Aegon Ltd. · EURONEXT:AGN
Aegon — Investor Presentation (April 2010)
23 slides from Aegon's investor presentation, Apr 13, 2010
Slide 1: New reporting structure
New reporting structure Jan Nooitgedagt CFO London - April 13, 2010
Slide 2: New reporting format to reflect organizational changes
New reporting format to reflect organizational changes Rational for new reporting structure o More closely aligned with the way AEGON manages its businesses o Replace redundant information with more useful information o More accountability for those that run the businesses Other changes o Use of ope
Slide 3: Improved disclosure in financial supplement
Improved disclosure in financial supplement o Fair value items disclosure included in financial supplement o Disclosure on Americas to follow new organizational structure o Additional disclosure on account balances in the Netherlands and United Kingdom o Additional disclosure on variable annuities i
Slide 4: Old reporting structure – reporting by line of business
Old reporting structure – reporting by line of business Underlying earnings before tax Interest Share in net Life & Ind. savings Pension & Institutional Life re- General Distribution charges and results of protection & retirement asset mngt products insurance insurance other associates o Fair value
Slide 5: New reporting structure - reporting by segments
New reporting structure - reporting by segments Underlying earnings before tax Holding & other Americas The Netherlands United Kingdom New Markets activities o Fair value items o Realized gains / (losses) on investments o Impairment charges o Other income / (charges) o Run-off businesses o Income ta
Slide 6: Details of underlying earnings by line of business
Details of underlying earnings by line of business Holding, The United New other Total Americas Netherlands Kingdom markets activities EUR Underlying earnings before tax by line of business Life Individual savings and retirement products Pensions Life reinsuran
Slide 7: Fair value items disclosure is added to financial supplement
Fair value items disclosure is added to financial supplement o Fair value items: – Includes over or under performance of investments and guarantees held at fair value, for which the expected long-term return is included in underlying earnings o All fair value results on investments and liabilities t
Slide 8: Run-off businesses taken out of underlying earnings
Run-off businesses taken out of underlying earnings o Businesses in run-off include: – US institutional spread-based business – US pay-out annuities (structured settlements) o US institutional spread-based business: – Unrealized loss before tax of USD (1.4) billion amortized through run-off institut
Slide 9: Americas – aligned with management changes
Americas – aligned with management changes WFG Clark Brazil DIA Work Mexico ADMS site Korea TCM TRM Argos Boli/ SVS EU Mon Life Coli Japan LTC Canada TAM TRC US Mong Underlying earnings Individual Employer Life and Life Savings and Solutions and Canada Latin America Protection Reinsurance Retirement
Slide 10: Americas - divisional restructuring
Americas - divisional restructuring Previous Reporting Structure New Reporting Structure Life and Protection AEGON Direct Marketing Services No change Life and Protection Long Term Care No change Life and Protection Monumental Life No change Life and Protection World Financial Group No change Life a
Slide 11: Americas – new press release tables
Americas – new press release tables Reported Revised USD millions FY 2009 USD millions FY 2009 Underlying earnings before tax by line of business Underlying earnings before tax Life 653 Accident and health 314 Life and protection 967 Life and protection 903 Fixed annuities 311 Fixed annuities 334 Va
Slide 12: The Netherlands
The Netherlands o Savings to be reported under Life insurance o Accident & health to be reported under Non-life insurance o Financial supplement to include account balances for – Life insurance • General account • Policyholder account • Investment contracts – Pensions • General account • Policy hold
Slide 13: The Netherlands – new press release tables
The Netherlands – new press release tables Reported Revised EUR millions FY 2009 EUR millions FY 2009 Underlying earnings before tax by line of business Underlying earnings before tax Life 234 Accident and health 28 Life and protection 262 Life and Savings 180 Saving products (54) Individual savings
Slide 14: United Kingdom
United Kingdom o Financial supplement to include account balances for – Life insurance • General account • Policy holder account – Pensions • General account • Pension contracts – policy holder account Local knowledge. Global power. 14
Slide 15: United Kingdom – new press release tables
United Kingdom – new press release tables Reported Revised GBP millions FY 2009 GBP millions FY 2009 Underlying earnings before tax by line of business Underlying earnings before tax Life 38 Life and protection 38 Life 38 Pensions and asset management 21 Pensions 25 Distribution (16) Distribution (1
Slide 16: New markets – new reporting structure
New markets – new reporting structure o Disclosure include earnings and revenues on: – Central and Eastern Europe – Asia – Spain – France – Variable annuities Europe – AEGON Asset Management Local knowledge. Global power. 16
Slide 17: New markets – additional disclosures
New markets – additional disclosures o Variable annuities Europe – Underlying earnings before tax – Balances roll forward o AEGON Asset Management (as of Q1 2010) – Account balances – Underlying earnings before tax – Net deposits (3rd party) – Asset under management and 3rd party assets Local knowle
Slide 18: New markets – new press release tables
New markets – new press release tables Reported Revised EUR millions FY 2009 EUR millions FY 2009 Underlying earnings before tax by line of business Underlying earnings before tax Life 58 Accident and health 2 Life and protection 60 Life* 57 Variable annuities - Variable annuities - Saving products
Slide 19: New reporting structure improves transparency
New reporting structure improves transparency o New reporting structure important step in our disclosure o New reporting structure more aligned with how businesses are managed o Improved disclosure in Netherlands, UK and New markets will further add to transparency Local knowledge. Global power. 19
Slide 20: Q&A
Q&A Local knowledge. Global power. 20
Slide 21: Upcoming AEGON events in 2010
Upcoming AEGON events in 2010 March 10 Citigroup Conference, New York City (CEO) 25 Morgan Stanley Financials Conference, London (CFO) April 29 Annual General Meeting of Shareholders, the Hague May 12 Q1 2010 results & European Embedded Value 2009 (CFO) June 09 Goldman Sachs Financials Conference, M
Slide 22: For questions please contact Investor Relations
For questions please contact Investor Relations T: +31 70 344 8305 E: ir@aegon.com P.O. Box 85 2501 CB The Hague The Netherlands Local knowledge. Global power. 22
Slide 23: Disclaimer
Disclaimer Forward-looking statements The statements contained in this presentation 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,