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

Following 'The Changing Face of Retirement' survey, which studied retirement readiness across Europe and the United States, Aegon has recently released a supplemental report on aging trends within Japan. The Japanese have traditionally been recognized for their high savings rates, however this trend has changed since the mid-1990s. Aegon's study has revealed that the decline in Japan's saving rates has been so stark that household savings behavior now lags behind other countries surveyed. Although individuals do acknowledge the importance of planning for retirement, only 2% feel they are saving enough. Aegon, with its partner Sony Life, provides annuity products in Japan to serve the increasing need for retirement solutions. During 2012, Aegon Sony Life substantially increased its sales as it expanded its distribution reach by adding new bank partners and further leveraged on Sony Life's network of over 4,000 professional agents.

          Financial overview c)  



                             Q4    Q3
    EUR millions    Notes  2012  2012     % Q4 2011    % FY 2012 FY 2011     %

    Underlying
    earnings before
    tax
    Americas                342   344   (1)     316    8   1,317   1,273     3
    The Netherlands          83    82     1      75   11     315     298     6
    United Kingdom           25    26   (4)    (26)    -     105       5     -
    New markets              52    70  (26)      65 (20)     274     249    10
    Holding and
    other                  (55)  (50)  (10)    (84)   35   (224)   (303)    26
    Underlying
    earnings before
    tax                     447   472   (5)     346   29   1,787   1,522    17

    Fair value
    items                  (79) (126)    37    (20)    -      52   (416)     -
    Realized gains
    / (losses) on
    investments             149   128    16      49    -     407     446   (9)
    Impairment
    charges                (58)  (35)  (66)    (94)   38   (176)   (388)    55
    Other income /
    (charges)               106     3     -   (194)    -   (162)   (267)    39
    Run-off
    businesses             (14)    12     -       1    -       2      28  (93)
    Income before
    tax                     551   454    21      88    -   1,910     925    ##
    Income tax            (129)  (80)  (61)     (7)    -   (339)    (53)     -
    Net income              422   374    13      81    -   1,571     872    80

    Net income /
    (loss)
    attributable
    to:
    Equity holders
    of Aegon N.V.           422   373    13      79    -   1,570     869    81
    Non-controlling
    interests                 -     1     -       2    -       1       3  (67)

    Net underlying
    earnings                348   369   (6)     253   38   1,382   1,233    12

    Commissions and
    expenses              1,478 1,382     7   1,684 (12)   5,829   6,272   (7)
    of which
    operating
    expenses           11   848 798       6     872  (3)   3,241   3,442   (6)

    New life sales
    Life single
    premiums              2,058 1,125    83   1,876   10   5,411   5,864   (8)
    Life recurring
    premiums
    annualized              471   293    61     311   51   1,414   1,249    13
    Total recurring
    plus 1/10
    single                  677   405    67     498   36   1,955   1,835     7

    New life sales
    Americas           12   148   126    17     109   36     520     418    24
    The Netherlands         166    25     -     117   42     246     254   (3)
    United Kingdom          306   206    49     189   62     936     852    10
    New markets        12    57    48    19      83 (31)     253     311  (19)
    Total recurring
    plus 1/10
    single                  677   405    67     498   36   1,955   1,835     7

    New premium
    production
    accident and
    health
    insurance               196   190     3     188    4     768     645    19
    New premium
    production
    general
    insurance                16    12    33      13   23      55      52     6

    Gross deposits
    (on and off
    balance)
    Americas           12 6,615 6,391     4   5,009   32  27,042  23,028    17
    The Netherlands         282   275     3     560 (50)   1,484   2,048  (28)
    United Kingdom           15     5   200       9   67      37      56  (34)
    New markets        12 2,334 2,755  (15)   1,522   53  10,909   6,556    66
    Total gross
    deposits              9,246 9,426   (2)   7,100   30  39,472  31,688    25

    Net deposits
    (on and off
    balance)
    Americas           12   788   904  (13)   (886)    -   3,491   2,147    63
    The Netherlands       (248) (480)    48   (160) (55)   (979)   (334) (193)
    United Kingdom            5   (6)     -       1    -     (3)      18     -
    New markets        12   446 1,208  (63)     108    -   3,637 (2,596)     -
    Total net
    deposits
    excluding
    run-off
    businesses              991 1,626  (39)   (937)    -   6,146   (765)     -
    Run-off
    businesses            (601) (301) (100)   (611)    2 (2,541) (3,139)    19
    Total net
    deposits                390 1,325  (71) (1,548)    -   3,605 (3,904)     -
    Revenue-generating
    investments

                                  Dec. 31, Sept. 30,
                                      2012      2012   %
    Revenue-generating
    investments (total)            457,856   463,041  (1)
    Investments general account    146,234   147,955  (1)
    Investments for account of
    policyholders                  153,670   156,831  (2)
    Off balance sheet
    investments third parties      157,952   158,255   -

OPERATIONAL HIGHLIGHTS

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