AEGON Reduces Costs of Unit Linked Insurance in the Netherlands

THE HAGUE, The Netherlands, September 19  /PRNewswire-FirstCall/ -- Based on industry-wide recommendations of the Dutch Ombudsman for Financial Services, AEGON will reduce the costs of its unit linked insurance policies sold in the Netherlands.

In recent years, AEGON has made substantial improvements by reducing costs and premiums to unit linked products. The value of these improvements total EUR 380 million before tax. AEGON will implement further product improvements that have a value of EUR 140 million before tax. This additional amount will be reflected in AEGON's profit and loss statement over the remainder of the life of affected policies. As a result of these measures, costs of unit linked insurance policies sold by AEGON in the Netherlands will be consistent with the recommendations of the Ombudsman and a recent settlement within the industry.

Over 75% of AEGON's unit linked insurance customers have benefitted from previous product improvements. Currently, more than 70% of all customers are charged less than 3% of costs. AEGON's unit linked portfolio consists of 1.3 million policies, of which 50% have a guaranteed minimum return. AEGON has previously provisioned EUR 255 million for these guarantees.

AEGON is one of the world's largest life insurance and pension groups, and a strong provider of investment products. AEGON empowers local business units to identify and provide products and services that meet the evolving needs of customers, using distribution channels best suited to local markets. AEGON takes pride in balancing a local approach with the power of an expanding global operation.

With headquarters in The Hague, the Netherlands, AEGON companies employ approximately 30,000 people worldwide. AEGON's businesses serve millions of customers in over twenty markets throughout the Americas, Europe, and Asia, with major operations in the United States, the Netherlands and the United Kingdom.

Respect, quality, transparency and trust constitute AEGON's core values as the company continually strives to meet the expectations of customers, shareholders, employees and business partners. AEGON is driven to deliver new thinking with the ambition to be the best in the industry.

  Group Corporate Communications & Investor Relations

  Media relations                   Investor relations
  Phone: [phone]         Phone: [phone]
  E-mail:              or [phone] - toll free USA only
  Website: http://www.aegon.com/     E-mail: 

DATASOURCE: AEGON N.V.



CONTACT:  Group Corporate Communications & Investor Relations, Media

relations Investor relations: Phone: [phone], E-mail:

; Investor relations: Phone: [phone] or

[phone] - toll free USA only, E-mail: 

Copyright