Transform Tomorrow - Aegon

More documents

Recommendations

Info

Focus on delivering on targetsAchieve return on equity of10-12%by 2015Grow underlying earningsbefore tax by7-10%Double fee-based earnings to30-35%on average per annumbetween 2010 and 2015 of underlying earnings by 2015Increase annual normalizedoperational free cash flow to€ 1.3-1.6billionby 2015Return on equityUnderlying earnings before taxFee-based earningsOperational free cash flow*7.1%(8% excludingrun-off capital)-1%33%€ 1.6billionFY 20122010 – 2012 CAGRof 2012 underlying earningsFY 201236See slide 37 for main economic assumptions embedded in targets* Excluding market impact
Main economic assumptionsMain US economic assumptions*• 10-year US Treasury assumption of 4.75% by 2017►Grading to 4.75% in five years• Credit spreads are assumed to grade over two years to 110 bps• Bond funds are assumed to return 4% for 5 years and 6% thereafter• Money market rates are assumed to remain flat at 0.1% for two years followed by a 3-yeargrading to 3%• Annual gross equity market returns of 9% (price appreciation + dividends) – Q3 2012 base2017 Assumptions NL UK10-year interest rate 4.5% 5.6%3-month interest rate 2.5% 4.5%Annual gross equity market return (Q3 2012 base)(price appreciation + dividends)9% 9%EUR/USD rate of 1.35EUR/GBP rate of 0.8237* As provided per Q3 2012
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 16 and 17: Aegon to cancel all preferred share
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 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

Transform Tomorrow - Aegon

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?