Throughout the 80’s and 90’s, AEGON Insurance acquired and merged with several companies in Greece, USA, Spain, The Netherlands, UK, Belgium,Germany. AEGON also withdrew from many organizations and entered into partnership with some companies in these countries. There were launch of new branches and new companies in Taiwan, Hungary, Mexico, China, Italy, Philippines. More recently in 2005, AEGON has started insurance selling activities in Czech Republic and Singapore.
The mission of AEGON Insusrance is to be the best in the industry. AEGON has firm core values and clear strategy and objectives.
They focus on life and insurance products. They have a decentralized structure, empowering their local business units to provide products and services to meet the customer’s needs using distribution channels best suited for local markets. They have the motto “Local Knowledge. Global Power.
The businesses of AEGON or the broad areas of operation of the company are listed as follows:
General Account
- Traditional Life
- Fixed Annuities
- General Insurance—GICs and funding agreements
Account of policyholders
- Life for account of policyholders
- Variable annuities
- Fee business
Other activities
- Accident and health insurance
- General insurance
- Banking
- AEGON pension network
Key Statistics
- Total assets held by AEGON in 2005 amounts to $376,099.8 millions.
- Aegon has made profits of $3,394.7 millions in 2005. The change from 2004 is by 64.1%.
- Operating earnings before tax of the AEGON Group increased by 21% in 2005 to EUR 2,147 million. Revenues earned in 2005 amounts to $37,694.4 millions. There is a 6.3% change in revenues from 2004.
- The countries of operation of AEGON are:
- USA
- The Netherlands
- UK
- Canada
- China
- Czech Republic
- France
- Hungary
- Poland
- Slovakia
- Spain
- Taiwan
- Italy
- Germany
- S. Korea
- Japan
- Brazil
- Mexico
- Australia
- Thailand
5. AEGON has more than 27,000 employees worldwide.
Organizational Structure
AEGON follows a decentralized organization structure globally. The decentralized international hierarchy is presented as follows:- Supervisory Board at top of the organization.
- Executive Board
- Group Staff
- Under them comes the operating units in 6 main markets, namely:
- AEGON USA(Canada)
- AEGON The Netherlands(Belgium)
- AEGON UK(Luxembourg and Ireland)
- AEGON Hungary (Slovakia, Czech Republic and Poland)
- AEGON Spain
- AEGON Asia (Taiwan, China and India)
International Ranking
- AEGON is ranked 149 in the world in Fortune Global 500 listings 2006.
- AEGON ranks 98 in the world according to the global ranking of Forbes Magazine.
Merger and acquisition
Throughout the life span of AEGON there have been several instances of mergers and acquisitions. The more recent ones are listed below:
- Acquisition of service provider TKP Pensioen (The Netherlands) in 2003. Also there was investment in Aurora Financial Group (UK). There was acquisition of 45% stake in Unirobe Groep (The Netherlands).
- In 2004, La Mondiale and AEGON strengthened their partnership. There was national cooperation agreement with Agricultural Bank of China and start of strategic partnership with Caja de Ahorros del Mediterráneo (Spain).
- In 2005, there has been start of life insurance activities in the Czech republic and Singapore has granted AEGON subsidiary license to sell life insurance.
AEGON headquarters address:
The headquarters of the AEGON Group are located in The Hague, the Netherlands.AEGON N.V.
Visiting address: AEGONplein 50
2591 TV Den Haag
The Netherlands
Postal address: P.O. Box 202
2501 CE Den Haag
The Netherlands
Telephone: + 31 70 344 3210
