Aegon Ltd. · EURONEXT:AGN
Aegon — Shareholder Meeting (April 2010)
12 slides from Aegon's shareholder meeting presentation, Apr 29, 2010
Slide 1: Welcome to the Annual General Meeting of Shareholders
Welcome to the Annual General Meeting of Shareholders AEGON N.V. Welkom op de jaarlijkse Algemene Vergadering van A d lh d Aandeelhouders AEGON NN.V. V In order to hear a simultaneous translation into English, we would like to offer you the use of a headset. headset Please, Please choose channel 4 4
Slide 2: Full year 2009 results
Full year 2009 results Jan Nooitgedagt, CFO & Member of the Executive Board
Slide 3: Return to profitability in 2009
Return to profitability in 2009 o Underlying earnings down 26% - a reflection primarily of: – Lower investment income – Reserve strengthening – Accelerated amortization of deferred policy acquisition costs o Return to profitability Underlying earnings before tax Net income (EUR million) (EUR million
Slide 4: Robust new life sales demonstrating solid franchise
Robust new life sales demonstrating solid franchise o New life sales remained strong, despite difficult market conditions o Gross deposits up 6% - driven by pension deposits and VA business in Americas and Europe o Fixed annuities managed lower o VNB decreased by 8% New life sales Gross deposits* Va
Slide 5: Continued strong deposits
Continued strong deposits o Gross deposits of EUR 23.6 23 6 billion billion* o Net deposits of EUR 5.5 billion* Gross deposits* full year 2009 (EUR millions) 11,045 3,377 3,055 3,032 3,117 23,628 Pensions and asset Fixed annuities Variable annuities Savings deposits Retail mutual funds Total managem
Slide 6: Underlying earnings country units
Underlying earnings country units o Earnings impacted by: – Lower investment & fee income in all countries – Reserve strengthening and accelerated DPAC in US – Provisions related to improvement of consistency of customer records in UK – Continued growth in Other countries Americas The Netherlands Un
Slide 7: Impairments trending down
Impairments trending down o Impairments are trending down, but continue at elevated levels o Full year US net credit impairments of 120 bps, above the long-term average Impairments (EUR million) 501 407 393 146 386 82 63 102 285 93 209 355 330 64 284 325 192 145 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 ■
Slide 8: Limited exposure to peripheral European sovereigns
Limited exposure to peripheral European sovereigns EUR million Portugal 58 Greece 92 Ireland 138 Italy 143 Spain 1,784 Local knowledge. Global power. 8
Slide 9: Shareholders' equity doubled
Shareholders’ equity doubled o Shareholders' equity doubled in 2009 due to strong improvement in revaluation reserve o Shareholders Shareholders’ equity per common share of EUR 5 5.88 88 at the end of 2009 Shareholders’ equity development 2009 (EUR billion) 6.1 12.2 FY 2008 FY 2009 Local knowledge.
Slide 10: AEGON is well prepared for Solvency II
AEGON is well prepared for Solvency II o AEGON supports the principles of Solvency II o AEGON has been preparing since 2005 – Internal economic capital model more conservative than QIS 4* – Economic pricing embedded in product pricing o Outcome QIS 5 * remains uncertain – Outstanding issues well kno
Slide 11: Managing AEGON as an international group
Managing AEGON as an international group Local knowledge. Global power. 11
Slide 12: Thank you
Thank you Dank u wel LIFE INSURANCE PENSIONS INVESTMENTS