 Aegon logo for use outside of The Netherlands since 2024 | |
 Headquarters inThe Hague, Netherlands | |
| Company type | Public |
|---|---|
| |
| ISIN | BMG0112X1056  |
| Industry | Financial services |
| Predecessor | ENNIA |
| Founded | 1844; 182 years ago (1844) |
| Headquarters | , Netherlands |
Area served | Worldwide |
Key people | Lard Friese (CEO) |
| Services | Life insurance,asset management,pensions |
| Revenue |  €25,657 million[1] (2020) |
| €28,197 million[1] (2020) | |
 €55 million[1] (2020) | |
| AUM | €293 billion(2022)[2] |
| Total assets | €444,868 million[1] (2020) |
| Total equity | €444,868 million[1] (2020) |
| Members | 30.4 million (2021) |
Number of employees | 22,400 (2021) |
| Subsidiaries |
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| Website | www |
Aegon Ltd. is aDutch public company forlife insurance,pensions andasset management. It is headquartered inThe Hague, Netherlands, and has 26,000 employees as of July 21, 2020.[1] Aegon is listed on theEuronext Amsterdam and is a constituent of theAEX 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 byASR 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.[3] Subsequently, AEGON reincorporated inBermuda.[4]
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Aegon was founded in 1983 from the merger of AGO Holding N.V. (created by the merger ofAlgemeene Friesche,Groot-Noordhollandsche andOlveh (Onderlinge Verzekeringsmaatschappij Eigen Hulp) in 1968) and Ennia N.V. (formed by the merger ofEerste Nederlandsche andNillmij (Nederlandsch-Indische Levensverzekering- en Lijfrente-Maatschappij) in 1969).
Aegon acquiredScottish Equitable in 1994.[5] In 1998, it formedStonebridge 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 ofGuardian Royal Exchange.[5] That year it also boughtTransamerica Corporation.[6]
On August 13, 2007, Aegon andMerrill 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.[7]
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.[8]
On October 28, 2008, theDutch government andDe 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 the2008 financial crisis.[9] 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.[citation needed]
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 byGreenpeace for its investments inoil sand companies and pipelines.[10] Aegon reacted by stating that it was developing a new policy with regards to the oil and gas sector.[11] In 2019, they decided to discontinue their oil sand investments.[12]
On May 15, 2020, Lard Friese (former CEO of NN Group) succeeded Alex Wynaendts as the CEO of Aegon N.V..
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 throughWorld Financial Group andTransamerica), the Netherlands and the United Kingdom. In addition, the group is present in a number of other countries includingCanada,Brazil,Mexico,Hungary,Poland,Romania,Slovakia,Czech Republic,Turkey,Spain,China,Japan,North America andIndia.
Aegon's world headquarters are inThe Hague,Netherlands.
AEGON also operated adirect 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 anytransaction account compared to other Dutch banks.[14][15] Knab responded by saying that other banks hid many of its costs in other products.[16]
In 2008, Aegon became the official sponsor of the Dutch football teamAFC Ajax, in a deal which lasted for seven years.[17] Ajax's uniform featured the Aegon logo across the chest. Aegon became the third sponsor of Ajax (TDK sponsored Ajax since 1982 until 1991, andABN AMRO sponsored the team from 1991 till 2008). As of late 2008, Aegon also sponsor theLawn 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 theAEGON Championships, an ATP grasscourt professional tennis tournament in June inLondon, taking over fromStella Artois, who had sponsored the event since 1979. Since 2004, Transamerica has been the primary sponsor of the American golferZach Johnson. AEGON is one of the strategic industry partners withDuisenberg school of finance.[18]
The headquarters office of Aegon is located inThe Hague and designed by OTH Architects.[19] Initially AEGON wanted to redesign only the conference rooms, but while working on it they decided to improve and redesign the full building. The office spaces, the main hall and the restaurant were redesigned. The new design has a lot of glass like glass walls manufactured by SI-X.[20] The restaurant has a main helical staircase with a full glass balustrade manufactured byEestairs and did win the prize for the best staircase of the year in 2008.[21][22] In 2009, Aegon decided to buy this building from real estate fund Unibail-Rodamco and keep the building as their headquarters. In October 2023, Aegon has announced its intention to move the headquarters to WTC Amsterdam.
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