance customer experience by increasing the use of digital platforms. We aim to deliver real value to meet the evolving needs of the growing middle class and to help customers in selecting products that suit their needs."

- Andrew Byrne, CEO Aegon Asia

Digital business

As in the rest of our business, we continue to push for digital also in Asia. In China, digital initiatives include the rolling out of an app that allows customers to apply for a new policy by chatting to an Aegon Tsinghua Tongfang (THTF) representative via tablet. This digital way of working allows Aegon THTF to ‘meet’ customers at an early stage of the customer journey and build closer customer relationships.

In India, Aegon Life targets the rising affluent market with its increasing digital product offer. Customers have responded positively to digital products and services, as well as e-sales. The company ‒ already a recognized leader in the direct-to-consumer business and four-time winner of Fintelekt’s ‘e-Business Leader’ ‒ is well positioned to build on its direct-to-customer distribution through the company’s e-sales channel, supported by a specialized direct sales force. 


In Asia, we served 650,000 customers in 2016


In 2016, total earnings in Asia were €21 million


Average Retirement Readiness Score in Asia.

Restructuring sharpens focus

In August, Aegon Life announced a restructuring program to sharpen the joint venture’s focus on protection insurance and direct-to-consumer distribution. In line with our strategy, Aegon Life stopped using traditional agency and third-party tele-sales channels, and is looking for new partnerships with e-commerce businesses and online distributors of financial services.

Analytics improve NPS

NPS – the Net Promoter Score that shows to what extent customers would be willing to recommend us to friends and family – is an important measure of how we are doing in exceeding customers’ expectations.

While our NPS in India wasn’t low, there was room for improvement in identifying the real drivers of customer emotions. Aegon Life developed AUCUA Pulse, a cloud-based NPS analytical tool that represents customers’ top likes and dislikes, which consequently made it easier to interpret and measure NPS responses and to quickly act on neutral or negative scores. Consequently, over the course of 2016 we have seen an increase in touchpoint NPS – the NPS measurement that captures the quality of contact moments – from 5 to 44.