Aegon N.V. (styled as AEGON) is an multinational life insurance, pensions and asset management company headquartered in The Hague, Netherlands. At the end of 2011, Aegon companies employed about 25,000 people worldwide, serving approximately 47 million customers.
History
Aegon was founded in 1983 from the merger of AGO Holding N.V. (created by the merger of three companies in 1968) and Ennia N.V. (formed by the merger of three companies in 1969).
Aegon acquired Scottish Equitable in 1994. In 1998 it formed Stonebridge International Insurance Ltd to create and market a range of personal insurance products, providing accident, health and unemployment cover to its own customers and via business partners.
In 1999 it acquired the life assurance business of Guardian Royal Exchange. That year it also bought Transamerica Corporation.
Aegon was founded in 1983 from the merger of AGO Holding N.V. (created by the merger of three companies in 1968) and Ennia N.V. (formed by the merger of three companies in 1969).
Aegon acquired Scottish Equitable in 1994. In 1998 it formed Stonebridge International Insurance Ltd to create and market a range of personal insurance products, providing accident, health and unemployment cover to its own customers and via business partners.
In 1999 it acquired the life assurance business of Guardian Royal Exchange. That year it also bought Transamerica Corporation.
On August 13, 2007, Aegon and Merrill Lynch announced a strategic business partnership in the areas of life insurance and investment products. As part of the relationship, Aegon acquired two of Merrill Lynch's life insurance companies for US$1.3 billion.
On April 23, 2008, Alex Wynaendts succeeded the retiring Donald J. Shepard as Chairman of the Executive Board and CEO of Aegon N.V. following the Group's Annual General Meeting of Shareholders: Donald Shepard announced his retirement in November 2007, after six years as Chairman.
On October 28, 2008, the Dutch government and De Nederlandsche Bank agreed to give Aegon a €3 billion capital injection to create a capital buffer in exchange for convertible bonds to ease the group through the financial crisis.[6] On June 15, 2011, Aegon fulfilled its key objective of repurchasing all of the EUR 3 billion core capital securities issued to the Dutch State. The total amount Aegon has paid to the Dutch State amounts to EUR 4.1 billion. Of this amount, EUR 3 billion covered the original issue of core capital securities, while an additional EUR 1.1 billion was paid in premium and interest.
On August 3, 2011, Aegon USA announced that all its various businesses will be grouped under a single brand name: Transamerica. Transamerica’s key businesses are life insurance, investments and retirement. The group includes companies whose history goes back over 100 years and whose products and services have become well-known throughout the USA, including founding companies Life Investors Insurance Company of America and Monumental Life Insurance Company.
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