Slide 1: Third quarter 2011 results
Exhibit 99.1 Third quarter 2011 results Jan Nooitgedagt CFO Analyst & Investor presentation The Hague, November 10, 2011
Slide 2: Update of interest rate assumptions to reflect current environment
Update of interest rate assumptions to reflect current environment Assumed 10-year US Treasury rate 10-year US Treasury assumption (Percentage) lowered to 4.75% from 5.25% Grading from current yield to 4.75% in five years Five year average rate lowered by 90 bps Old assumption 4.3% New assumption 3.
Slide 3: Reducing costs in Dutch insurance and banking businesses
Reducing costs in Dutch insurance and banking businesses Operating expenses Cost reduction of EUR 100 million from 2010 level (EUR million) Majority of savings to be achieved in 2012 Restructuring charge of EUR 60 million in Q3 2011 Initiatives enacted: Closing AEGON Bank’s office in Nieuwegein Redu
Slide 4: Growth in US fee-based business offset by lower equity markets
Growth in US fee-based business offset by lower equity markets Employer Solutions & Pensions balances continue to increase Innovation and customer service is the cornerstone of the pension growth strategy reflected by continued strong pension deposits due to higher takeover assets combined with low
Slide 5: Operational free cash flows affected by interest rates and equity markets
Operational free cash flows affected by interest rates and equity markets Impact lower interest rates and equity markets Earnings on the in-force impacted by EUR 0.1 billion Higher required capital of EUR 1.1 billion in the US Investments in new business increased as a result of higher pension and v
Slide 6: Limited exposure in general account to peripheral European countries
Limited exposure in general account to peripheral European countries Total exposure to peripheral European sovereigns 0.8% of general account Exposure to Spain increased following the proportional inclusion of Caixa Sabadell Vida assets Corporate debt mainly related to defensive sectors, for example
Slide 7: Continued strong excess capital position
Continued strong excess capital position Total excess capital of EUR 3.4 billion Excess capital of EUR 2.2 billion in operating units, increase mainly driven by fair value movements in the guarantees in the Netherlands Holding excess capital of EUR 1.2 billion, above targeted EUR 900 million Positiv
Slide 8: Release of capital from run-off businesses
Release of capital from run-off businesses Release of capital following the divestment of life reinsurance activities and lower institutional spread-based balances Current capital allocated to run-off businesses of EUR 2.1 billion Return on capital of run-off businesses of 1.6% YTD Capital intensive
Slide 9: General account investments roll-forward
General account investments roll-forward General account investment roll-forward EUR billion Americas The Netherlands United Kingdom New Markets Opening balance June 30, 2011 84.0 36.8 8.8 2.8 Net in- and outflow (0.9) 1.1 (0.0) 0.6 Unrealized / realized results 1.9 0.4 0.3 (0.0) Foreign exchange 6.
Slide 10: Impairments by asset class
Impairments by asset class AEGON general account investments Q3 2011 impairments / (recoveries) by country unit - IFRS basis (pre-DAC, pre-tax) EUR millions Americas NL UK New Markets Total ABS – Housing - - - - - ABS – Non-housing (0) - - - (0) CMBS 0 - - - 0 RMBS 64 - - - 64 Subtotal structured as
Slide 11: Commercial mortgage loans
Commercial mortgage loans USD 10.9 billion commercial mortgage loan portfolio* Sound debt service coverage ratio of 1.7 Average LTV of 65% Own origination * Includes commercial mortgage loans, agricultureloans, and mortgage loan originatedbond portfolios NOTE: Other commercial includes ** Included i
Slide 12: Reconciliation of effective tax rate Q3 2011
Reconciliation of effective tax rate Q3 2011 Reconciliation of effective tax rate Q3 2011 EUR million Americas The Netherlands United Kingdom New Markets/ Holdings Total Income before tax (2) 86 (13) (87) (16) Nominal tax rate 35.00% 1 25.00% (22) 26.50% 3 25.00% 23 5 Actual income tax 72 (23) 13 14
Slide 13: Disclaimer
Disclaimer Cautionary note regarding non-GAAP measures This document includes certain non-GAAP financial measures: underlying earnings before tax and value of new business. The reconciliation of underlying earnings before tax to the most comparable IFRS measure is provided in Note 3 "Segment informa