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

During the quarter, we expanded further our distribution network in the United States and have secured an important new bank partnership in Spain. In addition, we have reinforced our position in Central & Eastern Europe by increasing our scale in Romania and entering Ukraine.

We are also pleased with the balanced agreement we have reached with our largest shareholder, Vereniging Aegon, to cancel all preferred shares. Following shareholder approval, this transaction will simplify Aegon's capital structure and enable us to maintain a high quality capital base under new European solvency requirements, and in a way that minimizes the impact on common shareholders.

We have made clear progress in positioning our businesses to compete successfully in the new environment. Moreover, our continued strong capital position and cash flows support our proposal to increase our final dividend to EUR 0.11 per share.

          Key performance indicators




    amounts in EUR
    millions b)         Notes Q4 2012  Q3 2012  % Q4 2011  % FY 2012 FY 2011  %

    Underlying
    earnings before
    tax                    1     447    472   (5)    346  29   1,787   1,522  17

    Net income             2     422    374   13      81   -   1,571     872  80

    Sales                  3   1,813  1,550   17   1,409  29   6,725   5,701  18

    Market consistent
    value of new
    business               4     204    173   18      71 187     619     422  47

    Return on equity       5    7.2%   7.7%   (6)   5.2%  38    7.1%    6.7%   6

STRATEGIC HIGHLIGHTS

  • Aegon forms strategic partnership with Banco Santander in Spain; ends JV with Unnim
  • Position in Central & Eastern Europe strengthened with acquisitions in Romania and Ukraine

Aegon ' s ambition At Aegon's latest analyst & investor conference in December 2012, management highlighted the progress underway in delivering on its strategic priorities and detailed actions underway in Aegon's largest market, the United States, to capture opportunities while delivering sustainable, profitable growth, consistent with Aegon's strict risk-return requirements. Aegon's operations in the United States - which now all operate under the Transamerica brand - are pursuing growth by focusing on the core markets of life and supplemental health insurance, pensions and at-retirement solutions through product innovation, expanding distribution and differentiated customer service.

Aegon's aim to be a leader in all of its chosen markets by 2015 is supported by four strategic objectives: Optimize portfolio, Enhance customer loyalty, Deliver operational excellence and Empower employees. These key objectives have been embedded in all Aegon businesses. They provide the strategic framework for the company's ambition to become the most-recommended life insurance and pension provider by customers and business partners, as well as the most-preferred employer in the sector.

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