THE HAGUE, The Netherlands, June 19, 2012 /PRNewswire/ --
AEGON CEO Alex Wynaendts will detail later today the company's approach for capturing growth in its core businesses and markets in the coming years. Speaking at the opening of AEGON's two-day Analyst & Investor Conference in London, Mr. Wynaendts will present 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.
In recent years, AEGON has implemented a broad restructuring program to sharpen its focus on its core lines of business, reduce significantly its overall cost base, and create greater efficiencies across the organization. This has resulted in a shift from spread-based to fee-generating business and a substantially improved risk-return profile, the divestment of non-core businesses and an improved capital base ratio.
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, as is underway in the United Kingdom and the Netherlands.
"Getting much closer to the people who depend on us requires developing new direct relationships by accelerating our investment in technology and better leveraging local initiatives across our businesses," said Mr. Wynaendts. "The opportunities for our business are substantial and the actions we have taken in recent years have strengthened AEGON's position, consistent with our targets and aim to be a leader in all our chosen markets in the coming years."
The conference presentations will be available on AEGON's corporate website at 4.30 pm GMT / 5.30 pm CET at http://www.aegon.com/. The presentation will be webcast live also on the website beginning at 5 pm GMT / 6 pm CET.
As an international life insurance, pensions and asset management company based in The Hague, AEGON has businesses in over twenty markets in the Americas, Europe and Asia. AEGON companies employ over 25,000 people and have nearly
47 million customers across the globe.
Key figures - EUR Q1 2012 2011
Underlying earnings before
tax 425 million 1.5 billion
New life sales 445 million 1.8 billion
Gross deposits 11.0 billion 32 billion
(end of period) 437 billion 424 billion
Cautionary note regarding non-GAAP measures
This document includes a non-GAAP financial measure: underlying earnings before tax. The reconciliation of underlying earnings before tax to the most comparable IFRS measure is provided in Note 3 "Segment information" of AEGON's Condensed consolidated interim financial statements.
The statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, is confident, will, and similar expressions as they relate to AEGON. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. AEGON undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include but are not limited to the following:
Further details of potential risks and uncertainties affecting the company are described in the company's filings with NYSE Euronext Amsterdam and the US Securities and Exchange Commission, including the Annual Report. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, the company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Media Relations:Greg Tucker
Investor Relations:Willem van den Berg
SOURCE AEGON N.V.