Q12009 financial supplement
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(2) Financial supplement. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Page 2.
(3) HIGHLIGHTS Summary financial and market highlights Earnings overview – underlying Earnings overview – operating Investments general account. p p p p. 5 6 7 8. AEGON N.V. Group reporting structure Capital structure Condensed consolidated balance sheet Condensed consolidated income statement Return on capital and return on equity – net underlying earnings Return on capital and return on equity – net operating earnings. p p p p p p. 10 11 12 13 14 15. AEGON AMERICAS Reporting structure Earnings – in USD Earnings – in EUR Investments general account Investments Life and protection Life Accident and health Individual savings and retirement products Fixed annuities Variable annuities Retail mutual funds Pensions and asset management Institutional products Institutional guaranteed products BOLI/COLI Life reinsurance Selected information on international business Selected information on middle market business Over / (under) performance of fair value items. p 16 p 17 p 18 p 19 p 20 p 21 p 22 p 23 p 24 p 25 p 26 p 27 p 28 p 29 p 30 p 31 p 32 p 33 p 34 p 35. Financial supplement. AEGON THE NETHERLANDS Reporting structure Earnings Investments general account Production Invested assets and expenses Supplementary information Over / (under) performance of fair value items. p 36 p 37 p 38 p 39 p 40 p 41 p 42. AEGON UNITED KINGDOM Reporting structure Earnings – in GBP Earnings – in EUR Investments general account Production and margins Cash flows Over / (under) performance of fair value items. p 44 p 45 p 46 p 47 p 48 p 49 p 50. OTHER COUNTRIES Reporting structure Earnings Investments general account Over / (under) performance of fair value items. p 52 p 53 p 54 p 55. OTHER CORPORATE INFORMATION Public ratings Glossary Disclaimers Corporate and shareholder information. p 56 p 57 p 58 p 59. Page 3. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. TABLE OF CONTENTS.
(4) Financial supplement. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Page 4.
(5) AEGON N.V. SUMMARY FINANCIAL AND MARKET HIGHLIGHTS. UNAUDITED amounts in millions except per share data EUR. EUR First Quarter. 2008 Second Quarter. Third Quarter. Fourth Quarter. First Quarter. (181) (770) (951) 136 (501) 38 (1,278) 96 (1,182) (1,737). (22) (197) (219) 173 (386) (23) (455) 282 (173) (226). (69) (623) (172). (14) (163) (18). 2009 Second Quarter. Third Quarter. Fourth Quarter. Net underlying earnings Net operating earnings Net underlying earnings in USD Shares Shares outstanding Weighted average shares outstanding (year to date) Per share data Net income in EUR Net income fully diluted in EUR Net income in USD Net income fully diluted in USD Net underlying earnings in EUR Net underlying earnings fully diluted in EUR Net underlying earnings in USD Net underlying earnings fully diluted in USD Dividend in EUR Trading statistics (Amsterdam Stock Exchange) High Low Close Volume (average daily) Number of employees. Financial supplement. 658 (441) 217 86 (32) (54) 217 (64) 153 229. 596 48 644 (212) (98) 9 343 (67) 276 428. 500 (456) 44 25 (407) (5) (343) 14 (329) (508). 503 175 754. 437 479 686. 363 38 541. 1,492 1,499. 1,510 1,499. 1,516 1,504. 1,516 1,507. 1,516 1,516. 0.07 0.07 0.10 0.10 0.30 0.30 0.45 0.45 ----. 0.08 0.08 0.13 0.13 0.19 0.19 0.30 0.30 0.30. (0.25) (0.25) (0.38) (0.38) 0.21 0.21 0.31 0.31 ----. (0.82) (0.82) (1.20) (1.20) (0.08) (0.08) (0.15) (0.15) ----. (0.15) (0.15) (0.20) (0.20) (0.04) (0.04) (0.05) (0.05) ----. 12.20 8.44 9.32 14,673,345. 10.77 8.11 8.41 12,460,231. 8.78 5.33 6.20 15,564,281. 6.62 2.68 4.53 16,467,170. 5.55 1.83 2.92 13,969,077. 30,734. 31,558. 31,888. 31,425. 31,156. Page 5. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Earnings summary Underlying earnings before tax Over / (under) performance of fair value items Operating earnings before tax Gains/(losses) on investments Impairment charges Other income/(charges) Income before tax Income tax Net income Net income in USD.
(6) AEGON N.V. EARNINGS OVERVIEW - UNDERLYING. UNAUDITED amounts in millions EUR First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. Underlying earnings before tax by line of business Life and protection Individual savings and retirement products Pensions and asset management Institutional products Life reinsurance Distribution General insurance Interest charges and other Share in net results of associates Underlying earnings before tax. 252 116 121 108 43 9 17 (17) 9 658. 252 115 129 99 0 8 20 (38) 11 596. 286 56 79 98 8 3 11 (40) (1) 500. 121 (433) 179 100 (114) (19) (3) (17) 5 (181). 911 (146) 508 405 (63) 1 45 (112) 24 1,573. 239 (313) 42 89 (23) 6 (1) (63) 2 (22). Underlying earnings before tax geographically Americas The Netherlands United Kingdom Other countries Holding and other activities Eliminations Underlying earnings before tax. 478 113 45 39 (23) 6 658. 441 116 48 29 (40) 2 596. 388 74 35 42 (45) 6 500. (234) 75 13 (17) (22) 4 (181). 1,073 378 141 93 (130) 18 1,573. (68) 72 7 30 (66) 3 (22). Net underlying earnings geographically Americas The Netherlands United Kingdom Other countries Holding and other activities Eliminations Net underlying earnings. 348 92 40 27 (10) 6 503. 321 92 39 17 (34) 2 437. 266 62 33 30 (34) 6 363. (155) 80 19 (10) (7) 4 (69). 780 326 131 64 (85) 18 1,234. (44) 55 11 9 (48) 3 (14). Financial supplement. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 6. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. EUR.
(7) AEGON N.V. EARNINGS OVERVIEW - OPERATING. UNAUDITED amounts in millions EUR First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. Operating earnings before tax by line of business Life and protection Individual savings and retirement products Pensions and asset management Institutional products Life reinsurance Distribution General insurance Interest charges and other Share in net results of associates Operating earnings before tax. 213 (58) (19) (55) 31 9 17 70 9 217. 264 139 97 155 3 8 20 (53) 11 644. 214 (101) (51) (38) (76) 3 11 83 (1) 44. 104 (902) 224 (54) (319) (19) (3) 13 5 (951). 795 (922) 251 8 (361) 1 45 113 24 (46). 179 (306) (135) 13 59 6 (1) (36) 2 (219). Operating earnings before tax geographically Americas The Netherlands United Kingdom Other countries Holding and other activities Eliminations Operating earnings before tax. 104 (41) 45 39 64 6 217. 541 79 48 29 (55) 2 644. (65) (52) 35 42 78 6 44. (1,167) 227 (6) (17) 8 4 (951). (587) 213 122 93 95 18 (46). (100) (118) 4 31 (39) 3 (219). Net operating earnings geographically Americas The Netherlands United Kingdom Other countries Holding and other activities Eliminations Net operating earnings. 74 (22) 40 27 50 6 175. 401 64 39 17 (44) 2 479. (51) (32) 33 30 52 6 38. (759) 129 0 (10) 13 4 (623). (335) 139 112 64 71 18 69. (69) (87) 9 10 (29) 3 (163). Net income geographically Americas The Netherlands United Kingdom Other countries Holding and other activities Eliminations Net income. (26) 19 41 28 85 6 153. 297 5 32 20 (80) 2 276. (378) (54) 18 9 70 6 (329). (1,272) 124 (11) (66) 38 5 (1,182). (1,379) 94 80 (9) 113 19 (1,082). (133) (41) 6 9 (17) 3 (173). Financial supplement. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 7. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. EUR.
(8) AEGON N.V. INVESTMENTS GENERAL ACCOUNT. UNAUDITED amounts in millions EUR United Kingdom. March 31, 2009 Other Holdings and Countries other activities. Eliminations. AEGON N.V.. Cash / Treasuries / Agencies IG corporates High yield corporate Corporate other Emerging markets debt Commercial MBS Residential MBS Non-housing related ABS Housing-related ABS CDOs Subtotal. 17,791 32,766 2,777 88 1,284 4,617 3,645 4,642 1,444 649 69,703. 12,372 3,163 315 34 295 45 1,072 749 0 151 18,196. 273 4,159 98 0 50 311 13 401 119 0 5,424. 3,013 1,751 20 79 0 0 216 0 58 11 5,148. 21 40 7 0 0 0 0 0 0 0 68. 0 0 0 0 0 0 0 0 0 0 0. 33,470 41,879 3,217 201 1,629 4,973 4,946 5,792 1,621 811 98,539. Residential mortgages loans Commercial mortgages loans Total mortgages. 78 11,922 12,000. 8,712 86 8,798. 0 0 0. 250 0 250. 0 0 0. 0 0 0. 9,040 12,008 21,048. 207 923 1,696 2,826. 10 644 248 902. 0 106 0 106. 28 180 25 233. 0 0 0 0. 0 (2) 0 (2). 245 1,851 1,969 4,065. Real estate Other Investments general account (excluding policy loans). 1,119 818 86,466. 2,044 2,895 32,835. 0 11 5,541. 0 62 5,693. 0 0 68. 0 0 (2). 3,163 3,786 130,601. Policy loans Investments general account. 2,152 88,618. 40 32,875. 0 5,541. 337 6,030. 0 68. 0 (2). 2,529 133,130. Convertible bonds & preferred stock Common equity & bond funds Private equity & hedge funds Total equity like. AEGON N.V. INVESTMENTS GENERAL ACCOUNT amounts in millions EUR March 31, 2009 AAA Structered assets by rating Commercial MBS Residential MBS Non-housing related ABS Housing-related ABS CDOs Total Credits by rating IG corporates High yield corporate Emerging markets debt Corporate other Total Cash / Treasuries / Agencies Total. Financial supplement. AA. A. BBB. <BBB. 4,327 4,384 3,144 874 467 13,196. 431 16 418 297 224 1,386. 148 198 1,065 132 11 1,554. 47 6 1,006 224 51 1,334. 20 342 159 94 58 673. 746 0 0 0 746. 4,217 12 20 0 4,249. 19,949 3 331 15 20,298. 16,957 11 776 16 17,760. 10 3,158 499 108 3,775. NR. Total 4,973 4,946 5,792 1,621 811 18,143. 0 33 3 62 98. 41,879 3,217 1,629 201 46,926 33,470 98,539. Page 8. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Americas. The Netherlands.
(9) Financial supplement. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Page 9.
(10) AEGON N.V. Group reporting structure. Financial supplement. THE NETHERLANDS. UNITED KINGDOM. OTHER COUNTRIES. HOLDING AND OTHER. Page 10. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. AMERICAS.
(11) AEGON N.V. CAPITAL STRUCTURE. UNAUDITED amounts in millions EUR. Year-to-date. First Quarter. 2008 Second Quarter. Third Quarter. Fourth Quarter. First Quarter. Shareholders' equity January 1 Net income Dividend paid Movements in foreign currency translation reserve Repurchased and sold own shares Movements in revaluation reserves Coupons on perpetuals (net of tax) Other changes Shareholders' equity end of period. 15,151 153 0 (1,066) (73) (1,510) (46) (12) 12,597. 15,151 429 (402) (948) (75) (2,443) (91) 0 11,621. 15,151 100 (660) 129 (217) (4,942) (140) (9) 9,412. 15,151 (1,082) (660) (170) (217) (6,651) (189) (127) 6,055. 6,055 (173) 0 455 4 (1,373) (48) (21) 4,899. Revaluation reserves Available-for-sale shares Available-for-sale bonds Available-for-sale other Total available-for-sale Real estate held for own use Cash flow hedging reserve Total balance of revaluation reserves, net of tax. 198 (2,422) 30 (2,194) 33 134 (2,027). 208 (3,329) 9 (3,112) 33 120 (2,959). 104 (5,908) (1) (5,805) 36 311 (5,458). 54 (7,910) (8) (7,864) 41 656 (7,167). (9) (9,342) (36) (9,387) 42 805 (8,540). 0 4,801 15 137 34 1,313. 0 4,805 16 124 34 887. 0 4,693 18 139 34 1,395. 3,000 4,699 6 161 41 69. 3,000 4,700 7 154 8 328. 18,897 20,924. 17,487 20,446. 15,691 21,149. 14,031 21,198. 13,096 21,636. Capital Convertible core capital securities Perpetual capital securities and other equity instruments Minority interest Trust pass-through securities Subordinated borrowings Senior debt related to insurance activities Capitalization Total capitalization including revaluation reserve Total capitalization excluding revaluation reserve Debt to capitalization ratios Total debt to capital excluding revaluation reserve*. 7%. 5%. 7%. 1%. 2009 Second Quarter. Third Quarter. Fourth Quarter. 2%. * As of Q1 2008 capital securities that are denominated in foreign currencies are, for purposes of calculating the capital base ratio, revalued to the period-end exchange rate.. Financial supplement. Page 11. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. EUR.
(12) AEGON N.V. CONDENSED CONSOLIDATED BALANCE SHEET. UNAUDITED amounts in millions EUR First Quarter. Investments general account Investments for account of policyholders Investments in associates Deferred expenses and rebates Other assets and receivables Cash and cash equivalents Total assets Shareholders' equity Convertible capital securities Other equity instruments Minority interest Group equity Insurance contracts general account Insurance contracts for the account of policyholders Investment contracts general account Investment contracts for the account of policyholders Other liabilities Total equity and liabilities. 2008 Second Quarter. Third Quarter. Fourth Quarter. First Quarter. 125,359 126,273 470 11,082 18,948 10,383 292,515. 126,613 125,460 510 11,384 19,516 12,413 295,896. 131,738 121,346 497 12,777 21,435 9,030 296,823. 130,481 105,400 595 12,794 27,766 10,223 287,259. 133,130 103,312 584 13,104 26,618 6,274 283,022. 12,597 0 4,801 15 17,413. 11,621 0 4,805 16 16,442. 9,412 0 4,693 18 14,123. 6,055 3,000 4,699 6 13,760. 4,899 3,000 4,700 7 12,606. 84,394 70,543 33,636 55,875 30,654 292,515. 86,011 68,854 33,720 56,713 34,156 295,896. 93,070 67,650 36,838 54,206 30,936 296,823. 97,377 60,808 36,231 45,614 33,469 287,259. 101,575 59,635 35,390 44,386 29,430 283,022. 2009 Second Quarter. Third Quarter. Fourth Quarter. REVENUE GENERATING INVESTMENTS amounts in millions EUR. EUR First Quarter. Investments general account Investments for account of policyholders Off balance sheet investments third parties Total revenue generating investments. 125,359 126,273 88,201 339,833. 2008 Second Quarter 126,613 125,460 92,127 344,200. Third Quarter 131,738 121,346 97,672 350,756. Fourth Quarter. First Quarter. 130,481 105,400 95,963 331,844. 2009 Second Quarter. Third Quarter. Fourth. 133,130 103,312 97,838 334,280. CAPITAL BASE amounts in millions EUR. Group equity Trust pass-through securtities Subordinated borrowings Senior debt related to insurance activities Total capital base. Financial supplement. EUR First Quarter. 2008 Second Quarter. Third Quarter. Fourth Quarter. First Quarter. 17,413 137 34 1,313 18,897. 16,442 124 34 887 17,487. 14,123 139 34 1,395 15,691. 13,760 161 41 69 14,031. 12,606 154 8 328 13,096. 2009 Second Quarter. Third Quarter. Fourth Quarter. Page 12. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. EUR.
(13) AEGON N.V. CONDENSED CONSOLIDATED INCOME STATEMENT. UNAUDITED amounts in millions. Premium income Investment income Fee and commission income Other revenues Total revenues Income from reinsurance ceded Net gains and losses on investments Other income Total income. EUR First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. 6,315 2,422 434 1 9,172 335 (8,900) 0 607. 5,592 2,436 424 2 8,454 414 (2,308) 0 6,560. 5,274 2,463 408 1 8,146 401 (9,358) 5 (806). 5,228 2,644 437 1 8,310 483 (7,629) 1 1,165. 22,409 9,965 1,703 5 34,082 1,633 (28,195) 6 7,526. 5,990 2,250 400 1 8,641 461 (7,254) 2 1,850. 6,016 101 111 0 6,228. (1,074) 444 164 2 (464). 1,758 534 156 0 2,448. 6,970 1,113 526 2 8,611. 1,756 430 120 1 2,307. 5 (1,278) 96 (1,182). 24 (1,061) (21) (1,082). Benefits and expenses Impairment charges Interest charges and related fees Other charges Total charges. 270 34 95 0 399. Share in net results of associates Income before tax Income tax Net income. 9 217 (64) 153. Financial supplement. 11 343 (67) 276. (1) (343) 14 (329). Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. 2 (455) 282 (173). Page 13. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. EUR.
(14) AEGON N.V. RETURN ON CAPITAL - NET UNDERLYING EARNINGS. UNAUDITED amounts in millions. Americas (USD) Net underlying earnings Average capital in units Average capital in units, adjusted for revaluation reserves Return on capital Net underlying earnings / average capital in units excluding revaluation reserve Net underlying earnings / average capital in units. The Netherlands (EUR). (57) 10,423 18,735. 55 2,652 3,160. -1.2% -2.2%. 7.0% 8.3%. United Kingdom (GBP) 10 1,195 2,234. 1.7% 3.3%. March 31, 2009 Central Eastern Europe (EUR) 20 593 656. 12.3% 13.6%. Asia (EUR) (21) 376 416. -20.5% -22.7%. Spain and France (EUR) 10 1,057 1,086. 3.7% 3.8%. Ireland (v.a. Europe) (EUR). Weighted Average (EUR). 0 12 12. 6.0% 6.0%. 0.6% 0.9%. AEGON N.V. RETURN ON EQUITY - NET UNDERLYING EARNINGS amounts in millions March 31, 2009. (EUR) Net underlying earnings before leverage costs 1 Cost of leverage after tax Net underlying earnings after leverage allocation. (14) (78) (92). Average shareholders' equity Average shareholders' equity adjusted for revaluation reserve. 3,363 11,216. Return on equity Net underlying earnings / average shareholders' equity excluding revaluation reserve Net underlying earnings / average shareholders' equity. -3.3% -11.0%. 1. Cost of leverage after tax includes interest charges, coupons on perpetual capital securities and preferred dividend.. Financial supplement. Page 14. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Total.
(15) AEGON N.V. RETURN ON CAPITAL - NET OPERATING EARNINGS. UNAUDITED amounts in millions. Net operating earnings Average capital in units Average capital in units, adjusted for revaluation reserves Return on capital Net operating earnings / average capital in units excluding revaluation reserve Net operating earnings / average capital in units. Americas (USD). The Netherlands (EUR). (90) 10,423 18,735. (87) 2,652 3,160. -1.9% -3.5%. -11.0% -13.1%. United Kingdom (GBP) 8 1,195 2,234. 1.4% 2.7%. March 31, 2009 Central Eastern Europe (EUR) 20 593 656. 12.3% 13.6%. Asia (EUR) (21) 376 416. -20.5% -22.7%. Spain and France (EUR) 10 1,057 1,086. 3.7% 3.8%. Ireland (v.a. Europe) (EUR). Weighted Average (EUR). 1 12 12. 23.4% 23.4%. -2.6% -4.0%. AEGON N.V. RETURN ON EQUITY - NET OPERATING EARNINGS amounts in millions March 31, 2009. (EUR) Net operating earnings before leverage costs 1 Cost of leverage after tax Net operating earnings after leverage allocation. (163) (78) (241). Average shareholders' equity Average shareholders' equity adjusted for revaluation reserve. 3,363 11,216. Return on equity Net operating earnings / average shareholders' equity excluding revaluation reserve Net operating earnings / average shareholders' equity. -8.6% -28.8%. 1. Cost of leverage after tax includes interest charges, coupons on perpetual capital securities and preferred dividend.. Financial supplement. Page 15. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Total.
(16) AEGON AMERICAS Reporting structure. INDIVIDUAL SAVINGS & RETIREMENT PRODUCTS. LIFE. FIXED ANNUITIES. INSTITUTIONAL GUARANTEED PRODUCTS. ACCIDENT & HEALTH. VARIABLE ANNUITIES. BOLI / COLI. PENSIONS & ASSET MANAGEMENT. INSTITUTIONAL PRODUCTS. LIFE REINSURANCE. RETAIL MUTUAL FUNDS. Financial supplement. Page 16. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. LIFE & PROTECTION.
(17) AEGON AMERICAS EARNINGS. UNAUDITED amounts in millions USD. USD. First quarter. Second quarter. 2008 Third quarter. Fourth quarter. Full year. First quarter. Second quarter. 2009 Third quarter. Fourth quarter. Full year. Underlying earnings before tax by line of business Life and protection Life Accident and health. 159 115. 214 94. 237 86. 159 68. 769 363. 153 68. Individual savings and retirement products Fixed annuities Variable annuities Retail mutual funds. 95 70 4. 105 68 3. 82 (16) 1. 86 (709) 0. 368 (587) 8. 86 (480) (9). Pensions and asset management. 45. 50. 32. 23. 150. 10. Institutional products Institutional guaranteed products BOLI / COLI. 141 21. 141 14. 135 11. 127 4. 544 50. 105 12. (93). (30). 65. 1. 11. (170). Share in net results of associates Underlying earnings before tax. Life reinsurance. 1 716. 1 691. (1) 578. 0 (412). 1 1,573. (3) (88). Net underlying earnings. 522. 502. 398. (279). 1,143. (57). 135 109. 232 98. 156 71. 70 43. 8 (103) 4. 133 69 3. (99) (70) 1. Pensions and asset management. 38. 54. 10. (11). 91. (3). Institutional products Institutional guaranteed products BOLI / COLI. (99) 17. 218 17. (58) 0. (76) (8). (15) 26. 8 10. Life and protection Life Accident and health Individual savings and retirement products Fixed annuities Variable annuities Retail mutual funds. Life reinsurance. (110) (1,185) 0. 593 321 (68) (1,289) 8. 120 56 41 (426) (9). 46. 7. (117). (465). (529). 76. Share in net results of associates Operating earnings before tax. 1 156. 1 832. (1) (107). 0 (1,742). 1 (861). (3) (130). Net operating earnings. 111. 616. (82). (1,136). (491). (90). Life insurance gross premiums Accident and health insurance Total gross premiums. 2,209 633 2,842. 2,222 639 2,861. 2,171 626 2,797. 2,102 613 2,715. 8,704 2,511 11,215. 1,953 590 2,543. Investment income Fee and commission income Other revenues Total revenues. 1,802 363 1 5,008. 1,695 359 2 4,917. 1,691 330 0 4,818. 1,668 323 0 4,706. 6,856 1,375 3 19,449. 1,486 289 0 4,318. Revenues. Financial supplement. Page 17. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Operating earnings before tax by line of business.
(18) AEGON AMERICAS EARNINGS. UNAUDITED amounts in millions EUR. EUR. First quarter. Second quarter. 2008 Third quarter. Fourth quarter. Full year. First quarter. Second quarter. 2009 Third quarter. Fourth quarter. Full year. Underlying earnings before tax by line of business Life and protection Life Accident and health. 106 77. 138 60. Individual savings and retirement products Fixed annuities Variable annuities Retail mutual funds. 63 47 3. 67 43 2. 157 57. 123 53. 524 247. 117 52. 56 (9) 0. 65 (481) 0. 251 (400) 5. 66 (368) (7). Pensions and asset management. 30. 32. 21. 20. 103. 8. Institutional products Institutional guaranteed products BOLI / COLI. 94 14. 90 9. 90 8. 97 3. 371 34. 80 9. Life reinsurance. (63). (23). 43. 0. 8. (114). Share in net results of associates Underlying earnings before tax. 1 478. 0 441. 0 388. 0 (234). 1 1,073. (2) (68). Net underlying earnings. 348. 321. 266. (155). 780. (44). 90 73. 150 62. 104 48. 60 36. 404 219. 92 43. 5 (69) 3. 87 47 2. (64) (46) 0. (74) (811) 0. (46) (879) 5. 32 (328) (7). Pensions and asset management. 25. 35. 7. (5). 62. (2). Institutional products Institutional guaranteed products BOLI / COLI. (66) 11. 144 11. (38) 0. (50) (4). (10) 18. 6 7. 31. 3. (76). (319). (361). 59. 1 104. 0 541. 0 (65). 0 (1,167). 1 (587). (2) (100). 74. 401. (51). (759). (335). (69). Life insurance gross premiums Accident and health insurance Total gross premiums. 1,474 422 1,896. 1,420 409 1,829. 1,451 417 1,868. 1,592 465 2,057. 5,937 1,713 7,650. 1,499 453 1,952. Investment income Fee and commission income Other revenues Total revenues. 1,202 242 1 3,341. 1,082 230 1 3,142. 1,130 220 0 3,218. 1,263 246 0 3,566. 4,677 938 2 13,267. 1,142 222 0 3,316. Life and protection Life Accident and health Individual savings and retirement products Fixed annuities Variable annuities Retail mutual funds. Life reinsurance Share in net results of associates Operating earnings before tax Net operating earnings Revenues. Financial supplement. Page 18. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Operating earnings before tax by line of business.
(19) AEGON AMERICAS INVESTMENTS GENERAL ACCOUNT. UNAUDITED amounts in millions USD March 31, 2009. Cash / Treasuries / Agencies IG corporates High yield corporate Corporate other Emerging markets debt Commercial MBS Residential MBS Non-housing related ABS Housing-related ABS CDOs Subtotal. 23,677 43,605 3,697 117 1,708 6,144 4,849 6,179 1,922 863 92,761. Residential mortgages loans Commercial mortgages loans Total mortgages. 103 15,866 15,969 276 1,228 2,257 3,761. Real estate Other Investments general account (excluding policy loans). 1,490 1,089 115,070. Policy loans Investments general account. 2,864 117,934. AEGON AMERICAS INVESTMENTS GENERAL ACCOUNT amounts in millions USD March 31, 2009 AAA Structered assets by rating Commercial MBS Residential MBS Non-housing related ABS Housing-related ABS CDOs Total Credits by rating IG corporates High yield corporate Emerging markets debt Corporate other Total Cash / Treasuries / Agencies Total. Financial supplement. AA. A. BBB. <BBB. 5,531 4,309 3,304 1,116 621 14,881. 401 17 461 249 145 1,273. 126 61 1,020 134 5 1,346. 59 8 1,208 298 37 1,610. 27 454 186 125 55 847. 487 0 0 0 487. 3,552 0 6 0 3,558. 19,337 0 408 0 19,745. 20,229 0 851 0 21,080. 0 3,653 443 117 4,213. NR. Total 6,144 4,849 6,179 1,922 863 19,957. 0 44 0 0 44. 43,605 3,697 1,708 117 49,127 23,677 92,761. Page 19. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Convertible bonds & preferred stock Common equity & bond funds Private equity & hedge funds Total equity like.
(20) AEGON AMERICAS INVESTMENTS. UNAUDITED amounts in millions USD First Quarter. Available-for-sale Bonds Treasuries/Agencies AAA AA A BBB BB B CCC or lower Sovereign exposure Shares Money market investments Other Total available-for-sale (at fair value) Loans Policy loans Mortgage loans Total loans (at amortized cost) Real estate (at fair value) Financial assets at fair value through profit or loss Assets backing liabilities at fair value Assets not backing liabilities at fair value: Convertibles Common stock Limited partnerships Real estate Hedge funds Other Other Total financial assets at fair value through profit or loss Investments general account. Financial supplement. 2008 Second Quarter. Third Quarter. Fourth Quarter. First Quarter. 3,395 21,381 8,549 23,543 28,468 3,671 1,689 304 1,279 785 8,471 1,172 102,707. 4,117 20,990 9,434 23,440 28,099 3,431 1,706 297 1,444 751 8,301 1,177 103,187. 4,374 19,612 8,584 22,184 26,891 3,234 1,702 339 1,379 710 9,075 1,154 99,238. 5,501 16,049 5,934 22,993 24,667 3,074 1,290 380 1,276 632 11,453 1,195 94,444. 6,052 13,654 4,870 20,820 22,959 3,332 999 724 2,020 659 15,373 1,193 92,655. 2,852 16,774 19,626. 2,871 16,426 19,297. 2,882 16,282 19,164. 2,898 16,296 19,194. 2,864 16,046 18,910. 727. 731. 733. 679. 679. 4,764. 4,674. 4,070. 3,348. 2,721. 0 238. 12 186. 0 170. 0 174. 0 176. 834 2,124 798 354 9,112. 866 2,126 857 299 9,020. 882 1,801 889 183 7,995. 842 1,126 817 166 6,473. 735 1,074 805 179 5,690. 132,172. 132,235. 127,130. 120,790. 117,934. 2009 Second Quarter. Third Quarter. Fourth Quarter. Page 20. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(21) AEGON AMERICAS LIFE AND PROTECTION. UNAUDITED amounts in millions USD 2008 First Quarter. Second Quarter. Third Quarter. Fourth Quarter. Full Year. First Quarter. Life production Agency Banks Direct. 162 2 24. 155 3 24. 135 3 23. 116 2 20. 568 10 91. 105 3 20. Total retail new life sales. 188. 182. 161. 138. 669. 128. Universal life Term Whole life/other Variable life. 109 31 37 11. 104 32 37 9. 88 32 34 7. 66 36 30 6. 367 131 138 33. 57 35 33 3. Total retail new life sales of which AEGON USA middle market standardized life production. 188 85. 182 81. 161 77. 138 71. 669 314. 128 71. Accident and health production Agency Direct Total accident and health production of which AEGON USA middle market accident and health production. 51 185 236 179. 47 169 216 160. 45 168 213 158. 44 161 205 154. 187 683 870 651. 42 161 203 157. Earnings Underlying earnings before tax Operating earnings before tax. 274 244. 308 330. 323 227. 227 113. 1,132 914. 221 176. 9,215 255 (165) 178 (65) 9,418. 9,418 237 (160) 152 14 9,661. DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Shadow accounting adjustments Other Balance at end of period. Financial supplement. 9,661 238 (122) 481 (69) 10,189. 10,189 237 (298) 242 (193) 10,177. 9,215 967 (745) 1,053 (313) 10,177. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. 10,177 203 (148) 135 (44) 10,323. Page 21. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(22) AEGON AMERICAS LIFE. UNAUDITED amounts in millions USD First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. Life production Agency Banks Direct. 162 2 24. 155 3 24. 135 3 23. 116 2 20. 568 10 91. 105 3 20. Total retail new life sales. 188. 182. 161. 138. 669. 128. Universal life Term Whole life/other Variable life. 109 31 37 11. 104 32 37 9. 88 32 34 7. 66 36 30 6. 367 131 138 33. 57 35 33 3. Total retail new life sales of which US middle market standardized life production. 188 85. 182 81. 161 77. 138 71. 669 314. 128 71. 1,342. 1,371. 1,354. 1,255. 5,322. 1,198. 159 135. 214 232. 237 156. 159 70. 769 593. 153 120. Premium income Earnings Underlying earnings before tax Operating earnings before tax General account balance roll forward Universal life account balances beginning of period Deposits Lapses and deaths Other Universal life account balances end of period Term Whole life/other Total general account reserves. 16,072 653 (201) 1,267 17,791 1,340 11,202 30,333. 17,791 644 (298) (174) 17,963 1,347 11,050 30,360. 17,963 641 (236) (438) 17,930 1,327 11,379 30,636. 17,930 535 (287) (716) 17,462 1,208 12,577 31,247. 16,072 2,473 (1,022) (61) 17,462 1,208 12,577 31,247. 17,462 548 (290) (328) 17,392 1,186 12,111 30,689. Universal life yield and spread information - US only (annualized) Average yield on investments Average crediting rate Average gross spread Average guaranteed rate. 5.92% 4.74% 1.18% 4.26%. 6.03% 4.65% 1.38% 4.26%. 5.93% 4.73% 1.20% 4.26%. 5.93% 4.73% 1.20% 4.26%. 5.94% 4.70% 1.24% 4.26%. 5.98% 4.74% 1.24% 4.23%. Separate account balances roll forward Account balances beginning of period Deposits Lapses and deaths Other Total account balances end of period. 6,666 126 (114) (627) 6,051. 6,051 121 (61) (214) 5,897. 5,897 103 (37) (789) 5,174. 5,174 101 (22) (1,024) 4,229. 6,666 451 (234) (2,654) 4,229. 4,229 99 (61) (395) 3,872. Separate account balances by fund type Fixed income Equities Total account balances end of period. 834 5,217 6,051. 791 5,106 5,897. 724 4,450 5,174. 739 3,490 4,229. 739 3,490 4,229. 742 3,130 3,872. Gross investment return to policyholder. -7.76%. -1.16%. -10.90%. -16.32%. -31.76%. -6.86%. 8,019 206 (113) 178 (59) 8,231. 8,231 192 (104) 152 17 8,488. 8,488 187 (72) 481 (46) 9,038. 9,038 190 (247) 242 (160) 9,063. 8,019 775 (536) 1,053 (248) 9,063. 9,063 154 (94) 135 (30) 9,228. DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Shadow accounting adjustments Other Balance at end of period. Financial supplement. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 22. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(23) AEGON AMERICAS ACCIDENT AND HEALTH. UNAUDITED amounts in millions USD First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. Accident and health production Agency Direct Total accident and health production of which US middle market production. 51 185 236 179. 47 169 216 160. 45 168 213 158. 44 161 205 154. 187 683 870 651. 42 161 203 157. Premium income. 633. 639. 626. 613. 2,511. 590. Earnings Underlying earnings before tax Operating earnings before tax. 115 109. 94 98. 86 71. 68 43. 363 321. 68 56. Health reserves Accidental death and dismemberment Long term care Other health Total health reserves. 421 2,510 1,161 4,092. 420 2,568 1,139 4,127. 425 2,623 1,159 4,207. 415 2,690 1,109 4,214. 415 2,690 1,109 4,214. 410 2,735 1,092 4,237. DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Other Balance at end of period. 1,196 49 (52) (6) 1,187. 1,187 45 (56) (3) 1,173. 1,173 51 (50) (23) 1,151. 1,151 47 (51) (33) 1,114. 1,196 192 (209) (65) 1,114. 1,114 49 (54) (14) 1,095. Financial supplement. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 23. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(24) AEGON AMERICAS INDIVIDUAL SAVINGS AND RETIREMENT PRODUCTS. UNAUDITED amounts in millions USD. First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. Production Agency Banks Fixed annuity deposits. 30 429 459. 51 1,298 1,349. 35 1,776 1,811. 34 2,294 2,328. 150 5,797 5,947. 333 1,787 2,120. Agency Banks Fee planners/wirehouses/broker-dealers Direct Variable annuity deposits. 201 104 526 144 975. 170 137 605 134 1,046. 141 118 560 93 912. 122 99 433 93 747. 634 458 2,124 464 3,680. 118 131 453 78 780. Agency Banks Fee planners/wirehouses/broker-dealers Mutual fund deposits. 29 124 621 774. 26 152 707 885. 19 123 617 759. 13 47 335 395. 87 446 2,280 2,813. 13 59 235 307. Total savings and retirement deposits. 2,208. 3,280. 3,482. 3,470. 12,440. 3,207. Agency Banks Fee planners/wirehouses/broker-dealers Direct Savings and retirement deposits. 260 657 1,147 144 2,208. 247 1,587 1,312 134 3,280. 195 2,017 1,177 93 3,482. 169 2,440 768 93 3,470. 871 6,701 4,404 464 12,440. 464 1,977 688 78 3,207. Earnings Underlying earnings before tax Operating earnings before tax DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Shadow accounting adjustments Other Balance at end of period. Financial supplement. 169 (91). 2,311 72 (48) 180 (17) 2,498. 176 205. 67 (168). (623) (1,295). (211) (1,349). (403) (394). 2,498 127 (188) 126 12 2,575. 2,575 132 52 399 (16) 3,142. 3,142 151 (287) 756 (128) 3,634. 2,311 482 (471) 1,461 (149) 3,634. 3,634 136 (263) (198) (11) 3,298. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 24. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(25) AEGON AMERICAS FIXED ANNUITIES. UNAUDITED amounts in millions USD First Quarter. Production Agency Banks Fixed annuity deposits Earnings Underlying earnings before tax Operating earnings before tax. Second Quarter. 30 429 459. 51 1,298 1,349. 95 8. 105 133. 2008 Third Quarter 35 1,776 1,811. Fourth Quarter 34 2,294 2,328. Full Year 150 5,797 5,947. 82 (99). 86 (110). 368 (68). First Quarter. 33,504 1,349 (1,415) 317 (560) 33,195 (1,207) 31,988. 33,195 1,811 (1,351) 284 17 33,956 (1,254) 32,702. 33,956 2,328 (1,432) 294 801 35,947 (1,320) 34,627. 34,340 5,947 (5,844) 1,181 323 35,947 (1,320) 34,627. 35,947 2,120 (1,224) 369 (330) 36,882 (1,457) 35,425. General account annuity balances Retail deferred annuities Payout annuities Total return Equity indexed annuities Other Total general account annuities end of period. 21,409 9,588 1,315 328 864 33,504. 21,413 9,426 1,205 320 831 33,195. 22,475 9,242 1,142 318 779 33,956. 24,019 9,755 1,059 312 802 35,947. 24,019 9,755 1,059 312 802 35,947. 26,101 9,158 995 309 319 36,882. 554 23 (20) 170 14 741. 741 71 (48) 113 3 880. 880 82 (9) 366 0 1,319. 1,319 110 (26) 665 0 2,068. 554 286 (103) 1,314 17 2,068. 2,068 95 19 (159) 0 2,023. US retail deferred annuities yield and spread information (annualized) Average yield on investments 5.32% Average crediting rate 3.51% Average crediting rate on new business 3.85% Average gross spread 1.81% Average underlying gross spread 2.14% Average guaranteed rate 2.97%. 6.11% 3.59% 4.02% 2.52% 2.17% 2.92%. 4.36% 3.65% 4.17% 0.71% 2.04% 2.85%. 4.46% 3.76% 4.43% 0.70% 2.06% 2.78%. 5.05% 3.63% 4.22% 1.42% 2.10% 2.88%. 5.46% 3.82% 3.92% 1.64% 1.72% 2.70%. 16.27% 3.77% 20.03%. 14.71% 3.36% 18.07%. 15.70% 3.04% 18.74%. 15.95% 3.39% 19.34%. 11.58% 2.90% 14.48%. Financial supplement. 19.90% 3.98% 23.88%. Fourth Quarter. Full Year. 86 41. 34,340 459 (1,646) 286 65 33,504 (1,206) 32,298. US retail deferred annuities lapse and death rates (annualized) Surrenders and withdrawals Deaths Total. 2009 Third Quarter. 333 1,787 2,120. Fixed annuity balances roll forward General account annuities beginning of period Deposits Lapses and deaths Interest credited Other Total general account annuities end of period Fixed account of variable annuities Total fixed annuity balances. DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Shadow accounting adjustments Other Balance at end of period. Second Quarter. Page 25. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(26) AEGON AMERICAS VARIABLE ANNUITIES. UNAUDITED amounts in millions USD First Quarter. Production Agency Banks Fee planners/wirehouses/broker-dealers Direct Variable annuity deposits Earnings Underlying earnings before tax Operating earnings before tax. 201 104 525 144 974. 70 (103). Second Quarter 170 137 606 134 1,047. 68 69. 2008 Third Quarter 141 118 560 93 912. Fourth Quarter 122 99 433 93 747. Full Year. First Quarter. 634 458 2,124 464 3,680. 118 131 453 78 780. (16) (70). (709) (1,185). (587) (1,289). (480) (426). Variable annuity balances roll forward Separate account annuities beginning of period Deposits Lapses and deaths Other Total separate account annuities end of period Fixed account of variable annuities Total variable annuity balances. 48,049 975 (1,254) (3,546) 44,224 1,206 45,430. 44,224 1,046 (1,274) (505) 43,491 1,207 44,698. 43,491 912 (1,065) (4,467) 38,871 1,254 40,125. 38,871 747 (898) (6,467) 32,253 1,320 33,573. 48,049 3,680 (4,491) (14,985) 32,253 1,320 33,573. 32,253 780 (820) (2,160) 30,053 1,457 31,510. Separate account balances by fund type Fixed income Equities Separate account balance end of period. 7,420 36,804 44,224. 7,859 35,632 43,491. 7,486 31,385 38,871. 7,865 24,388 32,253. 7,865 24,388 32,253. 8,346 21,707 30,053. Minimum guarantee net amount at risk GMDB only GMDB and GMLB GMLB only Canada segregated funds GMDB and GMLB Total net amount at risk. 1,956 1,287 196 1,008 4,447. 2,340 1,299 176 994 4,809. 3,421 2,711 197 1,250 7,579. 4,989 4,612 200 1,417 11,218. 4,989 4,612 200 1,417 11,218. 5,271 5,326 234 1,428 12,259. Separate account annuity balances US deferred annuities No guarantees GMDB Only GMDB and GMLB GMLB Only Total US deferred annuities Canada segregated funds Total separate account annuity balances. 4,178 19,177 11,089 5,289 39,733 4,491 44,224. 4,235 18,498 10,606 5,662 39,001 4,490 43,491. 3,911 16,361 13,463 1,318 35,053 3,818 38,871. 3,244 13,648 11,967 636 29,495 2,758 32,253. 3,244 13,648 11,967 636 29,495 2,758 32,253. 3,265 12,180 11,439 636 27,520 2,533 30,053. Gross investment return to policyholder. -6.73%. -0.70%. -9.48%. -14.78%. -28.27%. -5.60%. 1,757 49 (28) 10 (34) 1,754. 1,754 56 (140) 13 6 1,689. 1,689 50 62 33 (16) 1,818. 1,818 41 (262) 91 (125) 1,563. 1,757 196 (368) 147 (169) 1,563. 1,563 41 (282) (39) (11) 1,272. 9.01% 1.25% 10.26%. 9.41% 1.44% 10.85%. 8.77% 1.22% 9.99%. 8.77% 1.11% 9.88%. 9.39% 1.31% 10.70%. 8.69% 1.44% 10.13%. DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Shadow accounting adjustments Other Balance at end of period US deferred annuities lapse and death rates (annualized) Surrenders and withdrawals Deaths Total. Financial supplement. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 26. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(27) AEGON AMERICAS RETAIL MUTUAL FUNDS. UNAUDITED amounts in millions USD First Quarter. Production Agency Banks Fee planners/wirehouses/broker-dealers Mutual fund deposits Earnings Underlying earnings before tax Operating earnings before tax. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. 29 124 620 773. 26 152 708 886. 19 123 616 758. 13 47 336 396. 87 446 2,280 2,813. 4 4. 3 3. 1 1. 0 0. 8 8. First Quarter. 11,269 885 (412) (200) 11,542. 11,542 759 (481) (1,565) 10,255. 10,255 395 (615) (2,004) 8,031. 11,949 2,813 (2,035) (4,696) 8,031. 8,031 307 (562) (573) 7,203. Gross investment return to mutual fund holder. -7.61%. -1.76%. -13.36%. -19.58%. -37.83%. -7.21%. 6 (1) 0 5. 5 1 (3) 3. Financial supplement. 3 0 3 6. 0 0 3 3. Fourth Quarter. Full Year. (9) (9). 11,949 774 (527) (927) 11,269. 0 0 3 3. 2009 Third Quarter. 13 59 235 307. Mutual fund account balances roll forward Account balances beginning of period Deposits Withdrawals Other Total account balance at end of period. DAC/VOBA/FSR's roll forward Balance at beginning of period Amortized during the period Other Balance at end of period. Second Quarter. 3 0 0 3. Page 27. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(28) AEGON AMERICAS PENSIONS AND ASSET MANAGEMENT. UNAUDITED amounts in millions USD 2008 Third Quarter. First Quarter. Second Quarter. Production Retirement plans Purchased annuities Total pension deposits. 3,719 4 3,723. 2,609 0 2,609. 2,464 28 2,492. 2,585 14 2,599. 11,377 46 11,423. 2,969 55 3,024. Retirement plans Purchased annuities Total pension written sales. 1,837 4 1,841. 1,658 0 1,658. 1,912 36 1,948. 1,388 4 1,392. 6,795 44 6,839. 1,313 54 1,367. 529. 521. 342. 172. 1,564. 145. 45 38. 50 54. 32 10. 23 (11). Account balances Retirement plans Purchased annuities Asset management Total account balance. 49,761 4,053 12,164 65,978. 49,856 4,016 12,072 65,944. 46,872 4,016 11,528 62,416. 41,982 3,987 9,900 55,869. 41,982 3,987 9,900 55,869. 41,580 4,014 9,740 55,334. Retirement plans roll forward Account balances at beginning of period Deposits Withdrawals/Benefits Other Total account balance at end of period. 51,304 3,719 (2,189) (3,073) 49,761. 49,761 2,609 (1,917) (597) 49,856. 49,856 2,464 (1,696) (3,752) 46,872. 46,872 2,585 (1,956) (5,519) 41,982. 51,304 11,377 (7,758) (12,941) 41,982. 41,982 2,969 (1,653) (1,718) 41,580. Purchased annuities roll forward Account balances at beginning of period Deposits / premiums Withdrawals / benefits Other Total account balance at end of period. 4,078 4 (86) 57 4,053. 4,053 0 (91) 54 4,016. 4,016 28 (84) 56 4,016. 4,016 14 (97) 54 3,987. 4,078 46 (358) 221 3,987. 3,987 55 (84) 56 4,014. 12,366 529 (323) (408) 12,164. 12,164 521 (647) 34 12,072. 12,072 342 (553) (333) 11,528. 11,528 172 (695) (1,105) 9,900. 12,366 1,564 (2,218) (1,812) 9,900. 9,900 145 (381) 76 9,740. 355 13 (8) 14 5 379. 379 10 (13) (5) 0 371. 371 8 (10) 0 0 369. 369 8 1 0 (13) 365. 355 39 (30) 9 (8) 365. 365 9 (6) 0 0 368. Off balance sheet asset management production Earnings Underlying earnings before tax Operating earnings before tax. Asset management account balances roll forward Account balance at beginning of period Deposits Withdrawals Other Total account balance at end of period DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Shadow accounting adjustments Other Balance at end of period Number of pension participants serviced (thousands). Financial supplement. 2,160. 2,175. 2,202. Fourth Quarter. 2,231. Full Year. 150 91. 2,231. First Quarter. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. 10 (3). 2,309. Page 28. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(29) AEGON AMERICAS INSTITUTIONAL PRODUCTS. UNAUDITED amounts in millions USD 2008 Third Quarter. First Quarter. Second Quarter. 2,009 2,861 4,870. 2,072 3,361 5,433. 3,798 4,769 8,567. 1,957 6,118 8,075. 9,836 17,109 26,945. 877 1,530 2,407. 5 91 14. 0 58 6. 0 13 1. 0 153 15. 5 315 36. 2 1 2. Earnings Underlying earnings before tax Operating earnings before tax. 162 (82). 155 235. 146 (58). 131 (84). 594 11. 117 18. DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Shadow accounting adjustments Balance at end of period. 831 5 4 43 883. 883 4 (6) 10 891. 891 2 (3) 52 942. 942 14 (15) 24 965. 831 25 (20) 129 965. 965 2 (4) 11 974. Production Institutional spread based Institutional synthetic GIC/Other Institutional production Life recurring premium Life single premium BOLI/COLI standardized life production. Financial supplement. Fourth Quarter. Full Year. First Quarter. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 29. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(30) AEGON AMERICAS INSTITUTIONAL GUARANTEED PRODUCTS. UNAUDITED amounts in millions. Production Institutional spread based Institutional synthetic GIC/Other Institutional production Earnings Underlying earnings before tax Operating earnings before tax. USD First Quarter. Second Quarter. 2,009 2,861 4,870. 2,072 3,361 5,433. 141 (99). 141 218. 2008 Third Quarter 3,798 4,769 8,567. Fourth Quarter 1,957 6,118 8,075. Full Year 9,836 17,109 26,945. 135 (58). 127 (76). 544 (15). First Quarter. 33,296 2,072 (2,234) 302 33,436. 33,436 3,798 (3,181) 292 34,345. 34,345 1,957 (3,716) 223 32,809. 34,482 9,836 (12,715) 1,206 32,809. 32,809 877 (4,421) 1,005 30,270. Institutional synthetic GIC/Other account balance roll forward Account balances beginning of period Deposits Withdrawals Other Total account balance end of period. 60,051 2,861 (3,078) 826 60,660. 60,660 3,361 (2,622) 607 62,006. 62,006 4,769 (3,401) 506 63,880. 63,880 6,118 (1,926) 142 68,214. 60,051 17,109 (11,027) 2,081 68,214. 68,214 1,530 (1,051) 17 68,710. 4.00% 3.91% 0.09% 1.09%. 4.55% 2.86% 1.69% 1.06%. 1.79% 2.72% -0.93% 0.97%. 2.90% 2.82% 0.08% 1.06%. 3.31% 3.08% 0.23% 1.06%. 1.34% 1.08% 0.26% 0.88%. 39 0 (1) 28 66. 66 0 (1) (3) 62. 76 0 (5) (1) 70. 39 0 (7) 38 70. 70 0 0 (1) 69. Financial supplement. 62 0 0 14 76. Fourth Quarter. Full Year. 105 8. 34,482 2,009 (3,584) 389 33,296. DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Shadow accounting adjustments Balance at end of period. 2009 Third Quarter. 877 1,530 2,407. Institutional spread based account balance roll forward Account balances beginning of period Deposits Withdrawals Other Total account balance end of period. Institutional spread based yield and spread information (annualized) Average yield on investments Average crediting rate Average gross spread Average underlying gross spread. Second Quarter. Page 30. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(31) AEGON AMERICAS BOLI / COLI. UNAUDITED amounts in millions USD First Quarter. Production Life recurring premium Life single premium BOLI/COLI standardized life production Premium income Earnings Underlying earnings before tax Operating earnings before tax. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. 5 91 14. 0 58 6. 0 13 1. 0 153 15. 5 315 36. 2 1 2. 129. 79. 51. 144. 403. 19. 21 17. 14 17. 11 0. 50 26. 12 10. 4 (8). General account balances roll forward Account balances beginning of period Deposits Lapses and deaths Other Total account balances end of period. 4,265 1 (43) 46 4,269. 4,269 37 (99) 46 4,253. 4,253 0 (60) 52 4,245. 4,245 0 (13) 65 4,297. 4,265 38 (215) 209 4,297. 4,297 1 (37) 52 4,313. Separate account balances roll forward Account balances beginning of period Deposits Lapses and deaths Other Total account balances end of period. 7,051 128 (24) (151) 7,004. 7,004 42 (44) (142) 6,860. 6,860 34 (1) (154) 6,739. 6,739 165 (44) (332) 6,528. 7,051 369 (113) (779) 6,528. 6,528 16 (8) (166) 6,370. Separate account balances by fund type Fixed income Equities Separate account balance end of period. 5,851 1,153 7,004. 5,726 1,134 6,860. 5,712 1,027 6,739. 5,749 779 6,528. 5,749 779 6,528. 5,673 697 6,370. Gross investment return to policyholder. -1.89%. -1.74%. -1.89%. -4.77%. -9.93%. -1.95%. 817 4 (5) 13 829. 829 2 (3) 38 866. 866 14 (10) 25 895. 792 25 (13) 91 895. 895 2 (4) 12 905. DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Shadow accounting adjustments Balance at end of period. Financial supplement. 792 5 5 15 817. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 31. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(32) AEGON AMERICAS LIFE REINSURANCE. UNAUDITED amounts in millions USD First Quarter. Production Domestic standardized life Europe First Year Premiums International standardized life Total standardized life. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. 35 1 25 61. 47 4 22 73. 38 2 14 54. 37 7 8 52. 157 14 69 240. 35 4 13 52. 1 8 9. 1 7 8. 1 4 5. 1 5 6. 4 24 28. 0 3 3. 458 1 66. 490 4 82. 474 4 69. 521 7 47. 1,943 16 264. 470 4 59. 65 46. 1 7. 11 (117). (170) (465). 2,574. 2,611. 2,739. 2,878. 2,878. 2,924. Account balances Fixed annuities - general account. 520. 507. 488. 438. 438. 436. DAC/VOBA/FSR's roll forward Balance at beginning of period Capitalized during the period Amortized during the period Shadow accounting adjustments Other Balance at end of period. 2,049 50 (45) 3 1 2,058. 2,058 62 (40) 12 (5) 2,087. 2,087 52 (41) 15 (11) 2,102. 2,102 53 (74) 10 (4) 2,087. 2,049 217 (200) 40 (19) 2,087. 2,087 50 (55) (22) (8) 2,052. Fixed annuities Variable annuities - off balance sheet Total annuities deposits Premium income Domestic Europe International Earnings Underlying earnings before tax Operating earnings before tax Policy reserves. Financial supplement. (93) (529). Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. (30) 76. Page 32. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(33) AEGON AMERICAS SELECTED INFORMATION ON INTERNATIONAL BUSINESS *. UNAUDITED amounts in millions USD. First Quarter Production New life premium - recurring Asia Pacific Europe Mexico South America Total new life premium - recurring New life premium - single Asia Pacific Europe Mexico South America Total new life premium - single. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. 28 1 3 2 34. 23 3 5 0 31. 15 2 3 1 21. 10 7 2 1 20. 76 13 13 4 106. 13 4 2 1 20. 116 0 0 0 116. 99 0 0 0 99. 122 0 0 0 122. 187 0 0 1 188. 524 0 0 1 525. 19 0 0 1 20. New life sales. 46. 41. 34. 39. 160. 22. New health premium Asia Pacific Europe Mexico South America Total new health premium. 12 10 2 0 24. 11 11 3 0 25. 12 9 4 0 25. 12 10 4 0 26. 47 40 13 0 100. 11 8 3 0 22. General account GICs / funding agreements Ireland Total general account GICs / funding agreements. 43 43. 0 0. 0 0. 0 0. 43 43. 0 0. Revenue Asia Pacific Ireland Europe Mexico South America Total revenue. 249 38 35 15 6 343. 261 29 37 15 6 348. 250 27 36 15 3 331. 305 30 33 8 5 381. 1,065 124 141 53 20 1,403. 145 21 30 11 7 214. Annual premiums in force Asia Pacific Ireland Europe Mexico South America Total annual premiums in force. 551 0 145 44 16 756. 523 0 145 56 18 742. 474 0 125 55 18 672. 472 0 114 47 19 652. 472 0 114 47 19 652. 460 0 106 46 19 631. 1,962 3,356 29 10 15 5,372. 2,116 3,375 32 10 16 5,549. 2,184 3,393 29 8 14 5,628. 1,955 3,353 29 5 12 5,354. 1,955 3,353 29 5 12 5,354. 2,341 3,310 31 9 10 5,701. Reserves Asia Pacific Ireland Europe Mexico South America Total reserves. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. * Please note that the information provided on this page is also included in information per Line of Business on previous pages in this document.. Financial supplement. Page 33. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(34) AEGON AMERICAS SELECTED INFORMATION ON MIDDLE MARKET BUSINESS *. UNAUDITED amounts in millions USD. First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. Production New life premium - recurring AEGON Financial Partners Monumental Life AEGON Direct Marketing Services Total new life premium - recurring. 43 16 22 81. 40 16 22 78. 39 14 21 74. 38 12 18 68. 160 58 83 301. 37 13 19 69. New life premium - single AEGON Financial Partners Monumental Life AEGON Direct Marketing Services Total new life premium - single. 17 6 13 36. 13 6 15 34. 11 6 14 31. 9 5 12 26. 50 23 54 127. 7 4 6 17. New life sales. 85. 81. 77. 71. 314. 71. New health premium AEGON Financial Partners Monumental Life AEGON Direct Marketing Services Total new health premium. 16 1 162 179. 14 2 144 160. 14 1 143 158. 18 1 135 154. 62 5 584 651. 17 1 139 157. Revenue AEGON Financial Partners Monumental Life AEGON Direct Marketing Services Total revenue. 559 255 564 1,378. 561 254 579 1,394. 547 254 566 1,367. 537 250 538 1,325. 2,204 1,013 2,247 5,464. 527 248 535 1,310. Annual premiums in force AEGON Financial Partners Monumental Life AEGON Direct Marketing Services Total annual premiums in force. 1,252 668 2,040 3,960. 1,256 668 2,039 3,963. 1,205 665 2,020 3,890. 1,214 655 1,984 3,853. 1,214 655 1,984 3,853. 1,151 652 1,911 3,714. Reserves AEGON Financial Partners Monumental Life AEGON Direct Marketing Services Total reserves. 14,165 4,592 2,483 21,240. 14,019 4,618 2,458 21,095. 13,356 4,651 2,468 20,475. 12,428 4,669 2,390 19,487. 12,428 4,669 2,390 19,487. 12,205 4,687 2,351 19,243. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. * Please note that the information provided on this page is also included in information per Line of Business on previous pages in this document.. Financial supplement. Page 34. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(35) AEGON AMERICAS OVER / (UNDER) PERFORMANCE OF FAIR VALUE ITEMS. UNAUDITED amounts in millions USD. First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. Underlying earnings before tax Over / (under) performance of fair value items Operating earnings before tax. 716 (560) 156. 691 141 832. 578 (685) (107). (412) (1,330) (1,742). 1,573 (2,434) (861). (88) (42) (130). Operating earnings impact of fair value items Life and protection Life Accident and health. (11) (2). 34 6. (67) (10). (79) (19). (123) (25). (23) (9). (67) (163) 0. 50 12 0. (159) (45) 0. (173) (469) 0. (349) (665) 0. (28) 64 0. Individual savings and retirement products Fixed annuities Variable annuities Retail mutual funds Pensions and asset management. (1). 13. (16). (29). (33). (8). Institutional products Institutional guaranteed products BOLI / COLI. (195) (1). 115 6. (155) (9). (167) (9). (402) (13). (70) 1. Life reinsurance Total operating earnings impact of fair value items. (14) (454). 12 248. (122) (583). (291) (1,236). (415) (2,025). (24) (6). 18 4. (81) (15). (89) (25). (176) (42). (33) (12). (87) (173) 0. 28 1 0. (181) (54) 0. (196) (476) 0. (436) (702) 0. (45) 54 0. Over / (under) performance of fair value items by line of business Life and protection Life Accident and health Individual savings and retirement products Fixed annuities Variable annuities Retail mutual funds Pensions and asset management. 2009 Third Quarter. Fourth Quarter. Full Year. 113 40. (7). 4. (22). (34). (59). (13). Institutional products Institutional guaranteed products BOLI / COLI. (240) (4). 77 3. (193) (11). (203) (12). (559) (24). (97) (2). Life reinsurance Total over / (under) performance of fair value items. (19) (560). 6 141. (128) (685). (295) (1,330). (436) (2,434). 106 (42). Financial supplement. Second Quarter. Page 35. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. USD.
(36) AEGON THE NETHERLANDS Reporting structure. INDIVIDUAL SAVINGS & RETIREMENT PRODUCTS. LIFE. SAVINGS PRODUCTS. PENSIONS & ASSET MANAGEMENT. DISTRIBUTION. GENERAL INSURANCE. ACCIDENT & HEALTH. Financial supplement. Page 36. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. LIFE & PROTECTION.
(37) AEGON THE NETHERLANDS EARNINGS. UNAUDITED amounts in millions EUR. EUR. First quarter. Second quarter. 2008 Third quarter. Fourth quarter. Full year. First quarter. Second quarter. 2009 Third quarter. Fourth quarter. Full year. Underlying earnings before tax by line of business Life and protection Life Accident and health Individual savings and retirement products Saving products. 32 8. 29 4. 16 14. (34) (3). 43 23. 44 11. 1. 0. 5. (20). (14). (9). Pensions and asset management. 51. 60. 28. 169. 308. 26. Distribution. 11. 8. 6. (22). 3. 9. General insurance. 10. 9. 4. (15). 8. (9). 0 113. 6 116. 1 74. 0 75. 7 378. 0 72. 92. 92. 62. 80. 326. 55. 13 8. 27 4. 6 14. 29 (3). 75 23. 18 11. Share in net results of associates Underlying earnings before tax Net underlying earnings. Life and protection Life Accident and health Individual savings and retirement products Saving products. 1. 0. 5. (20). (14). (84). 25. (88). 258. 111. Distribution. 11. 8. 6. (22). General insurance. Pensions and asset management. (9) (138). 3. 9. 10. 9. 4. (15). 8. (9). Share in net results of associates Operating earnings before tax. 0 (41). 6 79. 1 (52). 0 227. 7 213. 0 (118). Net operating earnings. (22). 64. (32). 129. 139. (87). Revenues Life insurance gross premiums Accident and health insurance General insurance Total gross premiums. 1,458 118 134 1,710. 570 34 129 733. 574 34 99 707. 602 24 96 722. 3,204 210 458 3,872. 1,568 106 138 1,812. Investment income Fee and commission income Total revenues. 547 111 2,368. 581 101 1,415. 612 100 1,419. 647 104 1,473. 2,387 416 6,675. 502 106 2,420. Financial supplement. Page 37. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Operating earnings before tax by line of business.
(38) AEGON THE NETHERLANDS INVESTMENTS GENERAL ACCOUNT. UNAUDITED amounts in millions EUR March 31, 2009. Cash / Treasuries / Agencies IG corporates High yield corporate Corporate other Emerging markets debt Commercial MBS Residential MBS Non-housing related ABS Housing-related ABS CDOs Subtotal. 12,372 3,163 315 34 295 45 1,072 749 0 151 18,196. Residential mortgages loans Commercial mortgages loans Total mortgages. 8,712 86 8,798 10 644 248 902. Real estate Other Investments general account (excluding policy loans). 2,044 2,895 32,835. Policy loans Investments general account. 40 32,875. AEGON THE NETHERLANDS INVESTMENTS GENERAL ACCOUNT amounts in millions EUR March 31, 2009 AAA Structered assets by rating Commercial MBS Residential MBS Non-housing related ABS Housing-related ABS CDOs Total Credits by rating IG corporates High yield corporate Emerging markets debt Corporate other Total Cash / Treasuries / Agencies Total. Financial supplement. AA. A. BBB. <BBB. 36 1,068 603 0 0 1,707. 0 4 50 0 112 166. 9 0 52 0 3 64. 0 0 24 0 22 46. 0 0 20 0 14 34. 270 0 0 0 270. 732 0 0 0 732. 1,607 3 15 0 1,625. 554 11 111 0 676. 0 301 166 20 487. NR. Total 45 1,072 749 0 151 2,017. 0 0 3 14 17. 3,163 315 295 34 3,807 12,372 18,196. Page 38. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Convertible bonds & preferred stock Common equity & bond funds Private equity & hedge funds Total equity like.
(39) AEGON THE NETHERLANDS PRODUCTION. UNAUDITED amounts in millions EUR 2008 Third Quarter. First Quarter. Second Quarter. 191 243 118 552 412 612 1,024 134 1,710 547 111 2,368. 115 238 34 387 121 96 217 129 733 581 101 1,415. 108 225 34 367 118 123 241 99 707 612 100 1,419. 91 240 24 355 162 109 271 96 722 647 104 1,473. 505 946 210 1,661 813 940 1,753 458 3,872 2,387 416 6,675. 123 228 106 457 500 717 1,217 138 1,812 502 106 2,420. New life sales Life Single premiums Recurring premiums annualized Total recurring plus 1/10 single. 175 14 31. 107 12 23. 101 13 23. 83 11 20. 466 50 97. 114 12 23. New life sales Pensions Single premiums Recurring premiums annualized Total recurring plus 1/10 single Total new life sales. 270 13 40 71. 335 12 45 68. 112 5 16 39. 142 7 21 41. 859 37 122 219. 277 11 39 62. 6 8. 3 7. 2 6. 4 7. 15 28. 7 7. 648 47 695. 688 80 768. 547 18 565. 590 83 673. 2,473 228 2,701. 580 11 591. 5,247. 5,361. 5,155. 4,620. 4,620. 4,723. Revenues Individual life single premiums Individual life recurring premiums Accident and health insurance premiums Total life and protection premiums Pensions single premiums Pensions recurring premiums Total pensions gross premiums General insurance premiums Total gross premiums Investment income Fees and commissions Total revenues. New premium production Accident and health insurance premiums General insurance Gross deposits (on and off balance) Savings products Pensions and asset management Total gross deposits (on and off balance) Account balances at period end Savings deposits. Financial supplement. Fourth Quarter. Full Year. First Quarter. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 39. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. EUR.
(40) AEGON THE NETHERLANDS INVESTED ASSETS AND EXPENSES. UNAUDITED amounts in millions EUR First Quarter. 2008 Second Quarter. Third Quarter. Fourth Quarter. First Quarter. Investments general account Balance at beginning of period Net in and outflows Market performance Balance at end of period. 30,813 867 (220) 31,460. 31,460 1,030 (513) 31,977. 31,977 (385) (137) 31,455. 31,455 524 184 32,163. 32,163 1,391 (679) 32,875. Investments for account of policyholder Balance at beginning of period Net in and outflows Market performance Balance at end of period. 21,354 703 (1,408) 20,649. 20,649 36 (653) 20,032. 20,032 443 (909) 19,566. 19,566 689 (1,122) 19,133. 19,133 942 (718) 19,357. Off balance sheet investments Assets under management Balance at beginning of period Net in and outflows Market performance Balance at end of period. 13,476 36 (656) 12,856. 12,856 68 (119) 12,805. 12,805 (157) (359) 12,289. 12,289 14 (520) 11,783. 11,783 (112) (476) 11,195. 219 (4) 12 227. 207 (3) 14 218. 211 (3) 12 220. 297 (3) 14 308. 217 (4) 12 225. 68 (6) 21 83. 63 (2) 20 81. 44 0 20 64. 48 0 20 68. 63 0 19 82. 284. 376. 307. Total expenses and commissions Gross expenses Deferred expenses Amortization of deferred expenses Net expenses Gross commissions Deferred commissions Amortization of deferred commissions Net commissions Total expenses and commissions. Financial supplement. 310. 299. 2009 Second Quarter. Third Quarter. Fourth Quarter. Page 40. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. EUR.
(41) AEGON THE NETHERLANDS SUPPLEMENTARY INFORMATION. UNAUDITED amounts in millions EUR. EUR First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. DAC roll forward Deferred acquisition costs at beginning of period Capitalized during the period Amortized during the period Deferred acquisition costs at end of period. 612 9 (28) 593. 593 5 (28) 570. 570 3 (27) 546. 546 4 (29) 521. 612 21 (112) 521. 521 4 (26) 499. General insurance and Accident & Health ratio's Claim ratio Cost ratio Combined ratio. 57% 30% 87%. 59% 30% 89%. 59% 30% 89%. 75% 31% 106%. Net gains on investments Realised on sale of available-for-sale shares Realised on sale of available-for-sale bonds Realised on sale of mortgages and loans Fair value movements in real estate Fair value movements in derivatives Total net gains on investments. 3 (10) 0 20 63 76. 10 (18) 3 37 (147) (115). (12) (16) (1) (1) 5 (25). 20 77 (7) (59) 53 84. 21 33 (5) (3) (26) 20. 55 84 0 (4) (23) 112. 230 (347) 2 6 (109) 63 (46). 244 (993) 1 5 (743) 213 (530). 179 (916) (5) 5 (737) 223 (514). 55 (410) (11) 4 (362) 138 (224). 55 (410) (11) 4 (362) 138 (224). (4) (1,045) (41) 4 (1,086) 295 (791). Financial supplement. 2009 Third Quarter. Fourth Quarter. Full Year. 61% 29% 90%. Page 41. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Revaluation reserves Available-for-sale shares Available-for-sale bonds Available-for-sale other Real estate held for own use Sub-total Deferred taxation Total balance of revaluation reserves, net of tax. Second Quarter.
(42) AEGON THE NETHERLANDS OVER / (UNDER) PERFORMANCE OF FAIR VALUE ITEMS. UNAUDITED amounts in millions EUR. First Quarter. Second Quarter. 2008 Third Quarter. Underlying earnings before tax Over / (under) performance of fair value items Operating earnings before tax. 113 (154) (41). 116 (37) 79. 74 (126) (52). Operating earnings impact of certain fair value items Life and protection Pensions and asset management Total operating earnings impact of certain fair value items. (19) (131) (150). (2) (31) (33). Over / (under) performance of certain fair value items by line of business Life and protection (19) Pensions and asset management (135) Total over / (under) performance of certain fair value items (154). (2) (35) (37). Financial supplement. Fourth Quarter. Full Year. First Quarter. 75 152 227. 378 (165) 213. 72 (190) (118). (10) (112) (122). 63 99 162. 32 (175) (143). (26) (154) (180). (10) (116) (126). 63 89 152. 32 (197) (165). (26) (164) (190). Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 42. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. EUR.
(43) Financial supplement. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Page 43.
(44) UNITED pensions AEGON & asset management. KINGDOM. Reporting structure. PENSIONS & ASSET MANAGEMENT. DISTRIBUTION. LIFE. Financial supplement. Page 44. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. LIFE & PROTECTION.
(45) AEGON UNITED KINGDOM EARNINGS. UNAUDITED amounts in millions GBP. GBP. First quarter. Second quarter. 2008 Third quarter. Fourth quarter. Full year. First quarter. Second quarter. 2009 Third quarter. Fourth quarter. Full year. Underlying earnings before tax by line of business Life and protection. 8. 11. 9. 18. 46. Pensions and asset management. 28. 27. 21. (8). 68. 7 3. Distribution. (2). 0. (2). 3. (1). (3). Underlying earnings before tax. 34. 38. 28. 13. 113. 7. Net underlying earnings. 30. 31. 26. 17. 104. 10. 8. 11. 9. 18. 46. 7. Pensions and asset management. 28. 27. 21. (23). 53. 0. Distribution. (2). 0. (2). 3. (1). (3). Operating earnings before tax. 34. 38. 28. (2). 98. 4. Net operating earnings. 30. 31. 26. 2. 89. 8. 1,709 451 46 2,206. 2,006 545 49 2,600. 1,818 490 44 2,352. 1,646 521 51 2,218. 7,179 2,007 190 9,376. 1,650 469 40 2,159. Operating earnings before tax by line of business Life and protection. Life insurance gross premiums Investment income Fee and commission income Total revenues. Financial supplement. Page 45. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Revenues.
(46) AEGON UNITED KINGDOM EARNINGS. UNAUDITED amounts in millions EUR. EUR. First quarter. Second quarter. 2008 Third quarter. Fourth quarter. Full year. First quarter. Second quarter. 2009 Third quarter. Fourth quarter. Full year. Underlying earnings before tax by line of business Life and protection. 10. 14. 12. 22. 58. Pensions and asset management. 37. 34. 26. (12). 85. 7 3. Distribution. (2). 0. (3). 3. (2). (3). Underlying earnings before tax. 45. 48. 35. 13. 141. 7. Net underlying earnings. 40. 39. 33. 19. 131. 11. Life and protection. 10. 14. 12. 22. 58. 7. Pensions and asset management. 37. 34. 26. (31). 66. 0. Distribution. (2). 0. (3). 3. (2). (3). Operating earnings before tax. 45. 48. 35. (6). 122. 4. Net operating earnings. 40. 39. 33. 0. 112. 9. 2,258 596 60 2,914. 2,527 687 63 3,277. 2,286 616 55 2,957. 1,946 622 61 2,629. 9,017 2,521 239 11,777. 1,820 517 44 2,381. Operating earnings before tax by line of business. Life insurance gross premiums Investment income Fee and commission income Total revenues. Financial supplement. Page 46. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Revenues.
(47) AEGON UNITED KINGDOM INVESTMENTS GENERAL ACCOUNT. UNAUDITED amounts in millions GBP March 31, 2009. Cash / Treasuries / Agencies IG corporates High yield corporate Corporate other Emerging markets debt Commercial MBS Residential MBS Non-housing related ABS Housing-related ABS CDOs Subtotal. 254 3,870 91 0 47 290 13 373 111 0 5,049. Residential mortgages loans Commercial mortgages loans Total mortgages. 0 0 0 0 98 0 98. Real estate Other Investments general account (excluding policy loans). 0 10 5,157. Policy loans Investments general account. 0 5,157. AEGON UNITED KINGDOM INVESTMENTS GENERAL ACCOUNT amounts in millions GBP March 31, 2009 AAA Structered assets by rating Commercial MBS Residential MBS Non-housing related ABS Housing-related ABS CDOs Total Credits by rating IG corporates High yield corporate Emerging markets debt Corporate other Total Cash / Treasuries / Agencies Total. Financial supplement. AA. A. BBB. <BBB. 124 13 55 0 0 192. 121 0 20 87 0 228. 42 0 228 24 0 294. 3 0 70 0 0 73. 0 0 0 0 0 0. 50 0 0 0 50. 395 0 15 0 410. 2,439 0 9 0 2,448. 986 0 23 0 1,009. 0 91 0 0 91. NR. Total 290 13 373 111 0 787. 0 0 0 0 0. 3,870 91 47 0 4,008 254 5,049. Page 47. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Convertible bonds & preferred stock Common equity & bond funds Private equity & hedge funds Total equity like.
(48) AEGON UNITED KINGDOM PRODUCTION AND MARGINS. UNAUDITED amounts in millions GBP. GBP First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. New life sales. Developing Bulk purchase annuities Annuities Protection Investment bonds 1 Variable annuities Total life and pensions production AEGON Asset Management - pooled funds. 118 86. 141 93. 111 80. 118 66. 488 325. 112 68. 1 34 19 28 2. 3 36 20 39 3. 5 49 18 33 2. 2 46 19 30 4. 11 165 76 130 11. 5 50 15 11 0. 288. 335. 298. 285. 1,206. 261. 3. 4. 5. 4. 16. 4. 1,222. Total production. 291. 339. 303. 289. Developing life and pensions business represents. 29%. 30%. 35%. 35%. 10.0% 7.6%. 10.1% 7.9%. 10.6% 8.2%. 11.4% 9.0%. Independent Financial Advisors Tied distribution Banks (including bank IFAs) Rebates/internally generated. 241 20 10 17. 273 22 20 19. 238 23 16 22. Total life and pensions production. 288. 334. Non-IFA distribution represents. 16% 20.7%. Market share (12 month period to end of quarter)2 Independent Financial Advisors Total market. 265. 32%. 31%. 216 32 11 26. 968 97 57 84. 203 25 11 22. 299. 285. 1,206. 261. 18%. 21%. 24%. 20%. 22%. 21.4%. 21.9%. 22.9%. 22.9%. 27.3%. Standardized life and pensions business production by channel. New business margins (VNB as % of APE; pre tax, pre solvency; year-to-date) 1. Q1 2009 Variable annuities production was GBP 10 million. From Q1 2009 this is reported separately, in the Other Countries segment, rather than as part of the UK segment.. 2. Source: Association of British Insurers, data only available one quarter in arrears.. Financial supplement. Page 48. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Core pensions Group pensions Individual pensions.
(49) AEGON UNITED KINGDOM CASH FLOWS. UNAUDITED amounts in millions GBP First Quarter. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. Unit-linked pensions Gross inflows & switches Redemptions Net inflows. 1,329 (949) 380. 1,500 (928) 572. 1,261 (826) 435. 1,161 (1,031) 130. 5,251 (3,734) 1,517. 1,115 (806) 309. Unit-linked life Gross inflows & switches Redemptions Net inflows. 273 (115) 158. 366 (131) 235. 361 (126) 235. 354 (152) 202. 1,354 (524) 830. 130 (150) (20). Non-linked business Gross inflows & switches Redemptions Net inflows. 381 (91) 290. 437 (100) 337. 548 (103) 445. 512 (116) 396. 1,878 (410) 1,468. 556 (118) 438. With profits Gross inflows & switches Redemptions Net inflows. 7 (307) (300). 76 (315) (239). 26 (269) (243). (26) (257) (283). 83 (1,148) (1,065). (21) (199) (220). 528. 905. 872. 445. 2,750. 507. Total cash flow. Financial supplement. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 49. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. GBP.
(50) AEGON UNITED KINGDOM OVER / (UNDER) PERFORMANCE OF FAIR VALUE ITEMS. UNAUDITED amounts in millions. GBP First Quarter. Underlying earnings before tax Over / (under) performance of fair value items Operating earnings before tax. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. 34 0 34. 38 0 38. 28 0 28. 13 (15) (2). 113 (15) 98. 7 (3) 4. Operating earnings impact of certain fair value items Pensions and asset management Total operating earnings impact of certain fair value items. 0 0. 0 0. 0 0. (14) (14). (14) (14). (2) (2). Over / (under) performance of certain fair value items by line of business Pensions and asset management Total over / (under) performance of certain fair value items. 0 0. 0 0. 0 0. (15) (15). (15) (15). (3) (3). Financial supplement. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 50. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. GBP.
(51) Financial supplement. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Page 51.
(52) OTHER COUNTRIES Reporting structure. Other countries. LIFE & PROTECTION. INDIVIDUAL SAVINGS & RETIREMENT PRODUCTS. LIFE. SAVINGS PRODUCTS. DISTRIBUTION. GENERAL INSURANCE. ACCIDENT & HEALTH. Financial supplement. Page 52. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. PENSIONS & ASSET MANAGEMENT.
(53) OTHER COUNTRIES EARNINGS. UNAUDITED amounts in millions EUR. EUR. First quarter. Second quarter. 2008 Third quarter. Fourth quarter. Full year. First quarter. Second quarter. 2009 Third quarter. Fourth quarter. Full year. Underlying earnings before tax by line of business Life and protection Life Accident and health Individual savings and retirement products Variable annuities Saving products Mutual funds. 17 2. 6 1. 29 1. (41) 1. 11 5. 7 1. 1 0 1. (2) 1 4. 0 (1) 5. 0 0 3. (1) 0 13. 0 1 4. Pensions and asset management. 3. 3. 4. 2. 12. 5. General insurance. 7. 11. 7. 12. 37. 8. Share in net results of associates. 8. 5. (3). 6. 16. 4. Underlying earnings before tax. 39. 29. 42. (17). 93. 30. Net underlying earnings. 27. 17. 30. (10). 64. 9. 17 2. 6 1. 29 1. (41) 1. 11 5. 7 1. 1 0 1. (2) 1 4. 0 (1) 5. 0 0 3. (1) 0 13. 1 1 4. Life and protection Life Accident and health Individual savings and retirement products Variable annuities Saving products Mutual funds Pensions and asset management. 3. 3. 4. 2. 12. 5. General insurance. 7. 11. 7. 12. 37. 8. Share in net results of associates. 8. 5. (3). 6. 16. 4. Operating earnings before tax. 39. 29. 42. (17). 93. 31. Net operating earnings. 27. 17. 30. (10). 64. 10. Life insurance gross premiums Accident and health insurance General insurance Total gross premiums. 383 29 39 451. 451 14 38 503. 353 17 43 413. 450 14 39 503. 1,637 74 159 1,870. 340 29 37 406. Investment income Fee and commission income Other revenues Total revenues. 61 21 0 533. 65 30 1 599. 77 33 1 524. 79 26 0 608. 282 110 2 2,264. 77 28 1 512. Revenues. Financial supplement. Page 53. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Operating earnings before tax by line of business.
(54) OTHER COUNTRIES INVESTMENTS GENERAL ACCOUNT. UNAUDITED. Cash / Treasuries / Agencies IG corporates High yield corporate Corporate other Emerging markets debt Commercial MBS Residential MBS Non-housing related ABS Housing-related ABS CDOs Subtotal. 3,013 1,751 20 79 0 0 216 0 58 11 5,148. Residential mortgages loans Commercial mortgages loans Total mortgages. 250 0 250. Convertible bonds & preferred stock Common equity & bond funds Private equity & hedge funds Total equity like. 28 180 25 233. Real estate Other Investments general account (excluding policy loans). 0 62 5,693. Policy loans Investments general account. 337 6,030. OTHER COUNTRIES INVESTMENTS GENERAL ACCOUNT EUR March 31, 2009. Structered assets by rating Commercial MBS Residential MBS Non-housing related ABS Housing-related ABS CDOs Total Credits by rating IG corporates High yield corporate Emerging markets debt Corporate other Total Cash / Treasuries / Agencies Total. Financial supplement. AAA. AA. A. BBB. <BBB. 0 65 0 36 0 101. 0 0 0 16 3 19. 0 151 0 6 4 161. 0 0 0 0 2 2. 0 0 0 0 2 2. 56 0 0 0 56. 391 12 0 0 403. 1,151 0 0 15 1,166. 143 0 0 16 159. 10 8 0 0 18. NR. Total 0 216 0 58 11 285. 0 0 0 48 48. 1,751 20 0 79 1,850 3,013 5,148. Page 54. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. amounts in millions EUR March 31, 2009.
(55) OTHER COUNTRIES OVER / (UNDER) PERFORMANCE OF FAIR VALUE ITEMS. UNAUDITED amounts in millions. EUR First Quarter. Underlying earnings before tax Over / (under) performance of fair value items Operating earnings before tax. Second Quarter. 2008 Third Quarter. Fourth Quarter. Full Year. First Quarter. 39 0 39. 29 0 29. 42 0 42. (17) 0 (17). 93 0 93. 30 1 31. Operating earnings impact of certain fair value items Individual savings and retirement products Variable annuities Total operating earnings impact of certain fair value items. 0 0. 0 0. 0 0. 0 0. 0 0. 1 1. Over / (under) performance of certain fair value items by line of business Individual savings and retirement products Variable annuities Total over / (under) performance of certain fair value items. 0 0. 0 0. 0 0. 0 0. 0 0. 1 1. Financial supplement. Second Quarter. 2009 Third Quarter. Fourth Quarter. Full Year. Page 55. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. EUR.
(56) OTHER CORPORATE INFORMATION PUBLIC RATINGS. Company public ratings as of May 13, 2009. Standard & Poor's1). Fitch ratings2). Moody's Investor Service3). A.M. Best. AEGON USA. AA-. AA. A1. A. AEGON The Netherlands. AA-. -. -. -. AEGON Scottish Equitable. AA-. -. -. -. A-. A. A3. -. BBB. BBB+. Baa1. -. A2. F1. P2. -. Financial strength ratings. AEGON N.V. - Senior debt rating AEGON N.V. - Junior Perpetual Capital Securities (JPCS) AEGON N.V. - Commercial paper 1). The outlook for the Standard & Poor's long-term ratings is negative. The outlook for the Fitch Financial Strength and Issuer Default ratings is negative. The JPCS were placed on Rating Watch Negative. 3) The outlook for the Moody's long-term ratings is negative. 2). Financial supplement. Page 56. WorldReginfo - 57789879-7f0b-4bf2-b82d-b111a783819b. Credit ratings.
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