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{{Short description|Dutch financial services company}}
{{Redirect|Knab|other uses|KNAB (disambiguation){{!}}KNAB|and|Knab (surname)}}
{{For|others|Aegon (disambiguation)}}
{{Infobox company
| name = Aegon Ltd.
| logo = Aegon Logo 2023.svg
| logo_size = 220px
| logo_caption = Aegon logo for use outside of The Netherlands since 2024
| image = AegongebouwR0013788.JPG
| image_size = 220px
| image_caption = Headquarters in [[The Hague]], [[Netherlands]]
| trade_name =
| former_name =
| type = [[Public company|Public]]
| traded_as = {{plainlist|
*{{EuronextAmsterdam|AGN|BMG0112X1056|XAMS}}
*[[AEX index|AEX]] component}}
| industry = [[Financial services]]
| predecessor = <!-- or: | predecessors = -->
| founded = {{start date and age|1844}}
| founder = <!-- or: | founders = -->
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| fate =
| successor = <!-- or: | successors = -->
| hq_location_city = [[The Hague]]
| hq_location_country = Netherlands
| area_served = Worldwide
| key_people = Lard Friese ([[Chief executive officer|CEO]])
| services = [[Life insurance]], [[asset management]], [[pension]]s
| revenue = {{increase}} [[Euro|€]]25,657 million<ref name="AR2020">{{cite web |title=Integrated Annual Report 2020 |url=https://www.aegon.com/contentassets/5a2428e87caf4185abb1ff55f476f147/aegon-integrated-annual-report-2020.pdf |access-date=25 August 2021 |page=106}}</ref>
| revenue_year = 2020
| operating_income = {{increase}} €28,197 million<ref name="AR2020"/>
| income_year = 2020
| net_income = {{decrease}} €55 million<ref name="AR2020"/>
| net_income_year = 2020
| aum = {{increase}} €293 billion {{small|(2022)}}<ref>{{cite web|url=https://www.aegon.com/about/what-we-do/our-businesses/aegon-asset-management|title=AEUR 293 billion of assets under management at end-December 2022|website=www.aegon.com|date=31 December 2022}}</ref>
| assets = {{increase}} €444,868 million<ref name="AR2020"/>
| assets_year = 2020
| equity = {{increase}} €444,868 million<ref name="AR2020"/>
| equity_year = 2020
| owner = <!-- or: | owners = -->
| members = 30.4 million
| members_year = 2021
| num_employees = 22,400
| num_employees_year = 2021
| parent =
| divisions =
| subsid = {{ubl
|Aegon Bank N.V.
|Aegon Capital B.V.
|Aegon Hypotheken B.V.
|Aegon Levensverzekering N.V.
|Aegon Schadeverzekering N.V.
|Aegon Spaarkas N.V.
|Nedasco B.V.
|Robidus Groep B.V.
|TKP Pensioen B.V
[[Transamerica Corporation]]
|[[ASR Nederland]] (29.99%)}}
| website = {{URL|https://www.aegon.com}}
| footnotes =
}}
'''Aegon Ltd.''' (stylized as '''AEGON''') is a [[Naamloze vennootschap|Dutch public company]] for [[life insurance]], [[Pension|pensions]] and [[asset management]]. It is headquartered in [[The Hague]], [[Netherlands]] and has 26,000 employees as of July 21, 2020.<ref name="AR2020"/> Aegon is listed on the [[Amsterdam Stock Exchange|Euronext Amsterdam]] and is a constituent of the [[AEX index]]. It operates 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 by [[ASR 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.<ref>{{Cite news |title=Overname Aegon door ASR gaat ten koste van personeel, 'complete verrassing' voor vakbonden |lang=nl |date=2022-10-22 |work=[[Algemeen Dagblad]] |author=<!--staff byline; no author given--> |url=https://www.ad.nl/economie/asr-in-een-klap-bijna-grootste-verzekeraar-door-overname-aegon~a323ad00/ |access-date=2023-05-18 }}</ref> Subsequently, AEGON reincorporated in [[Bermuda]].<ref>[https://www.aegon.com/system/files/file/2023-06/pr-aegons-group-supervision.pdf Aegon’s group supervision to transfer from Dutch Central Bank to Bermuda Monetary Authority]. [https://web.archive.org/web/20230630154626/https://www.aegon.com/system/files/file/2023-06/pr-aegons-group-supervision.pdf Archived] 30 June 2023.</ref>
{{TOC limit|limit=3}}
==History==
[[File:AEGON (logo).svg|Logo used until 2023, still used for Aegon-branded services in the Netherlands|thumb]]
Aegon was founded in 1983 from the merger of AGO Holding N.V. (created by the merger of '''''A'''lgemeene Friesche'', '''''G'''root-Noordhollandsche'' and '''''O'''lveh'' ('''O'''nderlinge Verzekeringsmaatschappij Eigen Hulp) in 1968) and Ennia N.V. (formed by the merger of '''''E'''erste Nederlandsche'' and '''''N'''illmij'' ('''N'''ederlandsch-Indische Levensverzekering- en Lijfrente-Maatschappij) in 1969).
Aegon acquired [[Scottish Equitable]] in 1994.<ref name=equitable>[https://www.independent.co.uk/news/business/aegon-plans-further-deals-after-gre-buy-1112406.html Aegon plans further deals after GRE buy] Independent, 13 August 1999</ref> In 1998 it formed [[Stonebridge 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 of [[Guardian Royal Exchange Assurance|Guardian Royal Exchange]].<ref name=equitable/> That year it also bought [[Transamerica Corporation]].<ref>{{cite web|url=http://www.transamerica.com/company_profile/about_transamerica/transamerica_history.asp|title=Transamerica History|website=www.transamerica.com|access-date=20 July 2018|archive-date=1 April 2013|archive-url=https://web.archive.org/web/20130401015948/http://www.transamerica.com/company_profile/about_transamerica/transamerica_history.asp|url-status=dead}}</ref>
On August 13, 2007, Aegon and [[Merrill 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.<ref>[http://www.marketwatch.com/news/story/aegon-buys-merrill-lynch-life/story.aspx?guid=%7B9B2D3EE2-CEFF-45F7-9E9F-CC0718AE67F6%7D Aegon buys Merrill Lynch insurance companies for $1.3bn] Marketwatch, 13 August 2007</ref>
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.<ref>[http://www.prnewswire.co.uk/cgi/news/release?id=212198 Alex Wynaendts to succeed Donald Shepard as Chairman of Aegon] PR Newswire, 8 November 2008</ref>
On October 28, 2008, the [[Dutch government]] and [[De Nederlandsche Bank]] agreed to give Aegon a €3 billion capital injection to create a capital buffer in exchange for convertible bonds to ease the group through the [[2007–2008 financial crisis]].<ref>[http://www.dnb.nl/en/news-and-publications/news-and-archive/persberichten-2008/dnb190201.jsp Government reinforces AEGON’s capital position by EUR 3 billion] {{webarchive |url=https://web.archive.org/web/20081203131450/http://www.dnb.nl/en/news-and-publications/news-and-archive/persberichten-2008/dnb190201.jsp |date=December 3, 2008 }} De Nederlandische Bank, 28 October 2008</ref> 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|date=July 2012}}
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 by [[Greenpeace]] for its investments in [[Oil sands|oil sand]] companies and pipelines.<ref>Reijn, Gerard, [https://www.volkskrant.nl/nieuws-achtergrond/pensioenbeleggers-investeren-een-miljard-in-vuilste-vorm-van-olie-die-er-is-~bd35d9af "Pensioenbeleggers investeren een miljard in 'vuilste vorm van olie die er is"] in ''de Volkskrant'' d.d.19 juni 2018 en Santen, Hester van, [https://www.nrc.nl/nieuws/2018/06/20/onderzoek-greenpeace-grote-pensioenfondsen-beleggen-in-vervuilende-winning-teerzanden-canada-a1607255 "Grote pensioenfondsen beleggen in vervuilende winning teerzanden Canada"], Nrc.nl d.d. 20 juni 2018</ref> Aegon reacted by stating that it was developing a new policy with regards to the oil and gas sector.<ref>{{Cite web |date=20 June 2018 |title='Pensioenbeleggers investeren ruim 1 miljard in vervuilende oliewinning' |url=https://www.nu.nl/duurzaam/5320943/pensioenbeleggers-investeren-ruim-1-miljard-in-vervuilende-oliewinning.html}}</ref> In 2019, they decided to discontinue their oil sand investments.<ref>{{Cite web |title=Aegon stopt met beleggingen in teerzandolie |url=https://fd.nl/ondernemen/1287923/aegon-stopt-met-beleggingen-in-teerzandolie |access-date=2023-01-30 |website=[[Het Financieele Dagblad]] |language=nl}}</ref>
On 15 May 2020, Lard Friese (former CEO of NN Group) succeeded Alex Wynaendts as the CEO of Aegon N.V..
==Operations==
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 through [[World Financial Group]] and [[Transamerica Corporation|Transamerica]]), the Netherlands and the United Kingdom. In addition, the group is present in a number of other countries including [[Canada]], [[Brazil]], [[Mexico]], [[Hungary]], [[Poland]], [[Romania]], [[Slovakia]], [[Czech Republic]], [[Turkey]], [[Spain]], [[China]], [[Japan]], [[North America]] and [[India]].
Aegon's world headquarters are in [[The Hague]], [[Netherlands]]
===Subsidiaries and divisions===
====North America====
* Aegon USA, LLC
* Transamerica Corporation
* World Financial Group (WFG)
====Netherlands====
* Aegon Levensverzekering
* Aegon Schadeverzekering
* Aegon Bank
* OPTAS Pensioenen
* Aegon Spaarkas
* Unirobe Meeus Groep
* TKP Pensioen
* Aegon Hypotheken
====United Kingdom====
* [[Scottish Equitable|Scottish Equitable plc]] (trading as Aegon UK)
* Origen Financial Services
* Positive Solutions
* Cofunds
====Other====
* Aegon España S.A. (Spain)
* Aegon Magyarország Általános Biztositó Zrt. (Hungary)
* Aegon TU na Życie S.A. / Aegon Powszechne Towarzystwo Emerytalne S.A. (Poland)
===Joint ventures===
* Aegon-CNOOC Life Insurance Company (50% joint venture with CNOOC) (China)
* Aegon Sony Life Insurance Cy (50% joint venture with Sony) (Japan)
* Aegon Industrial Fund Management Co. (49%) (China)
* AMVEST Vastgoed B.V. (Netherlands
===Shareholdings===
* N.V. Levensverzekeringsmaatschappij "De Hoop" (33.3%) (Netherlands)
* Tenet Group Limited (22%) (United Kingdom)
* Seguros Argos (89%) (Mexico)
* [[Aegon Life Insurance Company|Aegon Life Insurance Company Ltd]]<ref>{{cite news|title=Aegon Religare Life Insurance renamed as Aegon Life Insurance - The Economic Times|url=http://economictimes.indiatimes.com/wealth/personal-finance-news/aegon-religare-life-insurance-renamed-as-aegon-life-insurance/articleshow/50078788.cms|work=The Economic Times}}</ref> (49%) (India)
* Mongeral Aegon (50%) (Brazil)
==Banking services==
AEGON also operates a [[direct 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 any [[transaction account]] compared to other Dutch banks.<ref>[http://www.consumentenbond.nl/actueel/nieuws/nieuwsoverzicht-2012/nieuwe-bank-knab-is-knap-duur/ New Bank KNAB very expensive] {{webarchive|url=https://web.archive.org/web/20160507123341/http://www.consumentenbond.nl/actueel/nieuws/nieuwsoverzicht-2012/nieuwe-bank-knab-is-knap-duur/ |date=2016-05-07 }}, consumentenbond.nl, 21 september 2012.</ref><ref>[http://www.telegraaf.nl/overgeld/experts/amanda-bulthuis/20904402/__Sparen_bij_Knab__.html Saving with Knab:sigaar uit eigen doos], ''De Telegraaf'', 1 oktober 2012.</ref> Knab responded by saying that other banks hid many of its costs in other products.<ref>[http://www.nrc.nl/nieuws/2012/09/20/aegon-en-alex-oprichter-starten-nieuwe-bank-knab/ Aegon and Alex founder start new bank, Knab], ''NRC'', 20 september 2012.</ref>
==Sponsorships==
In 2008, Aegon became the official sponsor of the Dutch football team [[AFC Ajax]], in a deal which lasted for seven years.<ref>[http://english.ajax.nl/web/show/id=154814/contentid=64367 AEGON new head sponsor AFC Ajax]  {{webarchive|url=https://web.archive.org/web/20071019015912/http://english.ajax.nl/web/show/id=154814/contentid=64367 |date=October 19, 2007 }} Ajax, 17 October 2007</ref> Ajax's uniform featured the Aegon logo across the chest. Aegon became the third sponsor of Ajax ([[TDK]] sponsored Ajax since 1982 until 1991, and [[ABN AMRO]] sponsored the team from 1991 till 2008). As of late 2008, Aegon also sponsor the [[Lawn 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 the [[AEGON Championships]], an ATP grasscourt professional tennis tournament in June in [[London]], taking over from [[Stella Artois]], who had sponsored the event since 1979. Since 2004, Transamerica has been the primary sponsor of the American golfer [[Zach Johnson]]. AEGON is one of the strategic industry partners with [[Duisenberg school of finance]].<ref>{{cite web|url=http://www.dsf.nl/home/about_us/industry_partners |title=DSF Industry Partners |url-status=dead |archive-url=https://web.archive.org/web/20140613024559/http://www.dsf.nl/home/about_us/industry_partners |archive-date=2014-06-13 }}</ref>
==Headquarters office==
The headquarters office of Aegon is located in [[The Hague]] and designed by OTH Architects.<ref>{{cite web|url=http://www.nrpguldenfeniks.nl/hall-of-fame/jaargangen/2011/renovatie/aegon-hoofdkantoor-1/|title=AEGON Hoofdkantoor - Gulden Feniks|website=www.nrpguldenfeniks.nl|access-date=20 July 2018|archive-url=https://web.archive.org/web/20180720165909/http://www.nrpguldenfeniks.nl/hall-of-fame/jaargangen/2011/renovatie/aegon-hoofdkantoor-1/|archive-date=20 July 2018|url-status=dead}}</ref> 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.<ref>[http://www.si-x.nl/aegon-denhaag.php Details of glass walls (Dutch)] {{webarchive |url=https://web.archive.org/web/20150617124227/http://www.si-x.nl/aegon-denhaag.php |date=June 17, 2015 }}</ref> The restaurant has a main helical staircase with a full glass balustrade manufactured by [[Eestairs]] and did win the prize for the best staircase of the year in 2008.<ref>{{cite web|url=http://www.eestairs.co.uk/uk/805_a_sweeping_feature_staircase_for_aegon.htm|title=Details of helical staircase in restaurant|access-date=20 July 2018|archive-date=21 February 2022|archive-url=https://web.archive.org/web/20220221120929/https://www.eestairs.co.uk/uk/805_a_sweeping_feature_staircase_for_aegon.htm|url-status=dead}}</ref><ref>{{cite web|url=http://www.trappen.info/website/winnaar_16_2008.htm|title=Design trappen - Balustrade - Ontwerp en constructie - EeStairs|website=www.trappen.info|access-date=20 July 2018}}</ref> In 2009 Aegon decided to buy this building from real estate fund Unibail-Rodamco and keep the building as their headquarters.
==References==
{{Reflist}}
==External links==
{{Portal|Banks|Companies}}
{{Commons category|Aegon}}
* {{official website|https://www.aegon.com}}
* {{OpenCorp|Aegon}}
{{Dutch financial services companies}}
{{AEX companies}}
{{Major insurance companies}}
{{Major asset management companies}}
{{Authority control|state=expanded}}
[[Category:Insurance companies of the Netherlands]]
[[Category:Multinational companies headquartered in the Netherlands]]
[[Category:Financial services companies established in 1983]]
[[Category:Dutch brands]]
[[Category:Companies based in The Hague]]
[[Category:Companies listed on Euronext Amsterdam]]
[[Category:Companies in the AEX index]]
[[Category:Dutch companies established in 1983]]