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Aegon Grows Earnings And Sales In Q4; Proposes Increased Final Dividend

THE HAGUE, the Netherlands, February 15, 2013 /PRNewswire/ --

  • Higher underlying earnings driven by growth, lower expenses and favorable markets
  • Underlying earnings increase 29% to EUR 447 million as a result of business growth, successful delivery on cost reduction programs, the non-recurrence of exceptional charges in the UK and favorable equity markets and currency movements
  • Strong increase in net income to EUR 422 million driven by higher underlying earnings, realized gains on investments, lower impairments and book gains on divestments
  • Return on equity increases to 7.2%, and 8.0% excluding run-off businesses
  • Consecutive sales growth
  • New life sales increase 36% to EUR 677 million; particularly strong sales in the UK, NL and US
  • Accident & health and general insurance sales increase 5% to EUR 212 million
  • Deposits of EUR 9.2 billion; 30% increase reflects continued strong pension, variable annuity and asset management deposits
  • Market consistent value of new business increases strongly to EUR 204 million as a result of product repricing, improved margins and higher sales
  • Strong capital position and cash flows
  • Capital base ratio of 76.7%, well-above target of at least 75% by year-end 2012
  • IGD a) solvency ratio increases to 230%
  • Operational free cash flow of EUR 530 million
  • Final dividend of EUR 0.11 per common share

Statement of Alex Wynaendts, CEO

Our solid fourth quarter performance, both in terms of sales and earnings, is a result of the steps we have taken to transform our business. We continue to experience strong customer demand for our core products and services in each of our markets, reflecting the strength of our franchise. Furthermore, our disciplined approach to pricing demonstrates our commitment to selling products that provide value for both our customers and Aegon in the continuing low interest rate environment.

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