Aegon Ltd. · EURONEXT:AGN
Aegon — Shareholder Meeting (2009)
8 slides from Aegon's shareholder meeting presentation, 2009
Slide 1: Full year 2008 results
Full year 2008 results Jos Streppel, Chief Financial Officer Local knowledge. Global power. 1
Slide 2: Strong capital position
Strong capital position December 31, 2007 December 31, 2008 Insurance Group Directive EUR 6.7 billion EUR 5.6 billion (IGD) surplus capital* (190%) (183%) S&P risk-based insurance capital model excess capital in EUR 1.6 billion EUR 2.9 billion operating units above AA level and holding NAIC RBC rati
Slide 3: Core capital primarily impacted by unrealized losses
Core capital primarily impacted by unrealized losses Core capital* development 2008 (EUR billion) 3.0 (0.1) 16.2 (7.2) 15.7 (1.1) (0.2) (0.9) 9.1 Dec 31, 07 Net income Movements in Dividends and Convertible core Other changes Dec 31, 08 Revaluation Dec 31, 08 excluding foreign currency coupons on ca
Slide 4: 2008 net loss driven by fair value items and impairments
2008 net loss driven by fair value items and impairments 2008 net income mainly impacted by financial markets: o Underlying earnings affected by reserves strengthening, DPAC* and lower fees o Underperformance of fair value items o Impairments on structured assets, financial institutions, high yield
Slide 5: 2008 new life sales impacted by market turmoil
2008 new life sales impacted by market turmoil o 2008 new life sales down 20% to EUR 2,631 million – In the Americas Boli/Coli* and life reinsurance drove the decline in sales – UK sales held up well due to growth in individual annuities and corporate pension markets – Dutch new life sales declined
Slide 6: Strong deposits drive net inflows
Strong deposits drive net inflows o 2008 net deposits of EUR 3.4 billion (+38%) – Continued strong inflows in institutional fee based products, retirement plans in the US – Strong increase in net deposits driven by fixed annuities o 2008 gross deposits of EUR 40.8 billion (-8%) – Growth of fixed ann
Slide 7: Strong value of new business
Strong value of new business o 2008 value of new business down 10% to EUR 837 million – VNB in Americas up 4% due to a rise in fixed annuities sales – Higher VNB in the UK driven by higher margins – Lower VNB in Other countries mainly due to lower sales in Taiwan – VNB in the Netherlands declined wh
Slide 8: Weathering the storm
Conclusions o Earnings clearly impacted by financial markets o Core business remains resilient o Capital position remains strong o Cost reductions underway o Adequate contingencies in place Weathering the storm Local knowledge. Global power. 8