Transform Tomorrow - Aegon
Transform Tomorrow - Aegon Transform Tomorrow - Aegon
Aegon to cancel all preferred shares• Agreement with Vereniging Aegon to cancel all preferred shares►►►Simplified capital structure and improved quality of capitalHigh-quality capital base under new European regulatory solvency requirementsVereniging Aegon to substantially reduce its debt• All preferred shares (book value of EUR 2.1 billion) to be exchanged at fair value of EUR 1.1 billion►Vereniging Aegon to receive EUR 400 million from Aegon in cash and the equivalent of EUR 655 millionin common shares in addition to a total of EUR 83 million of dividends on the preferred shares• Vereniging Aegon agreed to give up its economic preferential status• Impact on EPS limited to 3% as increase in number of common shares by 7% is partly offsetby ending preferred dividend paymentsBalanced outcome for all stakeholders16
Balanced outcome for all stakeholdersCommonshareholders&bondholders• Exchange of preferred shares leads to simplified and improved capital structure• Improved interest cover for Aegon as payment of preferred dividend will end• Limited dilutive effect for common shareholders• No economic preferential status for a single shareholder• Voting rights of Vereniging Aegon reduced and brought in line with economic ownership• Long-term commitment from Vereniging Aegon reaffirmedRegulatory• New structure allows hybrid capital to be classified as Tier 1 under new solvency rules• Improved interest cover for Aegon as payment of preferred dividend will endVerenigingAegon• Substantial reduction of outstanding debt• Vereniging Aegon maintains substantial common share position in Aegon• Retention special cause voting rights through creation of new class of shares, commonshares B17
- Page 1 and 2: Transform TomorrowLondon, 21 March
- Page 3 and 4: Execute on strategic transformation
- Page 5: Our products and services have neve
- Page 8: Successfully growing our fee-based
- Page 12 and 13: Capture growth in Protection and Ac
- Page 14 and 15: Realizing ambition to become a lead
- Page 18 and 19: All preferred shares exchanged for
- Page 20 and 21: Impact on Aegon’s financial metri
- Page 22 and 23: Vereniging Aegon agreed to give up
- Page 24 and 25: Continued delivery of strong result
- Page 26 and 27: Net income benefits from investment
- Page 28 and 29: Sales increase demonstrates strengt
- Page 30 and 31: Successful repositioning of Spanish
- Page 32 and 33: Strong operational free cash flows
- Page 34 and 35: Upcoming eventsMarchMayJuneAugustAn
- Page 36 and 37: Focus on delivering on targetsAchie
- Page 38 and 39: Limited exposure in general account
- Page 40 and 41: Gross deposits increases in asset m
- Page 42 and 43: Higher underlying earnings• Ameri
- Page 44 and 45: The Netherlands• Underlying earni
- Page 46 and 47: New Markets• Underlying earnings
- Page 48 and 49: Capital allocated to run-off busine
- Page 50 and 51: Investments general accountAegonINV
- Page 52 and 53: Credit losses in the US trending do
- Page 54 and 55: For questions please contact Invest
Balanced outcome for all stakeholdersCommonshareholders&bondholders• Exchange of preferred shares leads to simplified and improved capital structure• Improved interest cover for <strong>Aegon</strong> as payment of preferred dividend will end• Limited dilutive effect for common shareholders• No economic preferential status for a single shareholder• Voting rights of Vereniging <strong>Aegon</strong> reduced and brought in line with economic ownership• Long-term commitment from Vereniging <strong>Aegon</strong> reaffirmedRegulatory• New structure allows hybrid capital to be classified as Tier 1 under new solvency rules• Improved interest cover for <strong>Aegon</strong> as payment of preferred dividend will endVereniging<strong>Aegon</strong>• Substantial reduction of outstanding debt• Vereniging <strong>Aegon</strong> maintains substantial common share position in <strong>Aegon</strong>• Retention special cause voting rights through creation of new class of shares, commonshares B17
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