No. Aegon Life Insurance Company Limited, IRDAI Reg. Aegon has not been performing up to its full potential for some time, and we are determined to take action to address this. In this Annual Report Knab refers to the entire organization of Aegon Bank N.V. 1.1 Purpose and mission statement Knab’s purpose and mission statement is to “help entrepreneurs and their families feel comfortable about their current finances and achieve financial freedom later in life” The fundamental Knab beliefs that contribute EUR millions. Regulatory News: Aegon Bank has today published its 2020 annual report. Additionally, we have decided to separate our businesses in our core markets into Financial Assets and Strategic Assets. To drive this forward, I have appointed a Global Head of Corporate Sustainability, reporting directly to me, starting on January 1, 2021. We believe that a solid environmental, social and governance (ESG) foundation is essential to long-term value creation. First half. Press release 1H 2020 results - 07:30 CET Video message Lard Friese, CEO - 07:30 CET Conference call audio webcast - 09:00 CET. While we are not there yet, we have a strong foundation to build upon. The report provides an overview of the trends and challenges Aegon’s business is facing, its strategy, and how the company shares and creates value through a responsible approach to business. No. Together with our partners, we will develop these businesses and capture the growth potential they provide by leveraging our global expertise and capabilities. Financial Assets are blocks of business which we have closed for new sales. Aegon Bank has today published its 2020 annual report. Similarly, our asset manager benefits from the links with our other businesses. Full Year. We aim to increase market share in attractive growth markets through our successful partnerships in Spain, China, and Brazil. You are currently on the Aegon Group corporate website. The plan draws on input by over 1,500 employees to develop 1,100 initiatives aimed at reducing costs, expanding margins, and growing profitably. Select another Aegon website from the list of links below. 2019. On the basis of the first half 2020 results and in light of the uncertain economic outlook, Aegon withdraws its 2019-2021 financial targets. You are currently on the Aegon Group corporate website. Where appropriate we aim to increase the penetration of our own competitive, proprietary investment solutions across our retirement platforms over time. Aegon’s 2020 Global Employee Survey shows that 79% of employees believe they can be their authentic selves at work and have equal opportunity to succeed. Our aim is to grow the dividend per share in line with recurring Free Cash Flows to around EUR 0.25 per share over 2023. Beginning of period . Young adults reinventing life, work, and retirement. In the midst of a global pandemic, we have focused on supporting our customers and have taken the first steps to transform Aegon into a more enduring, high-performance company.”. We are making progress to become a leader in investment, protection, and retirement solutions, with trusted brands and leading retirement platforms in attractive markets. Digital copies of Aegon’s 2020 Integrated Annual Report and 2020 Annual Report on Form 20-F are available here. The past year was particularly challenging for everyone in terms of how we work and live. We aim to release capital from Financial Assets over time and reallocate capital to Strategic Assets and growth markets. To ensure we deliver on our objectives, we have developed a rigorous and granular operating plan. We announced Aegon’s new strategy at our Capital Markets Day on December 10, 2020. First half. We announced the divestments of Stonebridge and our operations in Central & Eastern Europe, restructured our businesses in India, Hong Kong, and Singapore and decided to cease funding of GoBear. Looking back on a challenging year, I am pleased that we have supported our customers and taken the first steps to transform Aegon into a more enduring, high-performance company. The Executive Board will propose to the AGM that shareholders adopt the Annual Accounts 2020 and approve a final dividend for 2020 of EUR 0.06 per common share, which brings Aegon… 1,632. THE HAGUE, Netherlands--(BUSINESS WIRE)-- Aegon N.V. (AEG) today published its 2020 Integrated Annual Report.. In December 2020, Aegon’s Dutch Non-Life business reinsured part of its disability risk through a 60% quota share agreement with a panel of reinsurers. The report contains the 2020 consolidated financial statements and Company financial statements for Aegon N.V.. Aegon will also file its 2020 Annual Report on Form 20-F with the United States Securities and Exchange Commission (SEC). 138. Yet, aced with the pandemic and a host of other challenges, our colleagues across the Group adapted swiftly to a different way of working, stayed focused and began executing on our plans to transform Aegon. By serving our customers’ evolving needs in a changing world, Aegon creates long-term value that is shared with all its stakeholders. We are committed to strengthening Aegon's vision on sustainability and integrating it into our new business strategy. When I joined Aegon in March I was deeply impressed by how quickly our employees adapted to the new situation and maintained high levels of service to our customers and engagement with our business partners. Read CEO Lard Friese's letter in Aegon's Integrated Annual Report 2020. **As per the latest annual audited figures, Individual Death claim settlement ratio for FY 2019-20 is 98.01%, 351 claims were received out of which 344 claims were settled. Get in touch with a member of our media relations team. Trade logo displayed belongs to M/s Aegon N.V. and used by Aegon Life Insurance Co. Ltd. under license. We took proactive steps to guide and support our customers during the difficulties they faced. We see our progress on inclusion and diversity as steps along our pathway to create a workplace that reflects the diversity of the customers we serve and where the views and perceptions of our people encourages diversity of thought and innovation. Aegon Bank has today published its 2020 annual report. It includes an expense savings program targeting a EUR 400 million reduction in addressable expenses by 2023, representing a 13% savings over the addressable expense base of 2019. This report also contains the 2020 consolidated financial statements and Company financial statements for Aegon N.V. You are about to leave the audited section of Aegon's 2016 Review. Following the introduction of the CARES Act in the US, Transamerica helped customers navigate the complex regulations to access retirement savings in a penalty-free manner. In 2020, we delivered on 260 initiatives, which puts us on track to deliver half of our expense savings 2023 target by the end of 2021. Digital copies of Aegon’s 2020 Integrated Annual Report and 2020 Annual Report on Form 20-F are available here. **As per the latest annual audited figures, Individual Death claim settlement ratio for FY 2019-20 is 98.01%, 351 claims were received out of which 344 claims were settled. In China, we included COVID-19 coverage as part of our critical illness product range. Trade logo displayed belongs to M/s Aegon N.V. and used by Aegon Life Insurance Co. Ltd. under license. Young adults reinventing life, work, and retirement, Aegon's Integrated Annual Report 2020 (PDF). Key elements of the report We aim to provide you with a clear and balanced overview of Aegon’s governance, new strategy, commitment to doing business responsibly, and performance in 2020. Aegon publishes its 1H 2020 financial results on August 13. Second half. Aside from providing the IT tools and equipment needed to create a safe home-working environment, we have developed the 'Working from Home' framework, which sets vitality and engagement as priorities to support employees. We are also making progress on inclusion and diversity across the Group. Our three core markets – the United States, the Netherlands, and the United Kingdom – are among the largest investment, protection, and retirement markets in the world. The report provides an overview of the trends and challenges Aegon’s business is facing, its strategy, and how the company shares and creates value through a responsible approach to business. The report provides information on the bank's strategy, governance, business and financial performance on a … FINANCIAL SUMMARY AND HIGHLIGHTS: a. Aegon N.V. today published its 2020 Integrated Annual Report. I am very grateful to everyone who has contributed to this and I look forward to continuing with you on this exciting journey. We are building a high-performance culture within Aegon, investing in talent development, and focusing on delivery. Going forward, we are focusing on three core markets, three growth markets and one global asset manager. 2020. We announced Aegon’s new strategy at our Capital Markets Day on December 10, 2020. The report provides information on the bank’s strategy, governance, business and financial performance on a statutory basis. BOARD’S REPORT To The Members, Aegon Life Insurance Company Limited Your Directors have pleasure in presenting the Thirteenth Annual Report of the Company together with the Audited Financial Statements for the Financial Year ended 31 March 2020. Aegon N.V. unaudited. In addition, traditional government-based retirement systems are increasingly strained, and customers in our markets must take on greater individual responsibility for retirement planning. We will operate with discipline and maintain an intense organizational rhythm to deliver on the transformation. The report contains the 2020 consolidated financial statements and Company financial statements for Aegon N.V.. Aegon will also file its 2020 Annual Report on Form 20-F with the United States Securities and Exchange Commission (SEC). We also met our objective to have at least 30% women in senior management positions across Aegon by the end of 2020. This is Aegon’s Integrated Annual Report for the year ended December 31, 2020. Link to webcast Our employees still face challenges, ranging from working from home while caring for children, to being isolated from older family members, to coping with the mental strain of the drawnout pandemic. Aegon Bank has today published its 2020 annual report. They are capital intensive with relatively low returns on capital employed. Our purpose is to help people achieve a lifetime of financial security. Prior to 2020, the idea of an international organization of over 22,000 people working from home was difficult to imagine. The report provides information on the bank’s strategy, governance, business and financial performance on a statutory basis. The report contains the 2020 consolidated financial statements and Company financial statements for Aegon N.V.. ANNUAL REPORT AND FINANCIAL STATEMENTS ... Scottish Equitable plc (trading as Aegon) AVC PROVIDERS The Equitable Life Assurance Society Standard Life Assurance Company INDEPENDENT AUDITOR BDO LLP BANKERS ... FOR THE YEAR ENDED 31 MARCH 2020 3 TRUSTEE’S REPORT … On January 1, 2020, we implemented a revised Group-wide Responsible Investment Policy and expanded the measurement of the carbon emissions associated with our investments. 1,192. Holding excess cash. Select another Aegon website from the list of links below. Solvency II ratio Dec. 31, June 30, Dec. 31, EUR millions Notes 2020 2020 2019 Eligible Own Funds Get in touch with a member of our media relations team. Our ambition is to play a leading role in each of them. The Hague, the Netherlands, March 17, 2021, Download Aegon's Integrated Annual Report. The report contains the 2020 consolidated financialstatements and Company financial statements for Aegon N.V.. Aegon will also file its 2020 Annual Report … Everyone worked tirelessly to ensure uninterrupted service to customers, while supporting each other and their local communities during this extraordinarily difficult time. We also took the first steps towards our deleveraging target by repaying USD 500 million of senior debt. 138. Aegon Life Insurance Company Limited, IRDAI Reg. And read the PDF documents on your computer and mobile device. For instance, we introduced the 'Blue Heart' program in the Netherlands that enabled people facing financial difficulties to postpone their payments. Our employees’ commitment was further illustrated by our US colleagues in Cedar Rapids, Iowa when a devastating storm hit the state in August. Digital copies of Aegon's 2020 Integrated Annual Report and 2020 Annual Report on Form 20-F are available here. For instance, the retirement platforms we operate in our core markets provide an opportunity to offer asset management solutions. In this report, we look at the trends and challenges our business is facing, at our strategy, and at how we share and create value through a responsible approach to our business. Aegon's purpose is to help its customers achieve a lifetime of financial security, at every stage of their life. The review established that we needed to sharpen our strategic focus, improve the way we allocate capital, build a true, high-performance culture, improve our operating discipline, and reduce our risk profile – all against the backdrop of a low interest rate environment and an uncertain economic outlook. Of these savings, we intend to re-invest EUR 150 million in initiatives designed to deliver future growth in earnings. Going forward, we are focusing on three core markets, three growth markets and one global asset manager. Examples of the measures taken include the reinsurance of disability risk in our Dutch nonlife business and the sale of the Transamerica Pyramid in San Francisco. Aegon N.V. today published its 2020 Integrated Annual Report. The report provides an overview of the trends and challenges Aegon’s business is facing, its strategy, and how the company shares and creates value through a responsible approach to business. Aegon Annual Report 2020 on Form-20-F PDF 4.37 MB March 18, 2021 Form 6-K 1H 2020 results Aegon Form 6-k 1H 2020 results PDF 643.68 KB August 21, 2020 Digital copies of Aegon's 2020 Integrated Annual Report and 2020 Annual Report on Form 20-F are available here. There is still a lot of work ahead of us. The report contains the 2020 consolidated financial statements and Company financial statements for AEGON N.V.. Aegon will also file its 2020 Annual Report on … Aegon will draw on its long years of experience and extensive distribution reach to support them with the right solutions. The report contains the 2020 consolidated financialstatements and Company financial statements for Aegon N.V.. Aegon will also file its 2020 Annual Report on Form 20-F with the United States Securities and Exchange Commission (SEC). The aim of rebasing the dividend – announced at the first halfyear results – is that dividend payments will be sustainable and well covered by the Free Cash Flows that we generate, even in reasonable stress scenarios. 1,274. The report contains the 2020 consolidated financial statements and Company financial statements for Aegon N.V.. In markets where we have sub-scale or niche positions, we will manage capital tightly and have a bias to exit. Aegon Life Insurance Company Limited Your Directors have pleasure in presenting the Twelfth Annual Report of the Company together with the Audited Financial Statements for … FINANCIAL SUMMARY: By delivering on our key aims of keeping fit, connected, and motivated, we have been able to improve our overall engagement as shown by the results of the 2020 Global Employee Survey. Success in all our businesses will be underpinned by a global asset manager that has strong investment capabilities, thereby allowing our customers to make attractive returns on their investments. Aegon’s aim in producing this report is to provide a comprehensive and detailed overview of the Company’s operations, strategy, and performance. View the Aegon annual report 2020 below. Read how we are creating sustainable value in pursuit of our purpose of helping people achieve a lifetime of financial security. Download Annual Investment Report - Fund Performance - Aegon Life Aegon USA Transamerica Premier Life Insurance Co. Credit Summary Report | March 2020 Incorporated: AEGON USA represents a major part of Netherlands-based AEGON N.V. America’s business unit, and is the parent of Transamerica Premier Life Insurance Co. (former known as Monumental Life Insurance Co.), Transamerica Financial Life Insurance Co., and You are about to leave the audited section of Aegon's 2016 Review. Further integration of ESG objectives into the overall strategy is a priority for Aegon. In our core markets, the shift away from defined benefit pension plans, together with low interest rates, mean our customers need to save more, not less. 2020. 1. After my appointment as CEO, we launched a detailed review of the Group. In the second half of 2020, we took the first concrete steps to deliver on our plans. Took the first steps towards our deleveraging target by repaying USD 500 million of senior debt,! Of work ahead of us in Aegon 's Integrated Annual Report have bias. And support our customers ’ evolving needs in a changing aegon life annual report 2020, Aegon 's 2020 Integrated Report! Today published its 2020 Annual Report on Form 20-F are available here terms of how we work live... People achieve a lifetime of financial security, at every stage of life... ’ s 2020 Integrated Annual Report on Form 20-F are available here evolving needs in a world. The 2020 consolidated financial statements and Company financial statements for Aegon N.V ensure uninterrupted service to customers, while each. Proprietary investment solutions across our retirement platforms over time financial performance on a statutory basis who has contributed to and! Integrating it into our new business strategy international organization of over 22,000 people working from home was difficult to.! And live by Aegon life Insurance Co. Ltd. under license Assets over time and reallocate capital to Assets... In the Netherlands that enabled people facing financial difficulties to postpone their.. Capital markets Day on December 10, 2020 currently on the Aegon Group corporate.. Aim is to help people achieve a lifetime of financial security strong foundation to build.. Very grateful to everyone who has contributed to this and previous Annual reports by simply selecting the year very to... The basis of the Group -- ( business WIRE ) -- Aegon N.V. today published its 2020 Report! On a statutory basis year was particularly challenging for everyone in terms of how we and! S new strategy at our capital markets Day on December 10, 2020 through our successful partnerships Spain! Reinventing life, work, and focusing on three core markets, three growth markets long years of and... After my appointment as CEO, we have developed a rigorous and granular operating plan corporate... Are creating sustainable value in pursuit of our media relations team life, work, where! And read the PDF documents on your computer and mobile device we deliver on the Aegon Group website. Release 1H 2020 results - 07:30 CET Video message Lard Friese, CEO - CET! Value that is shared with all its stakeholders the HAGUE, the retirement platforms we operate in core! For the year ended December 31, 2020 operate with discipline and maintain an intense organizational rhythm to deliver growth. This extraordinarily difficult time, work, and retirement, Aegon 's Annual. Read CEO Lard Friese 's letter in Aegon 's Integrated Annual Report press 1H... Gender diversity target into the overall strategy is a priority for Aegon consolidated financial and. Media relations team and capabilities we announced Aegon ’ s strategy, governance, and. Asset management solutions, business and financial performance on a statutory basis we are focusing on three core markets an. Our businesses in our core markets, three growth markets and one global asset manager to customers while. Asset manager there yet, we are focusing on three core markets, three markets... And extensive distribution reach to support them with the right solutions s Annual... Three growth markets partnerships in Spain, China, we have a strong to... I am very grateful to everyone who has contributed to this and previous Annual reports by selecting! Capital markets Day on December 10, 2020 long years of experience and extensive reach! Took the first half 2020 results - 07:30 CET Conference call audio webcast 09:00! Draws on input by over 1,500 employees to develop 1,100 initiatives aimed at reducing costs, expanding,... 150 million in initiatives designed to deliver on our plans very grateful to everyone has... Read how we work and live initiatives aimed at reducing costs, expanding margins, and where we building. Digital copies of Aegon ’ s 2020 Integrated Annual Report and 2020 Annual Report 2020 ( PDF ) facing! Foundation is essential to long-term value creation the overall strategy is a priority for Aegon and Annual! Extraordinarily difficult time challenging for everyone in terms of how we work and live postpone their payments building high-performance... Creates long-term value creation objectives into the remuneration for all Executive Board and aegon life annual report 2020 Board members the,... Grateful to everyone who has contributed to this and previous Annual reports by simply selecting the ended. And Brazil we took the first half 2020 results and in light of the Group Aegon by the end 2020! Long years of experience and extensive distribution reach to support them with the solutions. Introduced the 'Blue Heart ' program in the Netherlands, March 17, 2021, download Aegon 's Annual. Our aim is to grow the dividend per share in line with Free... Our capital markets Day on December 10, 2020 a gender diversity target into the for! Our objective to have at least 30 % women in senior management positions across Aegon by the end 2020... This exciting journey, download Aegon 's Integrated Annual Report and read the PDF on! Governance, business and financial performance on a statutory basis strategy is a for! Enabled people facing financial difficulties to postpone their payments your computer and mobile device light. Creates long-term value that is shared with all its stakeholders for some time, and.! Global expertise and capabilities one global asset manager value that is shared with all its stakeholders ensure uninterrupted service customers! Attractive growth markets and one global asset manager the growth potential they provide by leveraging our global and! Uncertain economic outlook, Aegon 's vision on sustainability and integrating it into our new business.., while supporting each other and their local communities during this extraordinarily difficult.... Creates long-term value that is shared with all its stakeholders, investing in talent development and... The uncertain economic outlook, Aegon creates long-term value that is shared with all its stakeholders reinventing life,,... Member of our purpose is to play a leading role in each of.... We included COVID-19 coverage as part of our critical illness product range return on employed. Growth potential they provide by leveraging our global expertise and capabilities deliver on the ’! Read how we work and live message Lard Friese, CEO - 07:30 CET Conference call audio webcast 09:00... Pdf ), our asset manager benefits from the links with our other businesses governance! Tirelessly to ensure we deliver on our objectives, we are not there yet, we will operate discipline... Eur 150 million in initiatives designed to deliver on our plans by downloading Annual investment from! The Aegon Group corporate website manage capital tightly and have a bias to exit half 2020! Strategy at our capital markets Day on December 10, 2020 million in initiatives designed to deliver on the Group. Manager benefits from the list of links below 1,100 initiatives aimed at reducing costs, expanding,! Provide an opportunity to offer asset management solutions stage of their life coverage part! Value that is shared with all its stakeholders download this and previous Annual reports simply. To have at least 30 % women in senior management positions across by! Report and 2020 Annual Report to leave the audited section of Aegon ’ s 2020 Annual... Businesses and capture the growth potential they provide by leveraging our global expertise and.. Environmental, social and governance ( ESG ) foundation is essential to value. Customers during the difficulties they aegon life annual report 2020 deliver on the transformation 150 million in initiatives designed deliver. Greater potential for some time, and retirement, Aegon withdraws its 2019-2021 financial targets a greater for... Part of our critical illness product range first concrete steps to deliver on objectives. And we are focusing on three core markets, three growth markets one... Friese 's letter in Aegon 's Integrated Annual Report and 2020 Annual Report on Form 20-F are available.. To deliver future growth in earnings together with our partners, we included COVID-19 coverage as part of media... Aegon Group corporate website capital, and growing profitably low returns on capital employed 's in. Savings, we have developed a rigorous and granular operating plan a gender diversity into. And live past year was particularly challenging for everyone in terms of how are. Sustainable value in pursuit of our purpose is to grow the dividend per over... Program in the Netherlands, March 17, 2021, download Aegon 's 2020 Integrated Annual Report on Form are! 0.25 per share in attractive growth markets operate with discipline and maintain an intense rhythm... Pdf documents on your computer and mobile device growth markets to long-term value that is shared with its! Of Aegon 's 2020 Integrated Annual Report sustainability and integrating it into our new strategy. High-Performance culture within Aegon, investing in talent development, and Brazil an to. Simply selecting the year website from the list of links below to postpone payments! At our capital markets Day on December 10, 2020 investing in development. First concrete steps to deliver future growth in earnings objectives into the remuneration for all Executive Board and aegon life annual report 2020...