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AEGON Delivers Strong Underlying Earnings And Sales Growth; Capital Position Further Strengthened

Stocks in this article: AEG AEGN

 

    
    KEY PERFORMANCE INDICATORS
 
                                             Q2    Q1          Q2        YTD   YTD
    amounts in EUR millions [b)]    Notes  2012  2012    %   2011    %  2012  2011    %
 
    Underlying earnings before tax      1   443   425    4    401   10   868   815    7
 
    Net income                          2   254   521  (51)   404  (37)  775   731    6
 
    Sales                               3 1,604 1,758   (9) 1,261   27 3,362 2,672   26
 
    Market consistent value of new      4   117   125   (6)   138  (15)  242   259   (7)
    business
 
    Return on equity                    5  6.8%  6.9%   (1)   8.0% (15)  6.8%  7.9% (14)

 

For notes see page 25.

STRATEGIC HIGHLIGHTS

  • Joint venture with Banca Cívica ends as a result of consolidation process among banks in Spain
  • AEGON Asset Management to sell its minority stake in Prisma Capital Partners
  • Workplace Savings platform launched in the United Kingdom

Strategic update

At AEGON's recent analyst & investor conference in June, the company presented plans to strengthen AEGON's position in the At-Retirement market in North America, the Netherlands and the United Kingdom, while seeking to leverage its strong capabilities in providing protection and asset accumulation products and services in its developing markets throughout Central & Eastern Europe, Asia and Latin America.

Continued demographic and economic uncertainties have increased the opportunities for AEGON in pursuing its core mission of assisting customers achieve their long-term financial security. To capture these opportunities, AEGON will accelerate the development of new business models by investing in innovative technology driven distribution channels, with the aim of connecting better and more frequently with customers, improving service levels and increasing retention rates. AEGON will also extend its investments in technology to support intermediaries as they adapt to the changing environment for distribution.

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