Aegon Ltd. is a Dutch public company for life insurance, pensions and asset management. It is headquartered in the Netherlands, and has 26,000 employees as of July 21, 2020. Aegon is listed on the Euronext Amsterdam and is a constituent of the AEX index. It also operated a direct bank under the brand name "Knab" in the Netherlands. In October 2022, it was announced that AEGON's Dutch operations would be acquired by ASR Nederland (29.99% of which is owned by AEGON). To the extent they had the AEGON trade name, it will become ASR; Knab and TKP will keep their names. Subsequently, AEGON reincorporated in Bermuda.Aegon’s group supervision to transfer from Dutch Central Bank to Bermuda Monetary Authority. Archived 30 June 2023.
History
Aegon was founded in 1983 from the merger of AGO Holding N.V. (created by the merger of Algemeene Friesche, Groot-Noordhollandsche and Olveh (Onderlinge Verzekeringsmaatschappij Eigen Hulp) in 1968) and Ennia N.V. (formed by the merger of Eerste Nederlandsche and Nillmij (Nederlandsch-Indische Levensverzekering- en Lijfrente-Maatschappij) in 1969).
Aegon acquired Scottish Equitable in 1994.Aegon plans further deals after GRE buy Independent, 13 August 1999 In 1998, it formed Stonebridge International Insurance Ltd to create and market a range of personal insurance products, providing accident, health and unemployment cover to its own customers and via business partners.
In 1999, it acquired the life assurance business of Guardian Royal Exchange. That year it also bought Transamerica Corporation.
On August 13, 2007, Aegon and Merrill Lynch announced a strategic business partnership in the areas of life insurance and investment products. As part of the relationship, Aegon acquired two of Merrill Lynch's life insurance companies for US$1.3 billion.Aegon buys Merrill Lynch insurance companies for $1.3bn Marketwatch, 13 August 2007
On April 23, 2008, Alex Wynaendts succeeded the retiring Donald J. Shepard as chairman of the executive board and CEO of Aegon N.V. following the group's annual general meeting of shareholders: Donald Shepard announced his retirement in November 2007, after six years as chairman.Alex Wynaendts to succeed Donald Shepard as Chairman of Aegon PR Newswire, 8 November 2008
On October 28, 2008, the Dutch government and De Nederlandsche Bank agreed to give Aegon a €3 billion capital injection to create a capital buffer in exchange for convertible bonds due to the effects of the 2008 financial crisis.reinforces AEGON’s capital position by EUR 3 billion De Nederlandische Bank, 28 October 2008 On June 15, 2011, Aegon fulfilled its key objective of repurchasing all of the €3 billion core capital securities issued to the Dutch state. The total amount Aegon has paid to the Dutch state amounts to €4.1 billion. Of this amount, €3 billion covered the original issue of core capital securities, while an additional €1.1 billion was paid in premium and interest.
On August 3, 2011, Aegon USA announced that all its various businesses will be grouped under a single brand name: Transamerica. Transamerica's key businesses are life insurance, investments and retirement. The group includes companies whose history goes back over 100 years and whose products and services have become well known throughout the US, including founding companies Life Investors Insurance Company of America and Monumental Life Insurance Company.
In June 2018, AEGON was criticized by Greenpeace for its investments in oil sand companies and pipelines.Reijn, Gerard, "Pensioenbeleggers investeren een miljard in 'vuilste vorm van olie die er is" in de Volkskrant d.d.19 juni 2018 en Santen, Hester van, "Grote pensioenfondsen beleggen in vervuilende winning teerzanden Canada", Nrc.nl d.d. 20 juni 2018 Aegon reacted by stating that it was developing a new policy with regards to the oil and gas sector. In 2019, they decided to discontinue their oil sand investments.
On May 15, 2020, Lard Friese (former CEO of NN Group) succeeded Alex Wynaendts as the CEO of Aegon N.V..
In April 2026, Aegon agreed to sell their UK business to Standard Life in a deal worth £2 billion to shift their focus towards the US market. Standard Life will pay £750 million in cash as well as issuing shares, giving Aegon a 15.3% stake in the group.
Operations Aegon's businesses focus on life insurance and pensions, savings and asset management products. The group is also active in accident and supplemental health insurance and general insurance, and has limited banking activities. Aegon has major operations in the United States (where it is heavily represented through World Financial Group and Transamerica), the Netherlands and the United Kingdom. In addition, the group is present in a number of other countries including Canada, Brazil, Mexico, Hungary, Poland, Romania, Slovakia, Czech Republic, Turkey, Spain, China, Japan, North America and India.
Aegon's world headquarters are in The Hague, Netherlands.
Subsidiaries and divisions Netherlands Aegon Levensverzekering Aegon Schadeverzekering Aegon Bank, knab OPTAS Pensioenen Aegon Spaarkas Unirobe Meeus Groep TKP Pensioen Aegon Hypotheken
United Kingdom Scottish Equitable plc (trading as Aegon UK) Origen Financial Services Positive Solutions Cofunds
North America Aegon USA, LLC Transamerica Corporation World Financial Group (WFG)
Other Aegon España S.A. (Spain) Aegon Magyarország Általános Biztositó Zrt. (Hungary) Aegon TU na Życie S.A. / Aegon Powszechne Towarzystwo Emerytalne S.A. (Poland)
Joint ventures Aegon-CNOOC Life Insurance Company (50% joint venture with CNOOC) (China) Aegon Sony Life Insurance Cy (50% joint venture with Sony) (Japan) Aegon Industrial Fund Management Co. (49%) (China) AMVEST Vastgoed B.V. (Netherlands
Shareholdings N.V. Levensverzekeringsmaatschappij "De Hoop" (33.3%) (Netherlands) Tenet Group Limited (22%) (United Kingdom) Seguros Argos (89%) (Mexico) Aegon Life Insurance Company Ltd (49%) (India) Mongeral Aegon (50%) (Brazil)
Banking services AEGON also operated a direct bank under the brand name "Knab" in the Netherlands. Soon after it was founded in 2012 the bank came under criticism for having the highest cost for any transaction account compared to other Dutch banks.New Bank KNAB very expensive , consumentenbond.nl, 21 september 2012.Saving with Knab:sigaar uit eigen doos, De Telegraaf, 1 oktober 2012. Knab responded by saying that other banks hid many of its costs in other products.Aegon and Alex founder start new bank, Knab, NRC, 20 september 2012.
Sponsorships In 2008, Aegon became the official sponsor of the Dutch football team AFC Ajax, in a deal which lasted for seven years.AEGON new head sponsor AFC Ajax Ajax, 17 October 2007 Ajax's uniform featured the Aegon logo across the chest. Aegon became the third sponsor of Ajax (TDK sponsored Ajax since 1982 until 1991, and ABN AMRO sponsored the team from 1991 till 2008). As of late 2008, Aegon also sponsor the Lawn Tennis Association. A sponsorship package was agreed with the LTA and Aegon's name will appear on all four pillars of British Tennis, including many professional tournaments, one of which is the AEGON Championships, an ATP grasscourt professional tennis tournament in June in London, taking over from Stella Artois, who had sponsored the event since 1979. Since 2004, Transamerica has been the primary sponsor of the American golfer Zach Johnson. AEGON is one of the strategic industry partners with Duisenberg school of finance.
Headquarters office Aegon's headquarters have been in Haarlemmermeer (Schiphol) since 2015.
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