AEGON - Annual Report 2002
Annual report Historical data Dutch version
KEY FACTS BOARD REPORTS INSIGHT PERFORMANCE FINANCIAL SECTION
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AT A GLANCE AT A GLANCE
Choose a country: U.S.A. | Canada | Netherlands | United Kingdom | Hungary | Spain | Taiwan
GROUP PROFILE

AEGON N.V.IS THE HOLDING COMPANY OF ONE OF THE WORLD'S LARGEST LISTED INSURANCE GROUPS RANKED BY MARKET CAPITALIZATION AND ASSETS. THE AEGON GROUP HEADOFFICE IS IN THE NETHERLANDS AND EMPLOYS ABOUT 28,000 PEOPLE WORLDWIDE.

AEGON'S BUSINESSES FOCUS ON LIFE INSURANCE, PENSIONS, SAVINGS AND INVESTMENT PRODUCTS. THE GROUP IS ALSO ACTIVE IN ACCIDENT AND HEALTH INSURANCE, GENERAL INSURANCE, AND HAS LIMITED BANKING ACTIVITIES.

AEGON'S THREE MAJOR MARKETS ARE THE UNITED STATES,THE NETHERLANDS AND THE UNITED KINGDOM. IN ADDITION, THE GROUP IS PRESENT IN A NUMBER OF OTHER COUNTRIES INCLUDING CANADA, CHINA, HUNGARY, SPAIN AND TAIWAN.

AEGON'S BUSINESSES ENCOURAGE PRODUCT INNOVATION AND REWARD VALUE CREATION THROUGH A DECENTRALIZED ORGANIZATION AND ENDORSE A MULTI-BRAND AND MULTI-CHANNEL DISTRIBUTION APPROACH. NEW PRODUCTS AND SERVICE INITIATIVES ARE DEVELOPED BY LOCAL BUSINESS UNITS, WITH A CONTINUOUS FOCUS ON COST CONTROL, USING TAILORED DISTRIBUTION CHANNELS TO MEET CUSTOMERS’ NEEDS.

STRATEGY
COMMITMENT TO CORE BUSINESS
Insurance with a strong emphasis on life insurance, pensions, savings and investment products. AEGON focuses on the financial protection and asset accumulation needs of its clients.

DECENTRALIZED ORGANIZATION
Multi-domestic and multi-branded approach, giving a high degree of autonomy to the management of the individual country and business units, encouraging entrepreneurial spirit and action. AEGON requires local management to run local businesses.

EMPHASIS ON PROFITABILITY
Long-term average growth of net income of 10% per annum; the minimum return on investment is set to earn adequate returns well in excess of the cost of
capital on the pricing of new business and acquisitions. Divestments of non-core activities and underperformers and disciplined expense management are key to the achievement of these objectives.

MARKET POSITION
AEGON's objective is to achieve a leading position in each of its chosen markets in order to generate benefits of scale.

INTERNATIONAL EXPANSION
AEGON supplements its autonomous growth with selective acquisitions and partnerships, which are preferred in countries where AEGON already has a presence in order to build scale and enhance distribution.

FINANCIAL RELATIONS
AEGON values the many relationships with the global investment community and is committed to the highest standards of integrity and fair disclosure. The international business activities of the company are reflected in the geographical diversity of AEGON's investor base. To ensure efficient and effective access to the global capital markets, AEGON's common shares are listed on the stock exchanges in Amsterdam, Frankfurt, London, New York, Tokyo and Zurich. In addition, the company's stock is included in many major equity indices.

AEGON strives to continuously improve as an investor friendly company. In 2003, AEGON disclosed its embedded value analysis for the first time and provided more detail than most of the disclosure in the market. The analysis is used by the financial community to better understand AEGON's businesses and the value the company creates.The group also strengthened its financial communications by combining the investor relations and corporate communications departments. AEGON is focused on ensuring that both financial and non-financial information is disclosed accurately, completely, timely and in a consistent fashion.

AEGON is committed to ensuring investors receive an accurate portrait of the company's performance and prospects. To achieve this, AEGON has developed an active investor relations program that focuses on providing investors around the world with the information required to make sound investment decisions. This includes information on key factors that drive AEGON's businesses and influence its results, financial condition and value. AEGON actively maintains contact with the financial community through many mediums, including investor roadshows, webcasts, press releases and investor days, whilst ensuring equal access to information.

AEGON invites current shareholders, members of the financial community and potential investors to learn more about AEGON as an investment. Dedicated staff are available to answer questions and to maintain an open dialogue between AEGON and the financial community.

SHAREHOLDER BASE AEGON N.V. COMMON SHARES in percentage (estimated)

AEGON SHARE PRICE DEVELOPMENT VERSUS INDICES (rebased)

SHARE PRICE INFORMATION (IN EURO)
  2003 2002 2001 2000 1999
Price — high 13.47 29.23 42.37 46.44 53.34
Price — low 5.87 9.04 22.15 32.28 33.41
Price — year-end 11.73 11.79 29.23 42.37 46.11
Price/Earnings Ratio 11.30 11.35 17.27 28.06 37.46
Source: Bloomberg, Datastream

SHARE PRICE INFORMATION (IN USD)
  2003 2002 2001 2000 1999
Price — high 14.80 26.03 39.96 47.23 62.50
Price — low 6.46 8.87 20.96 30.88 34.68
Price — year-end 14.80 12.37 25.74 39.85 45.91
Source: Bloomberg
LISTINGS  
Amsterdam Euronext Amsterdam
Frankfurt Deutsche Börse
London London Stock Exchange
New York New York Stock Exchange
Tokyo Tokyo Stock Exchange
Zurich Swiss Exchange
Number of common shares (million) 12/31/2003 1,514.4
Free float of common shares* 12/31/2003 89%
Average daily trading volume 2003
in Amsterdam and New York (million common shares) 10.7
*Percentage of outstanding common shares not owned by Vereniging AEGON
Source: Bloomberg

NET INCOME in EUR million TOTAL ASSETS in EUR billion
 
NET INCOME PER SHARE in EUR DIVIDEND PER SHARE in EUR
 
INCOME BEFORE TAX BY ACTIVITY in EUR million INCOME BEFORE TAX GEOGRAPHICALLY in EUR million

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