Aegon
Company type | Public |
---|---|
| |
Industry | Financial services |
Predecessor | ENNIA |
Founded | 1844 |
Headquarters | , Netherlands |
Area served | Worldwide |
Key people | Lard Friese (CEO) |
Services | Life insurance, asset management, pensions |
Revenue | €25,657 billion[1] (2020) |
€28,197 billion[1] (2020) | |
€55 million[1] (2020) | |
AUM | €293 billion (2022)[2] |
Total assets | €444,868 million[1] (2020) |
Total equity | €444,868 million[1] (2020) |
Members | 30.4 million (2021) |
Number of employees | 22,400 (2021) |
Subsidiaries |
|
Website | www |
Aegon Ltd. (stylized as AEGON) is a
History
Aegon was founded in 1983 from the merger of AGO Holding N.V. (created by the merger of Algemeene Friesche, Groot-Noordhollandsche and Olveh (Onderlinge Verzekeringsmaatschappij Eigen Hulp) in 1968) and Ennia N.V. (formed by the merger of Eerste Nederlandsche and Nillmij (Nederlandsch-Indische Levensverzekering- en Lijfrente-Maatschappij) in 1969).
Aegon acquired
In 1999 it acquired the life assurance business of Guardian Royal Exchange.[4] That year it also bought Transamerica Corporation.[5]
On August 13, 2007, Aegon and
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.[7]
On October 28, 2008, the
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 sand companies and pipelines.[9] Aegon reacted by stating that it was developing a new policy with regards to the oil and gas sector.[10] In 2019, they decided to discontinue their oil sand investments.[11]
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), 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 US Inc.
Netherlands
- Aegon Levensverzekering
- Aegon Schadeverzekering
- Aegon Bank
- OPTAS Pensioenen
- Aegon Spaarkas
- Unirobe Meeus Groep
- TKP Pensioen
- Aegon Hypotheken
United Kingdom
- 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
- N.V. Levensverzekeringsmaatschappij "De Hoop" (33.3%) (Netherlands)
- Tenet Group Limited (22%) (United Kingdom)
- Seguros Argos (89%) (Mexico)
- Aegon Life Insurance Company Ltd[12](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.[13][14] Knab responded by saying that other banks hid many of its costs in other products.[15]
Sponsorships
In 2008, Aegon became the official sponsor of the Dutch football team
Headquarters office
The headquarters office of Aegon is located in The Hague and designed by OTH Architects.[18] 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.[19] 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.[20][21] In 2009 Aegon decided to buy this building from real estate fund Unibail-Rodamco and keep the building as their headquarters.
References
- ^ a b c d e f "Integrated Annual Report 2020" (PDF). p. 106. Retrieved 25 August 2021.
- ^ "AEUR 293 billion of assets under management at end-December 2022". www.aegon.com. 31 December 2022.
- ^ "Overname Aegon door ASR gaat ten koste van personeel, 'complete verrassing' voor vakbonden". Algemeen Dagblad (in Dutch). 2022-10-22. Retrieved 2023-05-18.
- ^ a b Aegon plans further deals after GRE buy Independent, 13 August 1999
- ^ "Transamerica History". www.transamerica.com. Archived from the original on 1 April 2013. Retrieved 20 July 2018.
- ^ Aegon buys Merrill Lynch insurance companies for $1.3bn Marketwatch, 13 August 2007
- ^ Alex Wynaendts to succeed Donald Shepard as Chairman of Aegon PR Newswire, 8 November 2008
- ^ Government reinforces AEGON’s capital position by EUR 3 billion Archived December 3, 2008, at the Wayback Machine De Nederlandische Bank, 28 October 2008
- ^ Reijn, Gerard, "Pensioenbeleggers investeren een miljard in 'vuilste vorm van olie die er is" in de Volkskrant d.d.19 juni 2018 en Santen, Hester van, "Grote pensioenfondsen beleggen in vervuilende winning teerzanden Canada", Nrc.nl d.d. 20 juni 2018
- ^ "'Pensioenbeleggers investeren ruim 1 miljard in vervuilende oliewinning'". 20 June 2018.
- ^ "Aegon stopt met beleggingen in teerzandolie". Het Financieele Dagblad (in Dutch). Retrieved 2023-01-30.
- ^ "Aegon Religare Life Insurance renamed as Aegon Life Insurance - The Economic Times". The Economic Times.
- ^ New Bank KNAB very expensive Archived 2016-05-07 at the Wayback Machine, consumentenbond.nl, 21 september 2012.
- ^ Saving with Knab:sigaar uit eigen doos, De Telegraaf, 1 oktober 2012.
- ^ Aegon and Alex founder start new bank, Knab, NRC, 20 september 2012.
- ^ AEGON new head sponsor AFC Ajax Archived October 19, 2007, at the Wayback Machine Ajax, 17 October 2007
- ^ "DSF Industry Partners". Archived from the original on 2014-06-13.
- ^ "AEGON Hoofdkantoor - Gulden Feniks". www.nrpguldenfeniks.nl. Archived from the original on 20 July 2018. Retrieved 20 July 2018.
- ^ Details of glass walls (Dutch) Archived June 17, 2015, at the Wayback Machine
- ^ "Details of helical staircase in restaurant". Archived from the original on 21 February 2022. Retrieved 20 July 2018.
- ^ "Design trappen - Balustrade - Ontwerp en constructie - EeStairs". www.trappen.info. Retrieved 20 July 2018.
External links
- Official website
- Aegon companies grouped at OpenCorporates