Market Overview

Aegon publishes 2017 Annual Report and Review


Aegon N.V. today released both its 2017 Annual Report and Review, and
will file its Annual Report on Form 20-F with the United States
Securities and Exchange Commission (SEC).

The theme of this year's Review ‘Future Fit' is not only the name of
Aegon's cultural transformation program, but also a reflection of the
fast-changing environment in which Aegon operates and how the company is
adapting by utilizing new technologies.

The Review highlights five material topics affecting Aegon's business –
aging and changing demographics, the impact of new technologies,
increased regulation, low interest rates and economic and financial
uncertainty – and includes interviews with Aegon's CEO and the Chairman
of the Supervisory Board.

In his interview, CEO Alex Wynaendts addresses Aegon's wider
contribution to society, how the company creates value for all
stakeholders, and the ways in which the company is transforming; whereas
Chairman Rob Routs explains the tasks the Supervisory Board performs,
its relationship with management, and looks back on his tenure as

Digital copies of Aegon's 2017 Annual Report, 2017 Annual Report on Form
20-F, and 2017 Review are available on
A hard copy of the Annual Report, including the audited financial
statements, can be ordered free of charge by visiting
Other documents relating to Aegon's Annual General Meeting of
Shareholders on May 18, 2018, including the agenda, will be available
online from April 6, 2018.

About Aegon

Aegon's roots go back more than 170 years – to the first half of the
nineteenth century. Since then, Aegon has grown into an international
company, with businesses in more than 20 countries in the Americas,
Europe and Asia. Today, Aegon is one of the world's leading financial
services organizations, providing life insurance, pensions and asset
management. Aegon's purpose is to help people achieve a lifetime of
financial security. More information on

For the Editor







Forward-looking statements

The statements contained in this document that are not historical facts
are forward-looking statements as defined in the US Private Securities
Litigation Reform Act of 1995. The following are words that identify
such forward-looking statements: aim, believe, estimate, target, intend,
may, expect, anticipate, predict, project, counting on, plan, continue,
want, forecast, goal, should, would, is confident, will, and similar
expressions as they relate to Aegon. These statements are not guarantees
of future performance and involve risks, uncertainties and assumptions
that are difficult to predict. Aegon undertakes no obligation to
publicly update or revise any forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which merely reflect company expectations at the time of
writing. Actual results may differ materially from expectations conveyed
in forward-looking statements due to changes caused by various risks and
uncertainties. Such risks and uncertainties include but are not limited
to the following:

  • Changes in general economic conditions, particularly in the United
    States, the Netherlands and the United Kingdom;
  • Changes in the performance of financial markets, including emerging
    markets, such as with regard to:
  • The frequency and severity of defaults by issuers in Aegon's fixed
    income investment portfolios;
  • The effects of corporate bankruptcies and/or accounting restatements
    on the financial markets and the resulting decline in the value of
    equity and debt securities Aegon holds; and
  • The effects of declining creditworthiness of certain public sector
    securities and the resulting decline in the value of government
    exposure that Aegon holds;
  • Changes in the performance of Aegon's investment portfolio and decline
    in ratings of Aegon's counterparties;
  • Consequences of a potential (partial) break-up of the euro;
  • Consequences of the anticipated exit of the United Kingdom from the
    European Union;
  • The frequency and severity of insured loss events;
  • Changes affecting longevity, mortality, morbidity, persistence and
    other factors that may impact the profitability of Aegon's insurance
  • Reinsurers to whom Aegon has ceded significant underwriting risks may
    fail to meet their obligations;
  • Changes affecting interest rate levels and continuing low or rapidly
    changing interest rate levels;
  • Changes affecting currency exchange rates, in particular the EUR/USD
    and EUR/GBP exchange rates;
  • Changes in the availability of, and costs associated with, liquidity
    sources such as bank and capital markets funding, as well as
    conditions in the credit markets in general such as changes in
    borrower and counterparty creditworthiness;
  • Increasing levels of competition in the United States, the
    Netherlands, the United Kingdom and emerging markets;
  • Changes in laws and regulations, particularly those affecting Aegon's
    operations' ability to hire and retain key personnel, taxation of
    Aegon companies, the products Aegon sells, and the attractiveness of
    certain products to its consumers;
  • Regulatory changes relating to the pensions, investment, and insurance
    industries in the jurisdictions in which Aegon operates;
  • Standard setting initiatives of supranational standard setting bodies
    such as the Financial Stability Board and the International
    Association of Insurance Supervisors or changes to such standards that
    may have an impact on regional (such as EU), national or US federal or
    state level financial regulation or the application thereof to Aegon,
    including the designation of Aegon by the Financial Stability Board as
    a Global Systemically Important Insurer (G-SII);
  • Changes in customer behavior and public opinion in general related to,
    among other things, the type of products Aegon sells, including legal,
    regulatory or commercial necessity to meet changing customer
  • Acts of God, acts of terrorism, acts of war and pandemics;
  • Changes in the policies of central banks and/or governments;
  • Lowering of one or more of Aegon's debt ratings issued by recognized
    rating organizations and the adverse impact such action may have on
    Aegon's ability to raise capital and on its liquidity and financial
  • Lowering of one or more of insurer financial strength ratings of
    Aegon's insurance subsidiaries and the adverse impact such action may
    have on the premium writings, policy retention, profitability and
    liquidity of its insurance subsidiaries;
  • The effect of the European Union's Solvency II requirements and other
    regulations in other jurisdictions affecting the capital Aegon is
    required to maintain;
  • Litigation or regulatory action that could require Aegon to pay
    significant damages or change the way Aegon does business;
  • As Aegon's operations support complex transactions and are highly
    dependent on the proper functioning of information technology, a
    computer system failure or security breach may disrupt Aegon's
    business, damage its reputation and adversely affect its results of
    operations, financial condition and cash flows;
  • Customer responsiveness to both new products and distribution channels;
  • Competitive, legal, regulatory, or tax changes that affect
    profitability, the distribution cost of or demand for Aegon's products;
  • Changes in accounting regulations and policies or a change by Aegon in
    applying such regulations and policies, voluntarily or otherwise,
    which may affect Aegon's reported results and shareholders' equity;
  • Aegon's projected results are highly sensitive to complex mathematical
    models of financial markets, mortality, longevity, and other dynamic
    systems subject to shocks and unpredictable volatility. Should
    assumptions to these models later prove incorrect, or should errors in
    those models escape the controls in place to detect them, future
    performance will vary from projected results;
  • The impact of acquisitions and divestitures, restructurings, product
    withdrawals and other unusual items, including Aegon's ability to
    integrate acquisitions and to obtain the anticipated results and
    synergies from acquisitions;
  • Catastrophic events, either manmade or by nature, could result in
    material losses and significantly interrupt Aegon's business;
  • Aegon's failure to achieve anticipated levels of earnings or
    operational efficiencies as well as other cost saving and excess cash
    and leverage ratio management initiatives; and
  • This press release contains information that qualifies, or may
    qualify, as inside information within the meaning of Article 7(1) of
    the EU Market Abuse Regulation (596/2014).

Further details of potential risks and uncertainties affecting Aegon are
described in its filings with the Netherlands Authority for the
Financial Markets and the US Securities and Exchange Commission,
including the Annual Report. These forward-looking statements speak only
as of the date of this document. Except as required by any applicable
law or regulation, Aegon expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in
Aegon's expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.

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