www.aegon.com/annualreport_01
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In a complex world its good to sometimes focus
on what really makes our business tick and
thats working every day to create better futures
for our customers and their families.
creating better futures
2001ANNUAL REPORT
Reference is made to page 36 for further details on financial highlights.
Life insurance
Accident& health insurance
General insurance
Banking activities
Other activities
Interestcharges& other
Income before tax by activity in EUR million
4,000
2,500
3,000
3,500
1,000
500
2,000
1,500
50091 92 93 94 95 96 97 98 99 00 01
0
91 92 93 94 95 96 97 98 99 00 01
Income before tax geographically in EUR millionAmericas
The Netherlands
United Kingdom
Other countries
Interest charges& other
4,000
2,000
2,500
3,000
3,500
0
500
1,500
500
1,000
1.00
0.80
0.60
0.40
0.20
091 92 93 94 95 96 97 98 99 00 01
Dividend per share in EUR
2.00
1.00
1.50
0.50
0 91 92 93 94 95 96 97 98 99 00 01
Net income per share in EUR
300
100
150
200
250
91 92 93 94 95 96 97 98 99 00 01
Total assets in EUR million
50
0
2,500
1,500
2,000
500
1,000
91 92 93 94 95 96 97 98 99 00 01
Net income in EUR million
0
AEGON at a glance
NUMBER OF EMPLOYEES 15,011
MAIN OFFICES BALTIMORE AND CEDAR RAPIDS
MAIN PRODUCT AREAS
Traditional, universal and variable universal life insurance, fixedand variable annuities, life reinsurance, supplemental healthinsurance, traditional and synthetic GICs, funding agreements,pensions and 401K plans, bank- and corporate-owned lifeinsurance, mutual funds
MAJOR CUSTOMER SEGMENTS
Middle and upper income individuals, businesses and institutions
DISTRIBUTION CHANNELS
Independent and employee agents, marketing companies,financial institutions, brokers/dealers, wirehouses, affinitygroups, direct response, worksite marketing, institutional clients
Key competitive strengths Market leader in nearly every business segment Products distributed through diverse, broad-based channels
of distribution. Broad product offerings; balanced mix of businesses Efficient, targeted product development, coupled with
advanced actuarial and administrative systems Strong financial position, highly rated companies Decentralized decision-making, supported by streamlined, low
cost operations
Key priorities for 2002 Realize operational synergies through increased co-operation,
more effective use of IT combined with cost control Identify new markets and opportunities Build on established market leadership positions Improve alignment of back-office operations
MAJOR CUSTOMER SEGMENTS
Middle and upper income individuals, businesses
DISTRIBUTION CHANNELS
Independent intermediaries, tied agents, direct marketing,franchise sales force, worksite marketing, internet, joint ventures
Key competitive strengths Full line insurer profitably serving virtually every market segment Business units with their own products, brand names and
distribution channels Strong relationships with leading professional intermediaries,
the key distribution channel Excellent cost and margin control
Key priorities for 2002 Consolidate activities on production platforms to achieve cost
leadership and improved customer service Expand the product line with emphasis on savings, specialized
insurance and pension products Standardize and utilize IT and on-line services to extend and
develop the distribution network and to support theprofessional intermediary
Further strengthening of relationships with professionalindependent intermediaries, e.g. via internettechnology
NUMBER OF EMPLOYEES 744
MAIN OFFICE TORONTO
MAIN PRODUCT AREAS
Traditional, universal and term life insurance, segregated funds,annuities and professional portfolio management
MAJOR CUSTOMER SEGMENTS
Middle and upper income individuals, pension customersegments
DISTRIBUTION CHANNELS
Independent advisors, employee agents, brokers, financialinstitutions, Money Concepts franchises
Key competitive strengths A market leader in the sale of individual life insurance and
segregated funds; broad product portfolio Strong management philosophy Largest network of independent advisors across Canada Team approach and commitment to service Efficient development and targeted marketing of financial
services products
Key priorities for 2002 Strengthen distribution partnerships Further develop strategic alliance partner markets Continued development of innovative life insurance and
segregated fund products and the development of aninstitutional client base
Further develop a diversified multi-brand strategy
14 3
5
6
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USA1
Key markets Executive Board and staff departments AEGON N.V.
CANADA www.transamerica.ca2
THE NETHERLANDS www.aegon .n l3
NUMBER OF EMPLOYEES 4,646
MAIN OFFICE EDINBURGH
MAIN PRODUCT AREAS
Individual and group pension and life products, assetmanagement, mutual funds, third party pension schemeadministration
MAJOR CUSTOMER SEGMENTS
Middle and upper income individuals and businesses
DISTRIBUTION CHANNELS
Independent intermediaries
Key competitive strengths Financial strength to compete at the forefront of the financial
services industry Long-term investment performance Experienced provider with a quality image Flexible structure to maximize new business opportunities
Key priorities for 2002 Take full advantage of growth opportunities Full integration of IT-systems to improve efficiency and
accessibility of services and to reduce expenses Continue to take advantage of flight to quality in UK market Develop institutional investment business, particularly fixed
interest mandates
NUMBER OF EMPLOYEES 741
MAIN OFFICE BUDAPEST
MAIN PRODUCT AREAS
Life, pension and household insurance, asset management
MAJOR CUSTOMER SEGMENTS
Middle and upper income individuals
DISTRIBUTION CHANNELS
Independent intermediaries, tied agents, pension advisors,direct and worksite marketing
Key competitive strengths Range of distribution channels Targeted product development Excellent cost control
Key priorities for 2002 Emphasis on profitability, while retaining sales leadership Introduction of new sales channels Update and renew IT and internet access Investigate growth opportunities elsewhere in the region
NUMBER OF EMPLOYEES 745
MAIN OFFICE MADRID
MAIN PRODUCT AREAS
Life, general and health insurance
MAJOR CUSTOMER SEGMENTS
Middle income professionals in urban locations
DISTRIBUTION CHANNELS
Independent intermediaries, agents, brokers, internet, financialinstitutions
Key competitive strengths Broad product range, innovative organization Professional sales network
Key priorities for 2002 Expansion life activities Improve process efficiency through training and better
customer risk profiling for agents
UNITED KINGDOM www.aegon .co.uk4
HUNGARY www.aegon .hu5
SPAIN www.aegon .es6
RESPECT PEOPLE, MAKE MONEY, HAVE FUN
Kees J. Storm started his career at one of AEGONspredecessors in 1978 as a member of the Executive Board. Afterthe merger of AGO and ENNIA he was responsible for theinsurance activities of AEGON USA, the Netherlands and Europe(excluding the Netherlands). In May 1993 he became Chairmanof the Executive Board of AEGON N.V. He will retire on 1 July2002 and on 18 April 2002 Don Shepard will take over aschairman of the Executive Board of AEGON N.V.
Corporate Actuarial Group Business Group Communications Group Finance & Group Legal Ad A.M. Kok Development Gerard van Dongen Information Erik Lagendijk
Alexander R. Wynaendts Ruurd A. van den Berg
Group Tax Group Treasury Group Treasury Company Secretary Adri D.J. Verzijl C. Michiel van Katwijk Investor Relations Peter Tuit
Robert J. McGraw
The Executive Board from left to right:Kees J. Storm, Donald J. Shepard, Paul van de Geijn, Joseph B.M. Streppel
The eight Group Staff departments have specific areas of attention, defined by the Executive Board.They work for the whole Executive Board and, if so requested, for individual members. Each Head of a GroupStaff department formally reports to an individual member of the Executive Board. AEGONs Group Staffconsists of some 100 people of different nationalities and is based in The Hague, the Netherlands.
Paul van de Geijn started his career at one of AEGONspredecessors in 1971 at the legal department. In 1984 hebecame Vice-President and in 1986 CEO of AEGON TheNetherlands. In 1992 he joined the Executive Board ofAEGON N.V.
Donald J. Shepard began his career with Life Investors in 1970.Serving in various management and executive functions withLife Investors, he became Executive Vice-President and ChiefOperating Officer in 1985, a position he held until AEGONconsolidated its other US operations with Life Investors to formAEGON USA in 1989. He became a member of the ExecutiveBoard in 1992 and he is also Chairman, President and CEO ofAEGON Americas. On 18 April 2002 he will become the newchairman of AEGON N.V.
Joseph B.M. Streppel started his career in 1973 at one ofAE
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