Aegon Ltd. · EURONEXT:AGN
Aegon — Shareholder Meeting (May 2011)
11 slides from Aegon's shareholder meeting presentation, May 12, 2011
Slide 1: Annual General Meeting of Shareholders AEGON N.V.
Annual General Meeting of Shareholders AEGON N.V. The Hague, May 12, 2011
Slide 2: Full year 2010 & first quarter 2011 results
Full year 2010 & first quarter 2011 results Jan Nooitgedagt CFO & Member of the Executive Board
Slide 3: Considerable improvement underlying earnings and net income in 2010
Considerable improvement underlying earnings and net income in 2010 Underlying earnings before tax up due to: Underlying earnings before tax (EUR billion) ► Business growth 1.97 ► Cost savings 1.19 ► Further improvements financial markets ► Strengthening USD against EUR 2009 2010 Significant imp
Slide 4: Underlying earnings country units
Underlying earnings country units Americas’ earnings up 84%, due to ► Growth of the business, cost savings, higher fee income, recovery financial markets Earnings in the Netherlands remained strong Earnings UK up 30%, due to ► Growth of the business and improved financial markets Increase in
Slide 5: Strong sales & deposits demonstrating solid franchise
Strong sales & deposits demonstrating solid franchise New life sales up New life sales (EUR billion) ► US: strong retail sales partly offset by lower life 2.10 2.21 reinsurance sales ► NL: strong pension sales ► UK: higher sales of pension partly offset by planned decrease in sales of immediate an
Slide 6: Strong sales & deposits demonstrating solid franchise
Strong sales & deposits demonstrating solid franchise New life sales up New life sales (EUR billion) ► US: strong retail sales partly offset by lower life 2.10 2.21 reinsurance sales ► NL: strong pension sales ► UK: higher sales of pension partly offset by planned decrease in sales of immediate an
Slide 7: Results highlighted
Results highlighted Underlying earnings before tax Operational free cash flows (EUR million) EUR million Q1 2011 Earnings on in force 523 Return on free surplus 17 446 483 452 452 414 Release of required surplus (1) New business strain (275) Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Operational free c
Slide 8: Continued strong capital position
Continued strong capital position As per March 31, 2011 As per December 31, 2010 Core capital EUR 17.6 billion EUR 18.7 billion Shareholders’ equity EUR 16.9 billion EUR 17.2 billion Core capital ratio 75% 75% Excess capital EUR 3.7 billion EUR 3.8 billion Holding EUR 1.3 billion EUR 1.7 billion Ope
Slide 9: Impairments considerably down in 2010
Impairments considerably down in 2010 Impairments (EUR million) 501 416 385 394 286 212 150 133 92 62 77 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 24
Slide 10: Total embedded value up 6% to EUR 18.9 billion
Total embedded value up 6% to EUR 18.9 billion Total embedded value increased mainly due to positive performance of in-force business as a result of cost savings, improved financial markets and strengthening of currencies EUR million, except per share data 2010 2009 Δ Embedded value life insurance
Slide 11: Key messages
Key messages Solid progress on strategic objectives Strong earnings and sales of pensions and variable annuities in the US Underlying earnings impacted by exceptional charges and longevity provisioning Continued focus on cost control Strong excess capital of EUR 3.7 billion Total embedde