The story
Aegon was founded in 1983 from the merger of AGO Holding N.V. (created by the merger of Algemeene Friesche, Groot-Noordhollandsche and Olveh (Onderlinge Verzekeringsmaatschappij Eigen Hulp) in 1968) and Ennia N.V. (formed by the merger of Eerste Nederlandsche and Nillmij (Nederlandsch-Indische Levensverzekering- en Lijfrente-Maatschappij) 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 due to the effects of the 2008 financial crisis. On June 15, 2011, Aegon fulfilled its key objective of repurchasing all of the €3 billion core capital securities issued to the Dutch state. The total amount Aegon has paid to the Dutch state amounts to €4.1 billion. Of this amount, €3 billion covered the original issue of core capital securities, while an additional €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 US, including founding companies Life Investors Insurance Company of America and Monumental Life Insurance Company.
In June 2018, AEGON was criticized by Greenpeace for its investments in oil sand companies and pipelines. Aegon reacted by stating that it was developing a new policy with regards to the oil and gas sector. In 2019, they decided to discontinue their oil sand investments.
Read the full text
On May 15, 2020, Lard Friese (former CEO of NN Group) succeeded Alex Wynaendts as the CEO of Aegon N.V..
In April 2026, Aegon agreed to sell their UK business to Standard Life in a deal worth £2 billion to shift their focus towards the US market. Standard Life will pay £750 million in cash as well as issuing shares, giving Aegon a 15.3% stake in the group.
From Wikipedia’s article on Aegon, shared under CC BY-SA 4.0.8