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Content Introduction. Positioning AEGON. AEGON Strong Presence in CEE. 1992 2003 2005 2005 2007 2008. Hungary Slovakia Czech Republic Poland Romania Turkey. AEGON in Hungary - market leader position. AEGON ranked 2nd in the mandatory and 3rd in the voluntary pension fund market - PowerPoint PPT Presentation
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Local knowledge. Global power. 1
Local knowledge. Global power. 2
Content Introduction
Local knowledge. Global power. 3
Positioning AEGON
Local knowledge. Global power. 4
AEGON Strong Presence in CEE
1992
2003
2005
2005
2007
2008
Hungary
Slovakia
Czech Republic
Poland
Romania
Turkey
Local knowledge. Global power. 5
Growth of members (2002-2009) Growth of AuM (2002-2009)
AEGON’s AuM grew much faster (7 times) than the market's (4.5 times)
AEGON’s member base grew much faster (2 times) than the market's (1.2 times)
AEGON in Hungary - market leader position
• AEGON ranked 2nd in the mandatory and 3rd in the voluntary pension fund market• 803 THS members, combined assets of EUR 2.2 billion
7X7X
0100200300400500600700800900
2002 2003 2004 2005 2006 2007 2008 2009
2X2X
0
100
200
300
400
500
600
700
2002 2003 2004 2005 2006 2007 2008 2009
Local knowledge. Global power. 6
AEGON in Hungary - growing business
16%16% 20%20%
AEGON’s market share - members (2002-2009)
16%
20%
10%
20%
2002 2003 2004 2005 2006 2007 2008 2009
• 3 million MPT members • EUR 9.3 billion assets
Local knowledge. Global power. 7
Targeted Sales and Marketing Strategy
Local knowledge. Global power. 8
Recent trends
Local knowledge. Global power. 9
Part I: What happened during the crisis?
Local knowledge. Global power. 10
Part I: Much ado about nothing
Investment returns almost recover
AEGON’s performance (growth portfolio)
AEGON’s performance (growth portfolio)
-17%
23%
2%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
2008
2009
NET
Local knowledge. Global power. 11
52 years old and older could return to PAYG
Time limit: December 31st 2009
Market: 69,000 members – 428 bill. EUR
AEGON: 14,000 members
Part I: Return to Pay As You Go
Local knowledge. Global power. 12
Part II: Falling Assets and PF Income
Local knowledge. Global power. 13
Part III: Unfavorable legislation: Lower PF Income
Local knowledge. Global power. 14
Part IV: The Transfer Market Sped Up
Local knowledge. Global power. 15
Part III: The numbers tell it all…
2,213
2,5112,655
2,7882,955 3,019
27 54 103 163 219
2,304 2,403
31 40 42
2002 2003 2004 2005 2006 2007 2008 2009
tho
us.
mem
ber
s
Market Transfers
o Almost 220,000 switching members in 2009o The ratio of transfers reached 7% in 2009o 8% is criticalo Brokers dictate conditionso Lower value entrants
Lapse Rate(2007-2009)
4X4X
Commission (2002-2009)
3X3X
7%
Local knowledge. Global power. 16
Part III: Protection and Regulation of AEGON
Local knowledge. Global power. 17
Part III: Governmental response – Transfer Limitations
Local knowledge. Global power. 18
Summary
Local knowledge. Global power. 19
Long Term stability in conditions