About us Sustainability Investors Newsroom Careers } else { } Our strategy Aegon Corporate About us What we do Our strategy It all starts with our purpose. Aegon is a diversified financial services group that focuses on helping people achieve a lifetime of financial security. We will do so now and in the future by building a leader in investment, protection, and retirement solutions. We are highly attuned to the needs of a world where lifespans are increasing and careers and retirement are lengthening and becoming more flexible. Although healthcare is becoming more effective, it is also becoming expensive as public and corporate sources of lifelong pension and care are transferring risk to individuals in the face of financial pressure. Focused portfolio and capital management During Capital Markets Day in December 2020, we announced Aegon's new strategy and financial targets. With this new strategy we are taking important steps to transform our organization, change our performance trajectory and increase value for our customers, shareholders, and other stakeholders. As part of our new direction, we are narrowing our strategic focus to selected core and growth markets. We will focus on our three core markets (the United States, the Netherlands, and the United Kingdom), three growth markets (Spain & Portugal, China and Brazil), and one global asset manager. CORE MARKETS GROWTH MARKETS ASSET MANAGEMENT The United States The United Kingdom The Netherlands Spain & Portugal China Brazil One global asset manager Leading in investment, protection and retirement solutions Our core markets are among the largest retirement, investment and protection markets in the world, and we can play a leading role in them and our asset manager will be a key enabler for success. We have growing businesses in large and under penetrated growth markets, in which we operate with strong local partners. We will explore opportunities for expanding our positions in our core and growth markets. This could involve capitalizing on local growth opportunities, building strong local partnerships, and pursuing promising sales and distribution channels. Aegon Asset Management has moved to a single global operation. This allows us to capitalize on economies of scale, maximize synergies, and grow our third-party assets. In small markets or markets where we have sub-scale or niche positions, we will manage capital tightly and have a bias to exit. The planned sale of our Central & Eastern European businesses exemplifies the actions we are taking to increase our focus. Reallocating capital Alongside the geographical refocus of our operations, we have split our portfolio in the core markets in strategic assets and financial assets. Our strategy is to reallocate capital from our financial assets to our strategic assets. Strategic assets Strategic assets are businesses with a greater potential for an attractive return on capital, where we are well positioned for growth. We will invest in these businesses so that profits and valuation multiples improve over time and their relevance markedly increases for Aegon. Our Strategic assets in the United States, for instance, include Workplace Solutions and select life, health, and investment and annuity products that are part of Individual Solutions. Financial assets Financial Assets are blocks of business which we have closed for new sales, and which are capital intensive with relatively low returns on capital employed, often due to the low interest rate environment. We will run these businesses for optimal financial outcomes maximizing net present value and seek opportunities to reduce and release capital. For example, in the Netherlands, we will no longer offer new defined-benefit group pension products and individual life products, with the exception of direct annuities. Ambitious financial targets 2021 – 2023 A strong and resilient balance sheet is the foundation of our ambition to deliver attractive and sustainable returns to our shareholders. We have therefore set out the following financial targets for 2021-2023: Reduce gross financial leverage to EUR 5.0 – 5.5 billion Implement expense savings program of EUR 400 million by 2023 compared with 2019 baseline Deliver cumulative free cash flows of EUR 1.4 to 1.6 billion Grow dividend per share to around EUR 0.25 over 2023 Value drivers We have identified priority areas of focus that will contribute to the profitable growth and further strengthening of our business over the coming years. Growing our customer base Enhanced customer experiences Improving margins We are transforming Aegon to benefit all our stakeholders. To support the actions, we will continue to build a high-performance culture, invest in talent development, and continually strive to Focus. Execute and Deliver. Sustainability We believe that sustainable business creates positive financial, social and environmental results that serve all stakeholders for the long-term. Find out more Our businesses Aegon has businesses in Europe, Asia and the Americas offering products and services in the life insurance, pension, retirement and asset management fields. Find out more What we do Our strategy Our businesses Sustainability Our response to COVID-19 Capital Markets Day Read the press release Download the presentation Watch the playback Related news Aegon to sell its Central and Eastern European business to VIG Aegon Asset Management moves to single global brand About us Governance Our businesses Contact Aegon Investors Financial results Analyst consensus Shareholders Dividends Financial calendar Newsroom News and updates Press releases Annual reports Sustainability Responsible investment Corporate citizenship Document library Careers Vacancy search Global careers Privacy Statement Cookie Statement Accessibility Disclaimer General terms and conditions Aegon 2021 We use cookies to make sure that our website works correctly and that you have the best experience possible. Cookies provide us important website use information. 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