AEGON to reaffirm targets at annual investor conference
06 Dezembro 2011 - 5:00AM
UK Regulatory
TIDMAGN
AEGON to reaffirm targets at annual investor conference in New York
Opening AEGON's annual Analyst and Investor Conference in New York later today,
CEO Alex Wynaendts will reaffirm the company's financial targets, first
announced last February, and detail the steps AEGON is taking to secure a
leading position in each of its chosen markets. Mr. Wynaendts will detail the
actions management is taking to mitigate the impact of lower capital market
returns and AEGON's decision to lower long-term interest rate assumptions.
The main focus of the two-day conference will be to demonstrate the progress of
AEGON's three strategic
business units in the United States; Life & Protection, Individual Savings &
Retirement and Employer Solutions & Pensions. AEGON Americas CEO Mark Mullin
will provide an overview of the company's progress in delivering sustainable
growth and serving the increasing customer demand for retirement security in
AEGON's largest market, the US. Over the past couple of years, AEGON's
operations in the US - which operate under the Transamerica brand - have been
streamlined to focus on the opportunities within its core business of providing
life insurance, pensions and investment products.
On Wednesday, Mr. Wynaendts, Mr. Mullin and the senior management from AEGON's
US business units will host a series of small group meetings, providing
analysts and investors the opportunity to address specific issues relative to
the company's markets and operations.
Mr. Wynaendts stated: "We welcome this opportunity to reaffirm our commitment
to delivering on our 2015 financial targets based on our current assumptions,
despite the strong headwinds of the current economic environment. We are taking
decisive steps to offset the negative impacts of the market turmoil and as
such, remain confident in our ability to deliver the growth and attractive
returns which our targets represent."
The conference presentations will be available on AEGON's corporate website at
4:00 pm EST / 10:00 pm CET at www.aegon.com. The formal presentations will be
webcast live also on the website beginning at
4:30 pm EST / 10:30 pm CET.
Page 1 of 2
Contact information
Media relations:Greg Tucker, +31(0)70 344 8956,gcc-ir@aegon.com
Investor relations: Willem van den Berg,+31 (0)70 344 8305, 877 548 9668 - toll free USA only
ir@aegon.com
www.aegon.com
About AEGON
As an international life insurance, pension and asset management company based
in The Hague, AEGON has businesses in over twenty markets in the Americas,
Europe and Asia. AEGON companies employ approximately 26,000 people and
have some 40 million customers across the globe.
Key figures - EUR Third quarter Full year 2010
2011
Underlying earnings 361 million 1.8 billion
before tax
New life sales 405 million 2.1 billion
Gross deposits 10.5 billion 33 billion
Revenue-generating 404 billion 413 billion
investments (end of
period)
Forward-looking statements
The statements contained in this document 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, estimate, target, intend, may, expect, anticipate,
predict, project, counting on, plan, continue, want, forecast, goal, should,
would, is confident, will, and similar expressions as they relate to our
company. These statements are not guarantees of future performance and involve
risks, uncertainties and assumptions that are difficult to predict. We
undertake no obligation to publicly update or revise any forward-looking
statements. Readers are cautioned not to place undue reliance on these
forward-looking statements, which merely reflect company expectations at the
time of writing. Actual results may differ materially from expectations
conveyed in forward-looking statements due to changes caused by various risks
and uncertainties. Such risks and uncertainties include but are not limited to
the following:
* changes in general economic conditions, particularly in the United States,
the Netherlands and the United Kingdom;
* changes in the performance of financial markets, including emerging
markets, such as with regard to:
- the frequency and severity of defaults by issuers in our fixed income
investment portfolios; and
- the effects of corporate bankruptcies and/or accounting restatements on the
financial markets and the resulting decline in the value of equity and debt
securities we hold;
* the frequency and severity of insured loss events;
* changes affecting mortality, morbidity, persistence and other factors that
may impact the profitability of our insurance products;
* changes affecting interest rate levels and continuing low or rapidly
changing interest rate levels; changes affecting currency exchange rates,
in particular the EUR/USD and EUR/GBP exchange rates;
* changes in the availability of, and costs associated with, liquidity
sources such as bank and capital markets funding, as well as conditions in
the credit markets in general
* increasing levels of competition in the United States, the Netherlands, the
United Kingdom and emerging markets;
* changes in laws and regulations, particularly those affecting our
operations, the products we sell, and the attractiveness of certain
products to our consumers;
* regulatory changes relating to the insurance industry in the jurisdictions
in which we operate;
* acts of God, acts of terrorism, acts of war and pandemics;
* changes in the policies of central banks and/or governments;
* lowering of one or more of our debt ratings issued by recognized rating
organizations and the adverse impact such action may have on our ability to
raise capital and on our liquidity and financial condition;
* lowering of one or more of insurer financial strength ratings of our
insurance subsidiaries and the adverse impact such action may have on the
premium writings, policy retention, profitability of its insurance
subsidiaries and liquidity;
* the effect of the European Union's Solvency II requirements and other
regulations in other jurisdictions affecting the capital we are required to
maintain;
* litigation or regulatory action that could require us to pay significant
damages or change the way we do business;
* customer responsiveness to both new products and distribution channels;
* competitive, legal, regulatory, or tax changes that affect the distribution
cost of or demand for our products;
* the impact of acquisitions and divestitures, restructurings, product
withdrawals and other unusual items, including our ability to integrate
acquisitions and to obtain the anticipated results and synergies from
acquisitions;
* our failure to achieve anticipated levels of earnings or operational
efficiencies as well as other cost saving initiatives.
Further details of potential risks and uncertainties affecting the company are
described in the company's filings with Euronext Amsterdam and the US
Securities and Exchange Commission, including the Annual Report on Form 20-F.
These forward-looking statements speak only as of the date of this document.
Except as required by any applicable law or regulation, the company expressly
disclaims any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in the company's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based.
DECEMBER 6, 2011
Press release
END
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