AEGON LTD. — Interim / Quarterly Report 2011

Aug 11, 2011

Q2 2011 RESULTS AUGUST 11, 2011

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AEGON announces Q2 2011 net income of EUR 404 million

• Growth offset by unfavorable currency movements and anticipated exceptional charges

• Underlying earnings before tax of EUR 401 million; growth offset by unfavorable currency movements (EUR 44 million), higher provisioning for longevity in the Netherlands (EUR 23 million) and UK customer redress charges (EUR 14 million)

• Net income amounts to EUR 404 million, supported by realized gains on investments

• Return on equity of 8.0% in the first half year of 2011

• Continued strong sales in fee-based businesses in line with strategic focus

• Total sales[1] decline to EUR 1.3 billion, due mainly to unfavorable currency movements

• New life sales total EUR 431 million; declines in the Americas and the UK following repricing of products

• Gross deposits amount to EUR 6.7 billion, supported by strong variable annuity and pension deposits

• Strong capital position and healthy cash flows

• Excess capital of EUR 1 billion at the holding after full repurchase of core capital securities from Dutch State

• IGD solvency ratio of ~200% reflection of strong capitalization

• Capital base ratio of 73%; full repurchase of core capital securities partly offset by retained earnings

• Operational free cash flow of EUR 283 million

Statement of Alex Wynaendts, CEO

“During the second quarter, we made solid progress in delivering on AEGON’s key strategic priorities, not least of which was the completion of repayment to the Dutch State. The particularly strong sales of variable annuities and pension and retirement products in the United States are a result of the successful repositioning of our business toward more fee-generating income. Our pursuit of growth opportunities in AEGON’s new markets led to strong new life sales in Central & Eastern Europe, as well as expanded distribution in Spain, where we recently strengthened our life insurance and pension partnership with Unnim, a leading savings bank in the northeastern region of the country.

“The weakening of the US dollar had a notable impact on AEGON’s reported results. Net income was strong for the quarter, however, underlying earnings were negatively affected by anticipated exceptional items in the United Kingdom and the Netherlands.

“Clearly, the current economic environment poses considerable challenges. However, over the past years we have implemented measures to strengthen and protect AEGON’s balance sheet by reducing our exposure to equity and credit markets, as well as interest rate risks. At the same time, we are restructuring our businesses in our key markets. These actions, along with our very limited exposure to peripheral European countries, support our confidence in AEGON’s growth prospects going forward.”

KEY PERFORMANCE INDICATORS	KEY PERFORMANCE INDICATORS
_amounts in EUR millions_b) Notes Q2 2011 Q1 2011 % Q2 2010 %	YTD 2011 YTD 2010 %
Underlying earnings before tax 1 401 414 (3) 483 (17) Net income 2 404 327 24 413 (2) Sales 3 1,261 1,411 (11) 1,475 (15) Value of new business (VNB) 4 103 118 (13) 138 (25)	815 929 (12) 731 785 (7) 2,672 2,917 (8) 221 276 (20)
Return on equity 5 8.1% 7.8% 4 8.5% (5)	8.0% 8.4% (5)

For notes see page 22.

1 To reflect all of AEGON’s sales in one sales indicator, AEGON introduced a composite sales number consisting of new life sales, new premium production of both accident & health insurance and general insurance and 1/10 of gross deposits.

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STRATEGIC HIGHLIGHTS

• AEGON further detailed strategy and reiterated targets at Analyst & Investor Conference

• Repayment to Dutch State completed

• Divestment of Transamerica Reinsurance concluded

• Appointment of Jaime Kirkpatrick as CEO of AEGON Spain

Sustainable earnings growth with an improved risk-return profile

AEGON’s transformational process to deliver sustainable earnings growth with an improved riskreturn profile is on track with the completion of full repayment to the Dutch State in June. The company reiterated its targets[1] at its recent Analyst & Investor Conference in London:

• Grow underlying earnings before tax on average by 7%-10% per annum;

AEGON’s AMBITION

To be a leader in all our chosen markets by 2015

AEGON’s STRATEGIC OBJECTIVES

• Optimize portfolio

• Enhance customer loyalty

• o Deliver operational excellence o Empower employees

• Achieve a return on equity of 10%-12% by 2015;

• Increase fee businesses to 30%-35% of underlying earnings before tax by 2015; and

• Increase 2010 normalized operating free cash flow by 30% by 2015.

AEGON also announced its intention to achieve structural cost reductions in its established markets. In the Netherlands, a 20% reduction in operating expenses as compared to the 2009 base is targeted by the end of 2012. In the United Kingdom, AEGON is on track to reduce costs by 25% by the end of 2011. In the United States, AEGON aims to grow its life and protection business faster than the industry, while keeping operating expenses flat throughout the period until 2015.

AEGON’s ambition

AEGON’s ambition to be a leader in all of its chosen markets by 2015 is supported by four strategic objectives: Optimize Portfolio, Enhance Customer Loyalty, Deliver Operational Excellence and Empower Employees.

These key objectives have been embedded in all AEGON businesses and provide the strategic framework for the company’s ambition to become the most-recommended life insurance and pension provider by customers and distributors, as well as the most-preferred employer in the sector.

Optimize portfolio

In Spain, AEGON has finalized an agreement to expand its life and health insurance and pension partnership with Unnim. The agreement includes the acquisition of a 50% stake in the life insurance business of Caixa Sabadell, expanding into the network of Caixa Manlleu and strengthening of AEGON’s existing partnership with Caixa Terrassa. These three savings banks joined together earlier this year to form Unnim. The agreement gives AEGON the exclusive right to distribute its life insurance and pension products through Unnim’s network of 623 branches. Unnim is a leading savings bank in the northeastern part of Spain, with a significant presence and more than one million customers.

Also, AEGON has closed an agreement to jointly develop health insurance business with Caja Navarra, part of Banca Cívica.

AEGON continues to closely monitor the process of consolidation and restructuring in the financial sector in Spain.

AEGON has appointed Jaime Kirkpatrick to the role of CEO of AEGON Spain effective July 1, 2011. Mr. Kirkpatrick has played a key role in expanding AEGON’s presence across the Spanish market in his previous capacity of director of bancassurance for AEGON Spain.

1Main economic assumptions embedded in targets: annual gross equity market return of 9%, 10-year US interest rate of 5.25% in 2015 and EUR/USD rate of 1.35.

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On August 9, 2011, AEGON completed the divestment of its life reinsurance activities, Transamerica Reinsurance, to Scor. The total aftertax consideration amounted to USD 1.4 billion, consisting of cash proceeds of USD 0.9 billion from Scor and a further USD 0.5 billion of capital released. AEGON estimates that this transaction will have a positive impact on its IGD solvency ratio of approximately 13% in the third quarter of 2011.

Deliver operational excellence

In the Netherlands, AEGON has decided to combine its pension service centre with its corporate & institutional clients sales unit into one pension business with the aim of increasing efficiency, providing better service and strengthening AEGON’s leading position in the Dutch pension market. The new unit will serve three customer groups – small and medium sized enterprises, institutional clients and pension plan participants.

Enhance customer loyalty

In its aim to develop a stronger and more consistent brand portfolio globally, with shared purposes and core values, AEGON has sharpened its brand proposition in the United States. The company will bring together its North American retail businesses under one name, Transamerica. A new advertising campaign will be launched in September.

AEGON has also decided to rebrand its asset management activities in the United Kingdom as Kames Capital to enhance its distinctive investment propositions while supporting accelerated growth of the business.

AEGON has established a target to reduce the CO2 emissions of its offices by 10% by 2012. The goal is part of AEGON’s continuing efforts to manage all assets – including those that affect the environment – in a responsible way. In the long run, the changes that are implemented to meet the target will reduce costs as well as CO2 emissions. Setting a goal in this respect will also help the company meet the growing expectations of its stakeholders.

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FINANCIAL OVERVIEW~~c)~~	FINANCIAL OVERVIEW~~c)~~	FINANCIAL OVERVIEW~~c)~~
EUR millions Notes Q2 2011 Q1 2011 % Q2 2010 %			YTD 2011 YTD 2010 %
Underlying earnings before tax
Americas 325 347 (6) 398 (18) The Netherlands 74 81 (9) 97 (24) United Kingdom 10 12 (17) 22 (55) New markets 59 57 4 40 48 Holding and other (67) (83) 19 (74) 9 Underlying earnings before tax 401 414 (3) 483 (17) Fair value items (23) (85) 73 3 - Realized gains / (losses) on investments 204 91 124 148 38 Impairment charges (100) (62) (61) (77) (30) Other income / (charges) (16) (3) - (60) 73 Run-off businesses 10 22 (55) (10) - Income before tax 476 377 26 487 (2) Income tax (72) (50) (44) (74) 3 Net income 404 327 24 413 (2)			672 735 (9) 155 201 (23) 22 50 (56) 116 86 35 (150) (143) (5) 815 929 (12) (108) (13) - 295 274 8 (162) (227) 29 (19) (37) 49 32 (28) - 853 898 (5) (122) (113) (8) 731 785 (7)
Net income / (loss) attributable to: Equity holders of AEGON N.V. 403 Non-controlling interests 1 Net underlying earnings 339	327 23 413 (2) - - - - 333 2 350 (3)		730 784 (7) 1 1 - 672 695 (3)
Commissions and expenses 1,500 of which operatingexpenses 11 847	1,513 (1) 1,375 9 837 1 841 1		3,013 2,961 2 1,684 1,653 2
New life sales Life single premiums 1,189	1,726 (31) 1,922 (38)		2,915 3,841 (24)
Life recurring premiums annualized 312 Total recurring plus 1/10 single 431 New life sales Americas 12 104	328 (5) 362 (14) 501 (14) 554 (22) 113 (8) 131 (21)		640 673 (5) 932 1,057 (12) 217 241 (10)
The Netherlands 40 United Kingdom 217 New markets 12 70 Total recurring plus 1/10 single 431 New premium production accident and health insurance 145 Newpremiumproductiongeneral insurance 14	65 (38) 41 (2) 247 (12) 308 (30) 76 (8) 74 (5) 501 (14) 554 (22) 159 (9) 148 (2) 13 8 15 (7)		105 103 2 464 573 (19) 146 140 4 932 1,057 (12) 304 296 3 27 29 (7)
Gross deposits (on and off balance) Americas 12 5,014 The Netherlands 442 United Kingdom 17 New markets 12 1,242 Totalgross deposits 6,715	5,629 (11) 5,154 (3) 462 (4) 624 (29) 19 (11) 19 (11) 1,267 (2) 1,787 (30) 7,377 (9) 7,584 (11)		10,643 10,556 1 904 1,367 (34) 36 55 (35) 2,509 3,380 (26) 14,092 15,358 (8)
Net deposits (on and off balance) Americas 12 426 (233) - 758 (44) The Netherlands (113) (115) 2 55 - United Kingdom 14 2 - 10 40 New markets 12 (2,487) (1,719) (45) 187 - Total net deposits excluding run-off businesses (2,160) (2,065) (5) 1,010 - Run-off businesses (527) (880) 40 (1,849) 71 Total net deposits (2,687) (2,945) 9 (839) -			193 1,293 (85) (228) 122 - 16 39 (59) (4,206) 308 - (4,225) 1,762 - (1,407) (4,059) 65 (5,632) (2,297) (145)
REVENUE-GENERATING INVESTMENTS
June 30, Mar. 31, 2011 2011 %
Revenue-generating investments(total) 391,276 399,882 (2)
Investments general account 132,837 136,991 (3) Investments for account of policyholders 142,672 144,296 (1)
Off balance sheet investments thirdparties 115,767 118,595 (2)

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OPERATIONAL HIGHLIGHTS

Underlying earnings before tax

AEGON’s underlying earnings before tax amounted to EUR 401 million in the second quarter. The decline, compared with the same quarter last year, was mainly due to unfavorable currency exchange rate movements, higher provisioning for longevity in the Netherlands and charges related to the customer redress program in the United Kingdom.

Underlying earnings from the Americas decreased to EUR 325 million. The decline was the result of a weakening of the US dollar against the euro and a lower contribution from fixed annuities as balances are being managed lower. Lower earnings from Life & Protection were offset by higher fee-based earnings, consistent with AEGON’s strategy.

In the Netherlands, underlying earnings decreased to EUR 74 million as a result of higher provisioning for longevity of EUR 23 million and investments in developing new distribution capabilities. AEGON expects to provision on average EUR 20 million per quarter in 2011 in addition to previous levels of provisioning.

In the United Kingdom, underlying earnings declined to EUR 10 million. The decrease was mainly due to charges of EUR 14 million related to an ongoing program to correct historical issues within customer policy records. Expenses related to the execution of this program amounted to EUR 7 million. In addition, investments in developing new propositions amounted to EUR 8 million.

Underlying earnings from New Markets increased to EUR 59 million driven mainly by strong earnings in Central & Eastern Europe and AEGON Asset Management.

Costs for the holding amounted to EUR 67 million as lower interest income and increased expenses related to the preparation for implementation of Solvency II were more than offset by a one-time benefit of EUR 14 million in the second quarter of 2011.

Net income

Net income decreased slightly to EUR 404 million. Higher net income for the Americas and New Markets was offset by lower net income for the Netherlands and the United Kingdom.

Fair value items

In the second quarter, fair value items recorded a loss of EUR 23 million. Negative results in the Americas, mainly related to lower interest rates and equity market volatility, were partly offset by positive fair value movements of derivatives related to debt issued by the holding.

Realized gains on investments

Realized gains on investments amounted to EUR 204 million for the quarter and were the result of a strategic reallocation of equities into fixed income in the Netherlands in addition to normal trading in the investment portfolio.

Impairment charges

Impairment charges amounted to EUR 100 million and were linked to residential mortgage-backed securities in the United States and the result of exchange offers on specific holdings of European banks in the United Kingdom.

Other charges

Other charges amounted to EUR 16 million and are mostly related to restructuring charges in the United Kingdom (EUR 15 million), the Netherlands (EUR 10 million) and New Markets (EUR 3 million).

Run-off businesses

The results of run-off businesses increased to EUR 10 million, mainly as a result of a lower amortization yield paid on internally transferred assets related to the institutional spread-based business.

Income tax

Tax charges for the quarter amounted to EUR 72 million. These charges included EUR 4 million in tax benefits related to cross-border intercompany reinsurance transactions and a favorable tax settlement of EUR 15 million in the United States.

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Return on equity

In the first half of 2011, AEGON’s return on equity declined to 8.0%, mainly the result of higher average shareholders’ equity excluding revaluation reserves. The increase in average shareholders’ equity was mainly the result of an equity issue of EUR 0.9 billion in February 2011.

Operating expenses

As a result of movements in currency exchange rates, operating expenses remained level at EUR 847 million. Excluding restructuring charges and employee benefit plans and at constant currencies, operating expenses remained level as well.

Sales

AEGON’s total sales decreased 15% to EUR 1.3 billion due mainly to unfavorable currency movements. At constant currencies, total sales declined 7%. New life sales were mainly impacted by lower production in the United Kingdom and the Americas following repricing of products, only partly offset by growth in Central & Eastern Europe.

Gross deposits amounted to EUR 6.7 billion, or a decline of 2% at constant currencies. Strong variable annuity and stable value deposits in the United States were more than offset by the effects of a weaker US dollar, lower asset management inflows and less savings account deposits in the Netherlands.

Value of new business

Compared with the second quarter 2010, the value of new business declined considerably to EUR 103 million. This was the result of higher mortgage-related funding costs and updated mortality assumptions in the Netherlands, lower new business volumes in the United Kingdom and Spain, discontinuance of new mandatory pension sales in Hungary and unfavorable currency exchange rates.

Revenue-generating investments

Revenue-generating investments declined 2% compared with the end of the first quarter of 2011 to EUR 391 billion, the result of a weakening of the US dollar against the euro and the transfer of over EUR 2 billion of pension assets to the Hungarian State during the second quarter 2011.

Capital management

At the end of the second quarter, AEGON’s core capital, excluding revaluation reserves, amounted to EUR 15.9 billion, equivalent to 73%[6] of the company’s total capital base. The decline from the previous quarter was mainly due to the repurchase of all remaining convertible core capital securities from the Dutch State for an amount of EUR 750 million plus a premium of EUR 375 million. AEGON is on target to achieve the proportion of core capital to be at least 75% of total capital by the end of 2012.

Shareholders’ equity remained level compared with first quarter-end 2011 at EUR 16.8 billion as net income in the second quarter was offset by the premium paid on the repurchase of the final tranche of convertible core capital securities from the Dutch State.

The revaluation reserves at June 30, 2011, increased to EUR 1 billion, mainly the result of a decrease in risk-free interest rates which had a positive effect on the value of fixed income securities. This positive effect was offset by a decline in the foreign currency translation reserve, primarily the result of a weakening of the US dollar against the euro.

AEGON aims to maintain at least 1.5 times holding expenses as a buffer at the holding, currently equivalent to approximately EUR 900 million. During the second quarter, excess capital in the holding decreased to EUR 1 billion. The EUR 1.125 billion payment to the Dutch State, holding costs, interest payments and the preferred dividend were partly offset by EUR 1.4 billion in dividends received from the company’s operating units.

At June 30, 2011, AEGON’s Insurance Group Directive (IGD) ratio amounted to ~200%, a slight decline from the level of ~210% at the end of the first quarter. Solvency ratios in the Netherlands and the United Kingdom were relatively flat, while the solvency ratio in the United States declined. The main driver of this decline was up-streaming of dividends to repurchase all remaining convertible core capital securities provided by the Dutch State for an amount of EUR 1.125 billion. The proceeds related to the divestment of Transamerica Reinsurance will be accounted for in the third quarter.

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Cash flows

AEGON’s subsidiaries generated EUR 564 million in operational cash flows during the second quarter of 2011. Operational free cash flows, which reflect excess capital generation, were relatively stable as the impact of realized gains in the Netherlands was offset by increased capital requirements in the United States related to low interest rates.

After deduction of EUR 281 million for investments in new business, operational free cash flow totaled EUR 283 million for the quarter. This brings the total for the first half year of 2011 to EUR 547 million of operational free cash flows.

APPENDIX I � Americas �The Netherlands �United Kingdom �New Markets

FINANCIAL OVERVIEW, Q2 2011 GEOGRAPHICALLY ~~[c)]~~

FINANCIAL OVERVIEW, Q2 2011 GEOGRAPHICALLY ~~c)~~ Holding, other The United New activities & EUR millions Netherlands Kingdom Markets eliminations Total Americas	FINANCIAL OVERVIEW, Q2 2011 GEOGRAPHICALLY ~~c)~~ Holding, other The United New activities & EUR millions Netherlands Kingdom Markets eliminations Total Americas	FINANCIAL OVERVIEW, Q2 2011 GEOGRAPHICALLY ~~c)~~ Holding, other The United New activities & EUR millions Netherlands Kingdom Markets eliminations Total Americas	FINANCIAL OVERVIEW, Q2 2011 GEOGRAPHICALLY ~~c)~~ Holding, other The United New activities & EUR millions Netherlands Kingdom Markets eliminations Total Americas	FINANCIAL OVERVIEW, Q2 2011 GEOGRAPHICALLY ~~c)~~ Holding, other The United New activities & EUR millions Netherlands Kingdom Markets eliminations Total Americas
Underlying earnings before tax by line of business Life Individual savings and retirement products Pensions Non-life Distribution Asset Management Other Share in underlying earnings before tax of associates Underlying earnings before tax Fair value items Realized gains / (losses) on investments Impairment charges Other income / (charges) Run-off businesses Income before tax Income tax Net income		55 20 19 - 241 - - (4) - 115 16 (8) 4 - 70 - - 11 - 11 (1) (2) - - (3) - - 18 - 18 - - - (67) (67) 4 - 11 - 16 74 10 59 (67) 401 2 - (3) 30 (23) 142 11 - - 204 (3) (40) (4) - (100) (11) 1 (3) - (16) - - - - 10 204 (18) 49 (37) 476 (35) - (10) 14 (72) 169 (18) 39 (23) 404 - 147 119 58 - 237 - - 1 325 (52) 51 (53) (3) 10 278 (41)
Net underlying earnings		67 15 256		47 (46) 339
EMPLOYEE NUMBERS
	Mar. 31, 2011 June 30, 2011
Employees excluding agents 23,990 Agents 2,990 Total number of employees excluding Associates 26,980 AEGON's share of employees (including agents) in Associates 3,932 Total 30,912 3,561 30,092 23,639 2,892 26,531

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AMERICAS

• Underlying earnings before tax decline to USD 469 million; a result of lower fixed annuity earnings

• Net income increases to USD 342 million

• New life sales decline to USD 151 million as a result of lower universal life sales due to repricing

• Gross deposits increase to USD 7.2 billion driven by strong variable annuity and stable value deposits

Underlying earnings before tax

Underlying earnings from the Americas decreased to USD 469 million for the second quarter 2011.

• Earnings from Life & Protection in the Americas amounted to USD 194 million. The decrease, as compared to the same quarter last year, was mainly due to unfavorable persistency and lower spreads, while the comparable quarter last year included reserve releases.

• Individual Savings & Retirement earnings amounted to USD 170 million. Fixed annuity earnings decreased to USD 77 million as a result of lower spreads and declining asset balances as the product is de-emphasized. Variable annuity earnings increased as a result of continued strong net inflows and higher asset balances to USD 87 million. Earnings from retail mutual funds also increased as a result of higher account balances and amounted to USD 6 million.

• Earnings from Employer Solutions & Pensions increased to USD 83 million mainly as a result of continued growth of the business.

• Earnings from Canada amounted to USD 19 million and included a one-time benefit of USD 7 million. The joint ventures in Latin America contributed USD 3 million.

Gains on investments of USD 71 million were realized as a result of normal trading activity. Net impairments amounted to USD 76 million and were largely linked to residential mortgage-backed securities.

The results of run-off businesses increased to USD 15 million. This was mainly a result of a lower amortization yield paid on internally transferred assets related to the institutional spread-based business.

Net income contained a tax expense of USD 60 million in the second quarter, including a favorable tax settlement of USD 20 million and USD 6 million in tax benefits related to cross-border intercompany reinsurance transactions.

Return on capital

In the first half of 2011, the return on average capital, excluding revaluation reserves, invested in AEGON’s businesses in the Americas declined to 7.1%, mainly the result of lower net underlying earnings. Excluding the capital allocated to the run-off businesses, the return on capital in the Americas would amount to 9.3%. Return on capital of AEGON’s businesses excludes the benefit of leverage at the holding.

Operating expenses

Net income

Net income from AEGON’s businesses in the Americas increased to USD 342 million in the second quarter. Lower underlying earnings and lower earnings from fair value items were more than offset by higher realized gains on investments and a positive contribution from run-off businesses. In addition, the second quarter 2010 included a one-time charge of USD 140 million for settlement of a dispute related to a BOLI policy in the United States.

The loss of USD 72 million for fair value items in the Americas was mainly related to lower interest rates and equity market volatility.

Operating expenses increased 4% to USD 502 million, mainly as a result of higher employee benefit plan expenses. Operating expenses increased 2% excluding restructuring charges and employee benefit plan expenses.

Sales

New life sales declined to USD 151 million, mainly the effect of the discontinuance of single premium universal life sales in the bank channel during the second half of 2010, as well as repricing of certain universal life products this year to reflect the current interest rate environment. New premium production for accident & health insurance increased to USD 201 million.

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Gross deposits increased to USD 7.2 billion as a result of higher fee-based deposits. In addition to organic growth in traditional distribution channels, the introduction during the first quarter of a new variable annuity rider, Retirement Income Max, drove an 8-year record level of variable annuity deposits of USD 1.4 billion in the second quarter. Stable value and retirement plan deposits also continued to be strong during the quarter.

Net deposits for the ongoing businesses totaled USD 0.6 billion as continued net inflows for the pension and variable annuity businesses were only partly offset by fixed annuity outflows. AEGON is deemphasizing sales of fixed annuities as part of a strategic repositioning and incurred net outflows for this business as a result.

Value of new business

Value of new business increased to USD 73 million, mainly as a result of improved margins on variable annuities. The internal rate of return on new business was 15%.

Revenue-generating investments

Revenue-generating investments were stable at USD 325 billion as compared to the first quarter of 2011. The decline in general account assets as a result of a fixed annuity coinsurance transaction of USD 1.5 billion and lower run-off balances was compensated for by higher variable annuity and pension account balances.

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AMERICASc)	AMERICASc)
USD millions Notes Q2 2011 Q1 2011 % Q2 2010 %		YTD 2011 YTD 2010 %
Underlying earnings before tax by line of business Life and protection 194 195 (1) 241 (20) Fixed annuities 77 90 (14) 125 (38) Variable annuities 87 93 (6) 50 74 Retail mutual funds 6 6 - - - Individual savings and retirement products 170 189 (10) 175 (3) Employer solutions & pensions 83 81 2 79 5 Canada 19 11 73 15 27 Latin America 3 (2) - 1 200 Underlying earnings before tax 469 474 (1) 511 (8) Fair value items (72) (17) - (39) (85) Realized gains / (losses) on investments 71 35 103 21 - Impairment charges (76) (80) 5 (73) (4) Other income / (charges) (5) - - (140) 96 Run- off businesses 15 30 (50) (13) - Income before tax 402 442 (9) 267 51 Income tax (60) (83) 28 (12) - Net income 342 359 (5) 255 34		389 435 (11) 167 246 (32) 180 119 51 12 - - 359 365 (2) 164 148 11 30 26 15 1 2 (50) 943 976 (3) (89) (159) 44 106 54 96 (156) (264) 41 (5) (140) 96 45 (37) - 844 430 96 (143) 42 - 701 472 49
Net income / (loss) attributable to: Equity holders of AEGON N.V. 342 359 (5) 255 34 Net underlying earnings 368 346 6 361 2		701 472 49 714 719 (1)
Commissions and expenses 1,210 1,209 - 961 26 of which operatingexpenses 502 492 2 484 4		2,419 2,316 4 994 985 1
New life sales 12 Life single premiums 78 147 (47) 278 (72) Life recurring premiums annualized 143 139 3 138 4 Total recurring plus 1/10 single 151 154 (2) 166 (9) Life & protection 114 121 (6) 134 (15) Employer solutions & pensions 7 6 17 4 75 Canada 18 17 6 16 13 Latin America 12 10 20 12 - Total recurring plus 1/10 single 151 154 (2) 166 (9) Newpremiumproduction accident and health insurance 201 199 1 180 12		225 457 (51) 282 274 3 305 320 (5) 235 255 (8) 13 12 8 35 31 13 22 22 - 305 320 (5) 400 364 10
Gross deposits (on and off balance) by line of business 12 Life & protection 3 3 - 3 - Fixed annuities 71 83 (14) 124 (43) Variable annuities 1,401 1,179 19 1,028 36 Retail mutual funds 765 775 (1) 957 (20) Individual savings & retirement products 2,237 2,037 10 2,109 6 Employer solutions & pensions 4,913 5,554 (12) 4,311 14 Canada 83 97 (14) 118 (30) Totalgross deposits 7,236 7,691 (6) 6,541 11		6 6 - 154 309 (50) 2,580 1,837 40 1,540 1,933 (20) 4,274 4,079 5 10,467 9,528 10 180 404 (55) 14,927 14,017 6
Net deposits (on and off balance) by line of business 12 Life & protection (10) (14) 29 (12) 17 Fixed annuities (810) (801) (1) (653) (24) Variable annuities 471 220 114 217 117 Retail mutual funds (5) (50) 90 357 - Individual savings & retirement products (344) (631) 45 (79) - Employer solutions & pensions 1,048 485 116 1,264 (17) Canada (105) (158) 34 (197) 47 Total net deposits excluding run-off businesses 589 (318) - 976 (40) Run-off businesses (772) (1,202) 36 (2,332) 67 Total net deposits (183) (1,520) 88 (1,356) 87		(24) (27) 11 (1,611) (1,196) (35) 691 194 - (55) 775 - (975) (227) - 1,533 2,650 (42) (263) (679) 61 271 1,717 (84) (1,974) (5,390) 63 (1,703) (3,673) 54
REVENUE-GENERATING INVESTMENTS
June 30, Mar. 31, 2011 2011 %
Revenue-generating investments(total) 324,919 324,849 -
Investments general account 121,723 124,185 (2) Investments for account of policyholders 83,383 82,459 1 Off balance sheet investments thirdparties 119,813 118,205 1

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THE NETHERLANDS

• Underlying earnings before tax decrease to EUR 74 million due to higher provisioning for longevity

• Net income amounts to EUR 169 million

• New life sales were level at EUR 40 million

Underlying earnings before tax

Underlying earnings from AEGON’s operations in the Netherlands decreased to EUR 74 million as higher results in Life & Savings were more than offset by higher provisioning for longevity in Pensions and a decline in non-life results.

• Earnings from AEGON’s Life & Savings operations in the Netherlands were strong and amounted to EUR 55 million as a result of favorable mortality and a higher contribution from mortgages compared to the second quarter of 2010.

• Earnings from the Pension business declined to EUR 16 million primarily due to higher provisioning for longevity of EUR 23 million. AEGON expects to provision approximately EUR 20 million on average per quarter in 2011, in addition to 2010 levels of provisioning.

• Earnings from Non-life were nil, a decrease from the comparable quarter of 2010 as a result of higher claims and investments made in the business to increase efficiency.

• The Distribution businesses recorded a loss of EUR 1 million, while associates contributed EUR 4 million.

Net income

Net income from AEGON’s businesses in the Netherlands remained level and amounted to EUR 169 million. Fair value items amounted to EUR 2 million, as the negative movement in market value of real estate was offset by other fair value items. Gains on investments totaled EUR 142 million for the quarter and were primarily a result of a strategic reallocation of equities into fixed income. Other charges of EUR 11 million included EUR 10 million of charges related to the restructuring of AEGON’s bank and distribution businesses. The reorganization is expected to save EUR 20 million per annum in costs when completed.

Return on capital

In the first half of 2011, the return on capital excluding revaluation reserves, invested in AEGON’s businesses in the Netherlands, remained level compared to the same period last year at 7.3%. Return on capital of AEGON’s businesses excludes the benefit of leverage at the holding.

Operating expenses

Operating expenses increased to EUR 201 million in the second quarter of 2011, mainly as a result of restructuring charges and investments in the further development of new distribution capabilities. Excluding restructuring charges, operating expenses would have been level with the second quarter of 2010.

Sales

New life sales remained level at EUR 40 million during the second quarter of 2011. Individual life sales increased 19% to EUR 25 million driven by mortgagerelated product sales. Through successful mortgage production AEGON increased its market share in the individual life insurance market to above 11%. New mortgage production for the quarter amounted to EUR 1.1 billion, equivalent to an estimated market share of approximately 9%. Pension sales were lower than in the comparable quarter last year as the market is waiting for a final outcome of the national pension debate and pricing became more competitive in this market. AEGON was one of the first parties to adjust its pricing policy to reflect updated mortality tables.

Premium production for accident & health and non-life products amounted to EUR 11 million and increased slightly compared with the second quarter of 2010.

Gross deposits decreased to EUR 442 million as AEGON offered less competitive interest rates on savings accounts. Following the transfer of activities, third-party pension deposits are included in AEGON Asset Management’s gross deposits from the second quarter of 2011.

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Value of new business

The value of new business declined to EUR 20

million, mainly as a result of higher mortgage-related funding costs and updated mortality assumptions. The internal rate of return on new business amounted to 17%.

Revenue-generating investments

Revenue-generating investments decreased 18% to EUR 60 billion compared with the previous quarter. This was mainly driven by the transfer of EUR 12 billion of assets related to third-party pension asset management operations from AEGON The Netherlands to AEGON Asset Management.

THE NETHERLANDS	THE NETHERLANDS
EUR millions Notes Q2 2011 Q1 2011 % Q2 2010 %		YTD 2011 YTD 2010 %
Underlying earnings before tax by line of business Life and Savings 55 43 28 42 31 Pensions 16 22 (27) 29 (45) Non life - 5 - 19 - Distribution (1) 11 - 6 -		98 81 21 38 76 (50) 5 26 (81) 10 17 (41)
Share in underlying earnings before tax of associates 4 - - 1 -		4 1 -
Underlying earnings before tax 74 81 (9) 97 (24) Fair value items 2 (60) - 68 (97) Realized gains / (losses) on investments 142 35 - 23 - Impairment charges (3) (2) (50) (6) 50 Other income / (charges) (11) (8) (38) 33 - Income before tax 204 46 - 215 (5) Income tax (35) (7) - (45) 22 Net income 169 39 - 170 (1)		155 201 (23) (58) 159 - 177 119 49 (5) (7) 29 (19) 33 - 250 505 (50) (42) (112) 63 208 393 (47)
Net income / (loss) attributable to: Equity holders of AEGON N.V. 169 39 - 170 (1) Net underlying earnings 67 66 2 57 18		208 393 (47) 133 134 (1)
Commissions and expenses 278 272 2 263 6 of which operatingexpenses 201 189 6 182 10		550 527 4 390 364 7
New life sales Life single premiums 217 457 (53) 241 (10) Life recurring premiums annualized 18 19 (5) 18 - Total recurring plus 1/10 single 40 65 (38) 41 (2) Life and Savings 25 26 (4) 21 19 Pensions 15 39 (62) 20 (25) Total recurring plus 1/10 single 40 65 (38) 41 (2) New premium production accident and health insurance 4 10 (60) 4 - Newpremiumproductiongeneral insurance 7 8 (13) 6 17		674 638 6 37 40 (8) 105 103 2 51 48 6 54 55 (2) 105 103 2 14 15 (7) 15 14 7
Gross deposits (on and off balance) by line of business Life and Savings 442 382 16 534 (17) Pensions - 80 - 90 - Totalgross deposits 442 462 (4) 624 (29)		824 1,217 (32) 80 150 (47) 904 1,367 (34)
Net deposits (on and off balance) by line of business Life and Savings (113) (142) 20 50 - Pensions - 27 - 5 - Total net deposits (113) (115) 2 55 -		(255) 132 - 27 (10) - (228) 122 -
REVENUE-GENERATING INVESTMENTS
June 30, Mar. 31, 2011 2011 %
Revenue-generating investments(total) 60,005 73,393 (18)
Investments general account 36,810 37,448 (2) Investments for account of policyholders 23,195 23,627 (2) Off balance sheet investments thirdparties - 12,318 -

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UNITED KINGDOM

• Underlying earnings before tax of GBP 9 million due to anticipated exceptional charges and expenses

• Net income amounts to GBP (15) million

• New life sales decrease to GBP 191 million as a result of lower pension sales

Underlying earnings before tax

In the United Kingdom, underlying earnings before tax amounted to GBP 9 million as a result of charges relating to the customer redress program (GBP 12 million) and expenses related to the execution of this program (GBP 6 million), the development of new product propositions (GBP 7 million) and expenses related to regulatory changes. These exceptional expenses are expected to continue throughout the remainder of 2011.

• Earnings from Life increased to GBP 17 million, mainly as a result of cost reductions.

• Pensions recorded a loss of GBP 7 million as the benefits from further business growth and improved market conditions were more than offset by charges of GBP 12 million relating to the customer redress program, expenses related to the execution of this program of GBP 6 million and investments of GBP 7 million in the development of new propositions.

• Distribution recorded a loss of GBP 1 million, level with the results in the same quarter last year.

In May 2009, AEGON began the implementation of a program to identify and correct historical issues within its customer policy records. The immediate priority of the program has been to deal with issues that resulted in financial detriment and to return affected customers to the financial position they would have been in had the issue not occurred. The program of determining the full scope of customer redress is expected to continue throughout the remainder of the year and could lead to additional charges. AEGON is on track to resolve all issues and expects to have repaid the majority of the customer detriment by the end of 2011.

Net income

Gains on investments amounted to GBP 10 million as a result of a continuing shift from corporate bonds into gilts. Impairments in the second quarter increased to GBP 35 million as a result of exchange offers on specific holdings of European banks. Net income also contained a charge of GBP 13 million related to the restructuring of AEGON’s operations in the United Kingdom.

Return on capital

In the first half of 2011, the return on average capital invested in the United Kingdom, excluding the revaluation reserves, declined to 3.8%. The decrease was the result of higher average capital invested in the unit in combination with lower net underlying earnings. Return on capital of AEGON’s businesses excludes the benefit of leverage at the holding.

Operating expenses

Operating expenses increased to GBP 109 million, mainly driven by charges relating to the restructuring program of GBP 13 million, as well as investments in the new proposition development of GBP 7 million. Operating expenses in the second quarter of 2011 also include expenses of GBP 6 million relating to the execution of the customer redress program. The restructuring aims to reduce operating expenses by 25%, or GBP 80-85 million, by the end of 2011. It is expected that further restructuring charges will arise in coming quarters. To date, AEGON has enacted cost savings of GBP 58 million.

Sales

New life sales decreased to GBP 191 million during the quarter as a result of a planned decrease in sales of individual pensions, new group schemes and annuities following repricing, partially offset by an increase in group pension new entrants.

Net income declined to GBP (15) million, as lower underlying earnings and higher impairments were only partly offset by better results on fair value items and higher gains on investments.

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Value of new business

Value of new business in the United Kingdom

declined to GBP 10 million, mainly driven by lower sales. The internal rate of return on new business for the second quarter was 11%.

Revenue-generating investments

Revenue-generating investments remained level at GBP 58 billion compared with the first quarter 2011.

UNITED KINGDOM	UNITED KINGDOM
GBP millions Notes Q2 2011 Q1 2011 % Q2 2010 %		YTD 2011 YTD 2010 %
Underlying earnings before tax by line of business Life 17 21 (19) 15 13 Pensions (7) (9) 22 5 - Distribution (1) (2) 50 (2) 50 Underlying earnings before tax 9 10 (10) 18 (50) Fair value items - (1) - (11) - Realized gains / (losses) on investments 10 25 (60) 3 - Impairment charges (35) - - (1) - Other income / (charges) 7 1 (5) - 19 (95) Income before tax (15) 29 - 28 - Income tax attributable to policyholder return (15) (1) - (19) 21 Income before income tax on shareholders return (30) 28 - 9 - Income tax on shareholders return 15 18 (17) 15 - Net income (15) 46 - 24 -		38 33 15 (16) 14 - (3) (4) 25 19 43 (56) (1) (9) 89 35 5 - (35) (8) - (4) 40 - 14 71 (80) (16) (40) 60 (2) 31 - 33 13 154 31 44 (30)
Net income / (loss) attributable to: Equity holders of AEGON N.V. (15) 46 - 24 - Net underlying earnings 14 33 (58) 31 (55)		31 44 (30) 47 53 (11)
Commissions and expenses 193 172 12 181 7 of which operatingexpenses 109 98 11 95 15		365 351 4 207 190 9
New life sales 8 Life single premiums 711 841 (15) 1,050 (32) Life recurring premiums annualized 120 127 (6) 158 (24) Total recurring plus 1/10 single 191 211 (9) 263 (27) Life 15 16 (6) 23 (35) Pensions 176 195 (10) 240 (27) Total recurring plus 1/10 single 191 211 (9) 263 (27)		1,552 2,189 (29) 247 279 (11) 402 498 (19) 31 49 (37) 371 449 (17) 402 498 (19)
Gross deposits (on and off balance) by line of business Variable annuities 14 17 (18) 16 (13) Totalgross deposits 14 17 (18) 16 (13)		31 48 (35) 31 48 (35)
Net deposits (on and off balance) by line of business Variable annuities 12 2 - 9 33 Total net deposits 12 2 - 9 33		14 34 (59) 14 34 (59)
REVENUE-GENERATING INVESTMENTS
June 30, Mar. 31, 2011 2011 %
Revenue-generating investments(total) 58,319 57,717 1
Investments general account 7,952 7,855 1 Investments for account ofpolicyholders 50,367 49,862 1

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NEW MARKETS

• Underlying earnings before tax increase 48% to EUR 59 million mainly driven by higher results in CEE

• o Net income increases to EUR 39 million

• New life sales decline to EUR 70 million driven by lower single premium sales in Poland and Spain

Underlying earnings before tax

In New Markets, AEGON reported underlying earnings before tax of EUR 59 million as a result of higher underlying earnings before tax from Central & Eastern Europe and AEGON Asset Management.

• Earnings from Central & Eastern Europe increased to EUR 29 million, largely driven by higher earnings in Hungary, as an improvement in the claim experience more than offset the negative impact from pension legislation changes. The comparable quarter in 2010 included higher claims related to storms and floods in Hungary.

• Results from AEGON’s operations in Asia improved to EUR (8) million. Higher contributions from the in-force business were only partly offset by continued investments in the company’s joint ventures in China, India and Japan. The results for the Asia regional office have been included in the Asia results since the first quarter of 2011, following the implementation of the new operational structure for the Asian operations.

• Earnings from Spain & France increased to EUR 20 million as a result of business growth in Spain following the successful strategic focus on the bancassurance channel.

• Earnings from Variable Annuities Europe amounted to nil as a result of a true up of deferred policy acquisition costs.

• AEGON Asset Management reported increased earnings of EUR 18 million driven by higher performance fees and lower expenses.

In June, over EUR 2 billion of pension assets were transferred to the Hungarian State. As part of the new pension legislation in Hungary, asset management and administration fees have been reduced. In Poland, the government reduced contributions to private pension funds. AEGON expects the measures in Hungary and Poland to have a negative impact on underlying earnings of approximately EUR 20 million in 2011, much of which is expected to occur during the second half of the year.

Net income

Net income from New Markets increased to EUR 39 million during the quarter, primarily as a result of higher underlying earnings. In addition, lower realized gains were offset by lower other charges. Impairment charges declined to EUR 4 million and were mainly related to mortgages in the CEE.

Return on capital

In the first half of 2011, the return on capital invested in New Markets, excluding revaluation reserves, increased to 8.2%, mainly the result of higher net underlying earnings. AEGON’s businesses reported under New Markets are in different stages of development and therefore generate different returns. The majority of the capital is allocated to Central & Eastern Europe and Spain & France, which posted returns of 15.6% and 6.0% respectively. Return on capital of AEGON’s businesses excludes the benefit of leverage at the holding.

Operating expenses

Operating expenses increased to EUR 132 million in the second quarter, mainly as a result of higher operating expenses in Spain, Asia and Variable Annuities Europe as a result of growth of the business.

Sales

New life sales declined 5% to EUR 70 million.

• In Central & Eastern Europe, new life sales increased by 25% to EUR 30 million driven by Hungary and Turkey. A decline in single premium production in Poland was offset by an increase in life recurring premium production, mainly as a result of increased focus on life insurance in Hungary and Poland.

• In Asia, new life sales declined to EUR 7 million as growth in India was offset by lower new life sales in China, primarily as a result of new regulation.

• New life sales in Spain & France declined 20% to EUR 33 million, largely as a result of lower production at one of the distribution partners in Spain.

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New premium production from AEGON’s general insurance and accident & health businesses decreased to EUR 8 million, driven by lower motor insurance production due to increased competition.

Gross deposits in New Markets declined to EUR 1.2 billion, primarily driven by lower asset management deposits.

Revenue-generating investments

Revenue-generating investments increased 31% compared with the first quarter of 2011 to EUR 42 billion, driven by the transfer of EUR 12 billion of assets related to third-party pension asset management operations from AEGON The Netherlands to AEGON Asset Management, which were only partly offset by net outflows in Hungary.

Value of new business

Value of new business in New Markets decreased to EUR 20 million as a result of combined negative effects of adverse pension legislation in Hungary, lower production at one of the distribution partners in Spain and margin pressure for Variable Annuities Europe.

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NEW MARKETS	NEW MARKETS
EUR millions Notes Q2 2011 Q1 2011 % Q2 2010 %		YTD 2011 YTD 2010 %
Underlying earnings before tax Central Eastern Europe 29 26 12 19 53 Asia (8) (11) 27 (11) 27 Spain & France 20 23 (13) 19 5 Variable Annuities Europe - 5 - 1 - AEGON Asset Management 18 14 29 12 50 Underlying earnings before tax 59 57 4 40 48 Fair value items (3) - - (4) 25 Realized gains / (losses) on investments - 2 - 8 - Impairment charges (4) (2) (100) (9) 56 Other income / (charges) (3) 11 - (11) 73 Income before tax 49 68 (28) 24 104 Income tax (10) (26) 62 (9) (11) Net income 39 42 (7) 15 160		55 46 20 (19) (17) (12) 43 39 10 5 (1) - 32 19 68 116 86 35 (3) (1) (200) 2 11 (82) (6) (11) 45 8 (11) - 117 74 58 (36) (22) (64) 81 52 56
Net income / (loss) attributable to: Equity holders of AEGON N.V. 38 42 (10) 15 153 Non-controlling interests 1 - - - - Net underlying earnings 47 38 24 30 57		80 51 57 1 1 - 85 62 37
Commissions and expenses 175 180 (3) 169 4 of which operatingexpenses 132 141 (6) 127 4		355 344 3 273 260 5
New life sales 12 Life single premiums 117 174 (33) 234 (50) Life recurring premiums annualized 58 59 (2) 51 14 Total recurring plus 1/10 single 70 76 (8) 74 (5) Life 64 62 3 66 (3) Associates 6 14 (57) 8 (25) Total recurring plus 1/10 single 70 76 (8) 74 (5) Central Eastern Europe 30 27 11 24 25 Asia 7 11 (36) 9 (22) Spain & France 33 38 (13) 41 (20) Total recurring plus 1/10 single 70 76 (8) 74 (5) New premium production accident and health insurance 1 3 (67) 4 (75) Newpremiumproductiongeneral insurance 7 5 40 9 (22)		291 342 (15) 117 106 10 146 140 4 126 119 6 20 21 (5) 146 140 4 57 43 33 18 19 (5) 71 78 (9) 146 140 4 4 8 (50) 12 15 (20)
Gross deposits (on and off balance) 12 Central Eastern Europe 167 182 (8) 249 (33) Asia 7 11 (36) 10 (30) Spain & France 11 8 38 12 (8) Variable Annuities Europe 159 131 21 175 (9) AEGON Asset Management 898 935 (4) 1,341 (33) Totalgross deposits 1,242 1,267 (2) 1,787 (30)		349 475 (27) 18 35 (49) 19 56 (66) 290 363 (20) 1,833 2,451 (25) 2,509 3,380 (26)
Net deposits (on and off balance) 12 Central Eastern Europe (1,972) 108 - 149 - Asia 4 11 (64) 9 (56) Spain & France (43) (11) - 4 - Variable Annuities Europe 63 26 142 47 34 AEGON Asset Management (539) (1,853) 71 (22) - Total net deposits (2,487) (1,719) (45) 187 -		(1,864) 218 - 15 34 (56) (54) 29 - 89 126 (29) (2,392) (99) - (4,206) 308 -
REVENUE-GENERATING INVESTMENTS
June 30, Mar. 31, 2011 2011 %
Revenue-generating investments(total) 42,154 32,211 31
Investments general account 2,819 2,926 (4) Investments for account of policyholders 6,203 6,210 - Off balance sheet investments thirdparties 33,132 23,075 44

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~~c)~~ FINANCIAL OVERVIEW, 2011 YEAR-TO-DATE GEOGRAPHICALLY Holding, other The United New activities & EUR millions Americas Netherlands Kingdom Markets eliminations Total	~~c)~~ FINANCIAL OVERVIEW, 2011 YEAR-TO-DATE GEOGRAPHICALLY Holding, other The United New activities & EUR millions Americas Netherlands Kingdom Markets eliminations Total	~~c)~~ FINANCIAL OVERVIEW, 2011 YEAR-TO-DATE GEOGRAPHICALLY Holding, other The United New activities & EUR millions Americas Netherlands Kingdom Markets eliminations Total
Underlying earnings before tax by line of business Life Individual savings and retirement products Pensions Non-life Distribution Asset Management Other Associates Underlying earnings before tax Fair value items Realized gains / (losses) on investments Impairment charges Other income / (charges) Run-off businesses Income before tax Income tax Net income	297 98 44 38 - 477 258 - - (4) - 254 117 38 (18) 7 - 144 - 5 - 22 - 27 - 10 (4) - - 6 - - - 32 - 32 - - - - (150) (150) - 4 - 21 - 25 672 155 22 116 (150) 815 (64) (58) (1) (3) 18 (108) 76 177 40 2 - 295 (111) (5) (40) (6) - (162) (3) (19) (5) 8 - (19) 32 - - - - 32 602 250 16 117 (132) 853 (102) (42) 20 (36) 38 (122) 500 208 36 81 (94) 731
Net underlying earnings	509	133 54 85 (109) 672

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OPERATIONAL HIGHLIGHTS FIRST SIX MONTHS 2011

Underlying earnings before tax

AEGON’s underlying earnings before tax amounted to EUR 815 million for the first six months of 2011. The decline compared with the same period last year was mainly due to unfavorable currency exchange rates, higher provisioning for longevity in the Netherlands and charges related to the customer redress program in the United Kingdom.

Underlying earnings from the Americas decreased to EUR 672 million. The decline was the result of a weakening of the US dollar against the euro and a lower contribution from fixed annuities as balances are being managed lower. Lower earnings from Life & Protection were offset by higher fee-based earnings, consistent with AEGON’s strategy.

Fair value items

In the first six months of 2011, fair value items recorded a loss of EUR 108 million. An improvement in the Americas related to strong results from real estate and private equity was more than offset by an exceptional loss on strategic allocation funds in the Netherlands. In addition, results related to the interest rate hedging program in the Netherlands contributed less than in the comparable period.

Realized gains on investments

Realized gains on investments increased to EUR 295 million for the first half of the year and were the result of normal trading in the investment portfolio and a reallocation of equities into fixed income in the Netherlands.

In the Netherlands, underlying earnings decreased to EUR 155 million as a result of higher provisioning for longevity of EUR 47 million and investments in developing new distribution capabilities. AEGON expects to provision on average EUR 20 million per quarter in 2011, in addition to 2010 levels of provisioning.

Impairment charges

Impairment charges improved considerably to EUR 162 million and were linked to residential mortgage-backed securities in the United States and the result of exchange offers on specific European bank holdings in the United Kingdom.

Other charges

In the United Kingdom, underlying earnings declined to EUR 22 million. The decrease was mainly due to charges of EUR 39 million related to an ongoing program to correct historical issues within customer policy records.

Underlying earnings from New Markets increased to EUR 116 million driven mainly by growth in Central & Eastern Europe and AEGON Asset Management.

Higher funding costs and increased expenses related to the preparation for implementation of Solvency II increased costs for the holding company to EUR 150 million in the first six months of 2011.

Net income

Net income decreased to EUR 731 million. Higher net income for the Americas and New Markets was offset by lower net income for the Netherlands and the United Kingdom.

Other charges amounted to EUR 19 million and are mostly related to the annual Hungarian bank tax of EUR 20 million and restructuring charges in the United Kingdom (EUR 23 million), the Netherlands (EUR 18 million) and New Markets (EUR 9 million). These charges are partly offset by a EUR 37 million benefit related to the settlement of legal claims.

Run-off businesses

As of the first quarter of 2011, AEGON’s run-off line of business in the Americas comprises the institutional spread-based business, structured settlement pay-out annuities, BOLI/COLI and life reinsurance. The results of the combined run-off businesses for the first six months of 2011 increased to EUR 32 million, mainly as a result of a lower amortization yield paid on internally transferred assets related to the institutional spread-based business, favorable mortality results in the pay-out annuities block of business and strong BOLI/COLI earnings.

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Income tax

Tax charges for the first six months of 2011 amounted to EUR 122 million. These charges included EUR 21 million in tax benefits related to cross-border intercompany reinsurance transactions and one-time tax credits the United States and the United Kingdom totaling EUR 38 million.

Return on equity

In the first half of 2011, AEGON’s return on equity declined to 8.0%, mainly the result of higher average shareholders’ equity excluding revaluation reserves. The increase in average shareholders’ equity was mainly the result of an equity issue of EUR 0.9 billion in February 2011.

Operating expenses

Operating expenses increased 2% to EUR 1,684 million. Cost savings in AEGON’s established markets were more than offset by restructuring charges in these businesses. At constant currencies and excluding restructuring charges and employee benefit plans, operating expenses remained level.

Sales

AEGON’s total sales decreased 8% to EUR 2.7 billion. New life sales declined mainly as a result of lower production in the United Kingdom and the Americas following repricing of products, only partly offset by growth in Central & Eastern Europe and the Netherlands. Growth of gross deposits in the Americas was offset mainly as a result of a weakening of the US dollar, lower asset management inflows and less savings account deposits in the Netherlands.

Value of new business

Compared with the first six months of 2010, the value of new business declined 20% to EUR 221 million. This was the result of higher mortgage-related funding costs and updated mortality assumptions in the Netherlands, lower new business volumes in the United Kingdom and Spain, discontinuance of new mandatory pension sales in Hungary and unfavorable currency exchange rates.

Revenue-generating investments

Revenue-generating investments declined compared with the end of 2010 to EUR 391 billion, the result

primarily of weakening of the US dollar against the euro and over EUR 2 billion of pension assets that have been transferred to the Hungarian State during the second quarter 2011.

Capital management

At June 30, 2011, AEGON’s core capital position, excluding revaluation reserves, amounted to EUR 15.9 billion, equivalent to 73% of the company’s total capital base. The decline from the year-end 2010 was mainly due to the repurchase of EUR 1,500 million of convertible core capital securities from the Dutch State, related premium of EUR 750 million and unfavorable currency movements, partly offset by net income of EUR 0.7 billion and an equity issue of EUR 0.9 billion in February 2011. AEGON aims the proportion of core capital to be at least 75% of total capital by the end of 2012.

Shareholders’ equity declined compared with yearend 2010 at EUR 16.8 billion as net income and the proceeds of the equity issue were offset by the premium paid on the repurchase of the final tranche of convertible core capital securities from the Dutch State in addition to unfavorable currency movements.

The revaluation reserves at June 30, 2011 remained level compared with year-end 2010 at EUR 1 billion.

AEGON aims to maintain at least 1.5 times holding expenses as a buffer at the holding, equivalent to approximately EUR 900 million. During the first six months of 2011, excess capital in the holding decreased to EUR 1 billion as a result of a EUR 2.25 billion payment to the Dutch State only partly offset by dividends received from the company’s operating units and an equity issue of EUR 0.9 billion.

At June 30, 2011, AEGON’s Insurance Group Directive (IGD) ratio amounted to approximately 200%.

Cash flows

AEGON’s subsidiaries generated EUR 1,103 million in operational cash flows during the first half of 2011. After deduction of EUR 556 million for investments in new business, operational free cash flow totaled EUR 547 million for the period.

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APPENDIX II

VALUE OF NEW BUSINESS AND IRR	VALUE OF NEW BUSINESS AND IRR
		VNB	VNB			VNB		VNB	VNB
EUR millions, after tax		Q2 2011	Q1 2011	%	Q2	2010	%	YTD 2011	YTD 2010	%
Americas		51	63	(19)		52	(2)	114	96	19
The Netherlands		20	23	(13)		30	(33)	44	80	(45)
United Kingdom		11	9	22		24	(54)	20	37	(46)
New Markets		20	23	(13)		32	(38)	43	63	(32)
Total		103	118	(13)		138	(25)	221	276	(20)
		IRR %	IRR%			IRR%
EUR millions, after tax		Q2 2011	Q1 2011		Q2	2010
Americas		14.8	16.0			12.9
The Netherlands		17.3	13.9			17.0
United Kingdom		10.6	10.0			11.9
New Markets		36.5	35.1			35.3
Total		19.5	18.8			18.4
MODELED NEW BUSINESS, APE AND DEPOSITS
			Premium business					Premium business
				APE					APE
EUR millions	Notes	Q2 2011	Q1 2011	%	Q2	2010	%	YTD 2011	YTD 2010	%
	9
Americas		231	248	(7)		238	(3)	479	454	6
The Netherlands		45	75	(40)		58	(22)	120	150	(20)
United Kingdom		227	237	(4)		303	(25)	464	569	(18)
New Markets		88	95	(7)		97	(9)	183	177	3
Total		592	655	(10)		696	(15)	1,247	1,351	(8)

MODELED NEW BUSINESS, APE AND DEPOSITS	MODELED NEW BUSINESS, APE AND DEPOSITS	MODELED NEW BUSINESS, APE AND DEPOSITS	MODELED NEW BUSINESS, APE AND DEPOSITS
			Premium business						Premium business
				APE						APE
EUR millions	Notes	Q2 2011	Q1 2011	%	Q2	2010	%		YTD 2011	YTD 2010	%
	9
Americas		231	248	(7)		238	(3)		479	454	6
The Netherlands		45	75	(40)		58	(22)		120	150	(20)
United Kingdom		227	237	(4)		303	(25)		464	569	(18)
New Markets		88	95	(7)		97	(9)		183	177	3
Total		592	655	(10)		696	(15)		1,247	1,351	(8)
			Deposit business						Deposit business
				Deposits						Deposits
EUR millions	Notes	Q2 2011	Q1 2011	%	Q2	2010	%		YTD 2011	YTD 2010	%
	9
Americas		4,223	4,636	(9)	4,325		(2)		8,859	8,250	7
United Kingdom		17	19	(11)		17	-		36	51	(29)
New Markets		258	216	19		303	(15)		474	610	(22)
Total		4,498	4,871	(8)	4,645		(3)		9,369	8,911	5
VNB/PVNBP SUMMARY
			Premium	business					Premium	business
		VNB	PVNBP	VNB /	VNB /		VNB		PVNBP	VNB /	VNB /
				PVNBP	APE					PVNBP	APE
EUR millions	Notes	Q2 2011		%	%		YTD	2011		%	%
	10
Americas		18	742	2.5		7.9	48		1,568	3.1	10.1
The Netherlands		20	370	5.5		45.2	44		1,007	4.3	36.5
United Kingdom		11	1,329	0.8		4.9	20		2,818	0.7	4.3
New Markets		21	641	3.3		23.6	42		1,335	3.2	23.2
Total		71	3,082	2.3		11.9	155		6,728	2.3	12.4

VNB/PVNBP SUMMARY
			Premium	business				Premium	business
		VNB	PVNBP	VNB	/	VNB /	VNB	PVNBP	VNB /	VNB /
				PVNBP		APE			PVNBP	APE
EUR millions	Notes	Q2 2011		%		%	YTD	2011	%	%
	10
Americas		18	742		2.5	7.9	48	1,568	3.1	10.1
The Netherlands		20	370		5.5	45.2	44	1,007	4.3	36.5
United Kingdom		11	1,329		0.8	4.9	20	2,818	0.7	4.3
New Markets		21	641		3.3	23.6	42	1,335	3.2	23.2
Total		71	3,082		2.3	11.9	155	6,728	2.3	12.4
			Deposit business					Deposit business
		VNB	PVNBP	VNB	/	VNB /	VNB	PVNBP	VNB /	VNB /
				PVNBP		Deposits			PVNBP	Deposits
EUR millions	Notes	Q2 2011		%		%	YTD	2011	%	%
	10
Americas		32	5,240		0.6	0.8	65	11,717	0.6	0.7
The Netherlands
United Kingdom		0	17		0.6	0.6	0	36	0.5	0.5
New Markets		(0)	312	(0.1)		(0.2)	1	629	0.1	0.1
Total		32	5,569		0.6	0.7	66	12,381	0.5	0.7

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Notes:

• 1) For segment reporting purposes underlying earnings before tax, net underlying earnings, commissions and expenses, operating expenses, income tax including associated companies, income before tax including associated companies and value of new business (VNB) are calculated by consolidating on a proportionate basis the revenues and expenses of certain of our associated companies in Spain, India, Brazil and Mexico. We believe that our non-IFRS measures provide meaningful information about the underlying operating results of our business including insight into the financial measures that our senior management uses in managing our business. Among other things our senior management is compensated based in part on AEGON's results against targets using the non-IFRS measures presented here. While other insurers in our peer group present substantially similar non-IFRS measures, the non-IFRS measures presented in this document may nevertheless differ from the non-IFRS measures presented by other insurers. There is no standardized meaning to these measures under IFRS or any other recognized set of accounting standards and readers are cautioned to consider carefully the different ways in which we and our peers present similar information before comparing them. AEGON believes the non-IFRS measures shown herein, when read together with our reported IFRS financial statements, provide meaningful supplemental information for the investing public to evaluate AEGON’s business after eliminating the impact of current IFRS accounting policies for financial instruments and insurance contracts, which embed a number of accounting policy alternatives that companies may select in presenting their results (i.e. companies can use different local GAAPs) and that can make the comparability from period to period difficult. For a definition of underlying earnings and the reconciliation from underlying earnings before tax to income before tax we refer to Note 3 "Segment information" of our Condensed consolidated interim financial statements.

• 2) Net income refers to net income attributable to equity holders of AEGON N.V. and minority interest.

• 3) Sales is defined as new recurring premiums plus 1/10 of single premiums plus 1/10 of gross deposits plus new premium production accident and health plus new premium production general insurance.

• 4) The present value of future distributable earnings on the block of business sold in the reporting period. Value of new business is calculated using beginning of year economic assumptions and assumptions outside of management control, and beginning of quarter operating assumptions

• 5) Return on equity is calculated by dividing the net underlying earnings after cost of leverage by the average shareholders' equity excluding the preferred shares and the revaluation reserve.

6) Capital securities that are denominated in foreign currencies are, for purposes of calculating the capital base ratio, revalued to the period-end exchange rate. All ratios exclude AEGON's revaluation reserve.

• 7) Included in other income/(charges) are charges made to policyholders with respect to income tax in the United Kingdom. 8) Includes production on investment contracts without a discretionary participation feature of which the proceeds are not recognized as revenues but are directly added to our investment contract liabilities.

• 9) APE = recurring premium + 1/10 single premium.

• 10) PVNBP: Present Value New Business Premium.

11) Reconciliation of operating expenses, used for segment reporting, to our IFRS based operating expenses.

11)	Reconciliation of operatingexpenses,used for segment reporting,to our IFRS based operat	ing expenses.
	Q2 2011 YTD 2011
	Employee expenses 517 1.054 Administrative expenses 313 597 Operating expenses for IFRS reporting 830 1.651 Operating expenses related to associates 17 33 Operating expenses in earnings release 847 1.684
12)	New life sales, gross deposits and net deposits data include results of our associated companies in Spain, India, Brazil and Mexico which are consolidated on a proportionate basis.

• 13) Operational free cash flow reflect the sum of the return on free surplus, earnings on in-force business, release of required surplus on in-force business reduced by new business first year strain and required surplus on new business. Refer to our Embedded Value 2010 report for further details.

• a) The calculation of the IGD (Insurance Group Directive) capital surplus and ratio are based on Solvency I capital requirements on IFRS for entities within the EU (Pillar 1 for AEGON UK), and local regulatory solvency measurements for non-EU entities. Specifically, required capital for the life insurance companies in the US is calculated as two times the upper end of the Company Action Level range (200%) as applied by the National Association of Insurance Commissioners in the US. The calculation of the IGD ratio excludes the available and required capital of the UK With-Profit funds. In the UK solvency surplus calculation the local regulator only allows the available capital number of the With-Profit funds included in overall local available capital to be equal to the amount of With-Profit funds' required capital.

• b) The results in this release are unaudited.

• c) The comparative 2010 earnings and sales information has been revised to reflect the transfer of the Life Reinsurance and BOLI/COLI businesses to the Run-off businesses line to make the information consistent with the current period figures.

Currencies

Income statement items: average rate 1 EUR = USD 1.4025 (2010: USD 1.3279). Income statement items: average rate 1 EUR = GBP 0.8670 (2010: GBP 0.8696). Balance sheet items: closing rate 1 EUR = USD 1.4499 (2010: USD 1.2271; year-end 2010: USD 1.3362). Balance sheet items: closing rate 1 EUR = GBP 0.9031 (2010: GBP 0.8175; year-end 2010: GBP 0.8608).

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ADDITIONAL INFORMATION

The Hague, August 11, 2011

Press conference call

8:00 am CET: Audio webcast on www.aegon.com

Analyst & investor presentation / conference call

9:00 am CET: Audio webcast on www.aegon.com

Call-in numbers

United States: +1 480 629 9673

United Kingdom: +44 207 153 2027

The Netherlands: +31 45 631 6902

Replay

Two hours after the conference call, a replay will be available on www.aegon.com and on the following phone numbers:

United Kingdom: +44 207 154 2833, access code: 4458655#

United Sates: +1 303 590 3030, access code: 4458655#

Supplements

AEGON’s Q2 2011 Financial Supplement and Condensed Consolidated Interim Financial Statements are available on www.aegon.com.

About AEGON As an international life insurance, pension and asset management company based in The Hague, AEGON has businesses in over twenty markets in the Americas, Europe and Asia. AEGON companies employ approximately 26,500 people and have some 40 million customers across the globe. Key figures - EUR Second quarter 2011 Fullyear 2010 Underlying earnings before tax 401 million 1.8 billion New life sales 431 million 2.1 billion Gross deposits 6.7 billion 33 billion Revenue-generating investments (end of period) 391 billion 413 billion	About AEGON As an international life insurance, pension and asset management company based in The Hague, AEGON has businesses in over twenty markets in the Americas, Europe and Asia. AEGON companies employ approximately 26,500 people and have some 40 million customers across the globe. Key figures - EUR Second quarter 2011 Fullyear 2010 Underlying earnings before tax 401 million 1.8 billion New life sales 431 million 2.1 billion Gross deposits 6.7 billion 33 billion Revenue-generating investments (end of period) 391 billion 413 billion	Contact information Media relations: Greg Tucker +31(0)70 344 8956 gcc-ir@aegon.com Investor relations: Willem van den Berg +31 (0)70 344 8305 877 548 9668 – toll free USA only ir@aegon.com www.aegon.com
	bout AEGON s an international life insurance, pension and asset management company based in he Hague, AEGON has businesses in over twenty markets in the Americas, urope and Asia. AEGON companies employ approximately 26,500 people nd have some 40 million customers across the globe. Key figures - EUR Second quarter 2011 Fullyear 2010	Contact informati Media relations: Greg Tucker +31(0)70 344 8956 gcc-ir@aegon.com
		Investor relations Willem van den B +31 (0)70 344 830 877 548 9668 – toll ir@aegon.com www.aegon.com
	Underlying earnings before tax 401 million 1.8 billion New life sales 431 million 2.1 billion Gross deposits 6.7 billion 33 billion Revenue-generating investments (end of period) 391 billion 413 billion

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DISCLAIMERS

Cautionary note regarding non-GAAP measures

This document includes certain non-GAAP financial measures: underlying earnings before tax and value of new business. The reconciliation of underlying earnings before tax to the most comparable IFRS measure is provided in Note 3 "Segment information" of our Condensed consolidated interim financial statements. Value of new business is not based on IFRS, which are used to report AEGON's primary financial statements and should not viewed as a substitute for IFRS financial measures. We may define and calculate value of new business differently than other companies. Please see AEGON’s Embedded Value Report dated May 12, 2011 for an explanation of how we define and calculate. AEGON believes that these non-GAAP measures, together with the IFRS information, provide a meaningful measure for the investment community to evaluate AEGON’s business relative to the businesses of our peers.

Local currencies and constant currency exchange rates

This document contains certain information about our results and financial condition in USD for the Americas and GBP for the United Kingdom, because those businesses operate and are managed primarily in those currencies. Certain comparative information presented on a constant currency basis eliminates the effects of changes in currency exchange rates. None of this information is a substitute for or superior to financial information about us presented in EUR, which is the currency of our primary financial statements.

Forward-looking statements

The statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, is confident, will, and similar expressions as they relate to our company. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. We undertake no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include but are not limited to the following:

• Changes in general economic conditions, particularly in the United States, the Netherlands and the United Kingdom;

• Changes in the performance of financial markets, including emerging markets, such as with regard to:

• The frequency and severity of defaults by issuers in our fixed income investment portfolios; and

• The effects of corporate bankruptcies and/or accounting restatements on the financial markets and the resulting decline in the value of equity and debt securities we hold;

• The frequency and severity of insured loss events;

• o Changes affecting mortality, morbidity, persistence and other factors that may impact the profitability of our insurance products; o Changes affecting interest rate levels and continuing low or rapidly changing interest rate levels;

• Changes affecting currency exchange rates, in particular the EUR/USD and EUR/GBP exchange rates;

• Increasing levels of competition in the United States, the Netherlands, the United Kingdom and emerging markets;

o Changes in laws and regulations, particularly those affecting our operations, the products we sell, and the attractiveness of certain products to our consumers;

• Regulatory changes relating to the insurance industry in the jurisdictions in which we operate;

• Acts of God, acts of terrorism, acts of war and pandemics;

• o Changes in the policies of central banks and/or governments;

o Lowering of one or more of our debt ratings issued by recognized rating organizations and the adverse impact such action may have on our ability to raise capital and on our liquidity and financial condition;

o Lowering of one or more of insurer financial strength ratings of our insurance subsidiaries and the adverse impact such action may have on the premium writings, policy retention, profitability of its insurance subsidiaries and liquidity;

o The effect of the European Union’s Solvency II requirements and other regulations in other jurisdictions affecting the capital we are required to maintain;

• Litigation or regulatory action that could require us to pay significant damages or change the way we do business;

• Customer responsiveness to both new products and distribution channels;

• o Competitive, legal, regulatory, or tax changes that affect the distribution cost of or demand for our products;

o The impact of acquisitions and divestitures, restructurings, product withdrawals and other unusual items, including our ability to integrate acquisitions and to obtain the anticipated results and synergies from acquisitions;

o Our failure to achieve anticipated levels of earnings or operational efficiencies as well as other cost saving initiatives.

Further details of potential risks and uncertainties affecting the company are described in the company’s filings with Euronext Amsterdam and the US Securities and Exchange Commission, including the Annual Report on Form 20-F. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, the company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Page 24 of 24

The hague, augusT 11, 2011

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condensed consolidaTed inTerim financial sTaTemenTs Q2 2011

life insurance

pensions

asset management

table of contents

Condensed Consolidated inCome statement	p 2
Condensed Consolidated statement of Comprehensive inCome	p 3
Condensed Consolidated statement of finanCial position	p 4
Condensed Consolidated statement of Changes in equity	p 5
Condensed Consolidated Cash flow statement	p 6
notes to the Condensed Consolidated interim finanCial statements	p 7

unaudited

page 1

CONDENSED CONSOLIDATED INCOME STATEMENT

CONDENSED CONSOLIDATED INCOME STATEMENT	CONDENSED CONSOLIDATED INCOME STATEMENT
EUR millions(except per share data) Notes Q2 2011 Q2 2010 Ytd 2011 Ytd 2010
Premium income 4 4,501 5,264 Investment income 5 2,099 2,286 Fee and commission income 428 405 Other revenues 2 - Total revenues 7,030 7,955 Income from reinsurance ceded 477 426 Results from financial transactions 6 932 (4,978) Other income 7 (3) 34 Total income 8,436 3,437 Benefits and expenses 8 7,759 2,640 Impairment charges / (reversals) 9 106 106 Interest charges and related fees 117 99 Other charges 10 (7) 116 Total charges 7,975 2,961 Share in net result of associates 12 9 Income / (loss) before tax 473 485 Income tax (expense) / benefit (69) (72) Net income /(loss) 404 413	10,778 11,427 4,210 4,378 888 841 4 1 15,880 16,647 907 906 2,045 1,314 34 34 18,866 18,901 17,618 17,440 170 276 228 195 21 116 18,037 18,027 17 19 846 893 (115) (108) 731 785
Net income / (loss) attributable to: Equity holders of AEGON N.V. 403 413 Non-controllinginterests 1 -	730 784 1 1
Earnings and dividend per share(EUR per share) Earnings per share1 (0.04) 0.16 Earnings per share, excluding premium on convertible core capital securities 0.16 0.16 Diluted earnings per share1, 2 (0.04) 0.16 Earnings per share after potential attribution to convertible core capital securities1, 3 - 0.13 Diluted earnings per share after conversion of convertible core capital securities1, 2 - 0.12 Dividendper common share - -	(0.09) 0.35 0.32 0.35 (0.09) 0.35 - 0.30 - 0.27 - -
Net income / (loss) per common share calculation Net income / (loss) 403 413 Preferred dividend (59) (90) Coupons on perpetuals (43) (49) Coupons and premium on convertible core capital securities (375) - Earnings attributable to common shareholders (74) 274 Potential coupon on convertible core capital securities - (43) Earnings after potential attribution to convertible core capital securities (74) 231 Weighted average number of common shares outstanding 1,880 1,707 Weighted average number of common shares outstanding, after conversion of convertible core capital securities - 2,207	730 784 (59) (90) (87) (96) (750) - (166) 598 - (85) (166) 513 1,823 1,707 - 2,207

1 After deduction of preferred dividend, coupons on perpetuals and coupons and premium on core capital securities.

2 The potential conversion of the convertible core capital securities is taken into account in the calculation of diluted earnings per share if this would have a dilutive effect (i.e. diluted earnings per share would be lower than the earnings after potential attribution to convertible core capital securities).

3 Reflect basic earnings per share. For Q2 2011, basic earnings per share is EUR (0.04).

local knowledge. global power.

unaudited

page 2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME	CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
EUR millions Q2 2011 Q2 2010 Ytd 2011 Ytd 2010
Net income / (loss) 404 413 Other comprehensive income: Gains / (losses) on revaluation of available-for-sale investments 565 1,492 (Gains) / losses transferred to the income statement on disposal and impairment of available-for-sale investments (158) (122) Changes in revaluation reserve real estate held for own use 1 4 Changes in cash flow hedging reserve 84 311 Movement in foreign currency translation and net foreign investment hedging reserve (293) 1,381 Equity movements of associates 1 (10) Disposal of group assets - (22) Aggregate tax effect of items recognized in other comprehensive income (156) (659) Other (7) 2 Other comprehensive income for the period 37 2,377 Total comprehensive income 441 2,790	731 785 365 3,277 (219) (142) - 6 (3) 319 (1,173) 2,234 (7) 8 - (22) (56) (1,237) (6) (7) (1,099) 4,436 (368) 5,221
Total comprehensive income attributable to: Equity holders of AEGON N.V. 441 2,790 Non-controllinginterests - -	(368) 5,218 - 3

page 3

unaudited

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		June 30,	Dec. 31,
		2011	2010
EUR millions	Notes
ASSETS
Intangible assets	11	4,016	4,359
Investments	12	132,837	143,188
Investments for account of policyholders	13	142,672	146,237
Derivatives		5,221	6,251
Investments in associates		743	733
Reinsurance assets		6,302	5,580
Deferred expenses and rebates	14	11,222	11,948
Other assets and receivables		8,512	8,776
Cash and cash equivalents		4,450	5,231
Total assets		315,975	332,303
EQUITY AND LIABILITIES
Shareholders' equity		16,845	17,210
Convertible core capital securities	16	-	1,500
Other equity instruments		4,711	4,704
Issued capital and reserves attributable to equity holders		21,556	23,414
of AEGON N.V.
Non-controlling interests		11	11
Group equity		21,567	23,425
Trust pass-through securities		131	143
Subordinated borrowings		16	-
Insurance contracts		94,390	100,506
Insurance contracts for account of policyholders		76,149	77,650
Investment contracts		20,578	23,237
Investment contracts for account of policyholders		68,058	69,527
Derivatives		5,563	5,971
Borrowings	17	9,409	8,518
Other liabilities		20,114	23,326
Total liabilities		294,408	308,878
Total equity and liabilities		315,975	332,303

local knowledge. global power.

unaudited

page 4

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
EUR millions Share capital2 Retained earnings Revaluation reserves Other reserves Convertible core capital securities Other equity instruments Issued capital and reserves1 Non- controlling interests Total
Six months ended June 30, 2011 At beginning of year 8,184 9,421 958 (1,353) 1,500 4,704 Net income recognized in the income statement - 730 - - - - Other comprehensive income: Gains / (losses) on revaluation of available-for-sale investments - - 365 - - - (Gains) / losses transferred to income statement on disposal and impairment of available-for-sale investments - - (219) - - - Changes in cash flow hedging reserve - - (3) - - - Movement in foreign currency translation and net foreign investment hedging reserves - - - (1,173) - - Equity movements of associates - - - (7) - - Aggregate tax effect of items recognized in other comprehensive income - - (112) 56 - - Other - (5) - - - - Total other comprehensive income - (5) 31 (1,124) - - Total comprehensive income for 2011 - 725 31 (1,124) - - Shares issued 913 - - - - - Repurchase of convertible core capital securities - - - - (1,500) - Preferred dividend - (59) - - - - Coupons on perpetuals - (87) - - - - Coupons and premium on convertible core capital securities - (750) - - - - Share options - - - - - 7 Other - (14) - - - - At end ofperiod 9,097 9,236 989 (2,477) - 4,711	23,414 11 730 1 365 - (219) - (3) - (1,173) - (7) - (56) - (5) (1) (1,098) (1) (368) - 913 - (1,500) - (59) - (87) - (750) - 7 - (14) - 21,556 11	23,425 731 365 (219) (3) (1,173) (7) (56) (6) (1,099) (368) 913 (1,500) (59) (87) (750) 7 (14) 21,567
Six months ended June 30, 2010 At beginning of year 8,184 7,995 (1,709) (2,306) 2,000 4,709 Net income / (loss) recognized in the income statement - 784 - - - - Other comprehensive income: Gains / (losses) on revaluation of available-for-sale investments - - 3,277 - - - (Gains) / losses transferred to income statement on disposal and impairment of available-for-sale investments - - (142) - - - Changes in revaluation reserve real estate held for own use - - 6 - - - Changes in cash flow hedging reserve - - 319 - - - Movement in foreign currency translation and net foreign investment hedging reserves - - - 2,234 - - Equity movements of associates - - - 8 - - Disposal of group assets - - (22) - - - Aggregate tax effect of items recognized in other comprehensive income - - (1,141) (96) - - Other - (9) - - - - Total other comprehensive income - (9) 2,297 2,146 - - Total comprehensive income / (loss) for 2010 - 775 2,297 2,146 - - Preferred dividend - (90) - - - - Coupons on perpetual securities - (96) - - - - Share options - - - - - (7) At end ofperiod 8,184 8,584 588 (160) 2,000 4,702	18,873 10 784 1 3,277 - (142) - 6 - 319 - 2,234 - 8 - (22) - (1,237) - (9) 2 4,434 2 5,218 3 (90) - (96) - (7) - 23,898 13	18,883 785 3,277 (142) 6 319 2,234 8 (22) (1,237) (7) 4,436 5,221 (90) (96) (7) 23,911

1 Issued capital and reserves attributable to equity holders of AEGON N.V.

2 For a breakdown of share capital please refer to note 15.

unaudited

page 5

CONDENSED CONSOLIDATED CASH FLOW STATEMENT

EUR millions	Ytd 2011	Ytd 2010
Cash flow from operating activities	(345)	1,490
Purchases and disposals of intangible assets	(7)	(11)
Purchases and disposals of equipment and other assets	(25)	(53)
Purchases, disposals and dividends of subsidiaries and associates	(7)	(169)
Cash flow from investing activities	(39)	(233)
Issuance and purchase of share capital	913	-
Dividends paid	(59)	(90)
Issuances, repurchases and coupons of convertible core capital securities	(2,250)	-
Issuances, repurchases and coupons of perpetuals	(117)	(129)
Issuances and repayments on borrowings	1,149	73
Cash flow from financing activities	(364)	(146)
Net increase /(decrease) in cash and cash equivalents	(748)	1,111
Net cash and cash equivalents at January 1	5,174	4,013
Effects of changes in exchange rate	(46)	113
Net cash and cash equivalents at end ofperiod	4,380	5,237
	June 30,	June 30,
	2011	2010
Cash and cash equivalents	4,450	5,328
Bank overdrafts	(70)	(91)
Net cash and cash equivalents	4,380	5,237

local knowledge. global power.

unaudited

page 6

notes to the condensed consolidated interim financial statements

amounts in eur millions, unless otherwise stated

1. Basis of presentation

the condensed consolidated interim financial statements as at and for the second quarter ended June 30, 2011, have been prepared in accordance with ias 34 "interim financial reporting" as adopted by the european union (eu) as issued by the international accounting standards Board (iasB). it does not include all of the information required for a full set of financial statements prepared in accordance with ifrs and should therefore be read together with the 2010 consolidated financial statements of aegon n.V. as included in aegon’s annual report for 2010. aegon’s annual report for 2010 is available on our website (www.aegon.com).

the condensed consolidated interim financial statements have been prepared in accordance with the historical cost convention as modified by the revaluation of investment properties and those financial instruments (including derivatives) and financial liabilities that have been measured at fair value. the condensed consolidated interim financial statements were approved by the executive Board on august 10, 2011.

the published figures in these condensed consolidated interim financial statements are unaudited.

the following standards, interpretations, amendments to standards and interpretations became effective in 2011:

• amendment to ias 24 - related party disclosures.

• amendment to ifrs 1 - first time adoption.

• amendment to ifric 14 - prepayments of a minimum funding requirement.

• amendment to ias 32 - classification of rights issues.

• ifric 19 - extinguishing financial liabilities with equity instruments.

• improvements to ifrs (2010).

none of these new or revised standards and interpretations had a significant effect on the condensed consolidated interim financial statements for the period ended June 30, 2011.

aegon has not early adopted any other standards, interpretations or amendments, that have been issued but are not yet effective.

Critical accounting estimates

certain amounts recorded in the condensed consolidated interim financial statements reflect estimates and assumptions made by management. actual results may differ from the estimates made.

2. significant accounting policies

all accounting policies and methods of computation applied in the condensed consolidated interim financial statements are the same as those applied in the 2010 consolidated financial statements, which were prepared in accordance with the international financial reporting standards (ifrs) as issued by the international accounting standards Board as adopted by the european union.

Exchange rates

the following exchange rates are applied for the condensed consolidated interim financial statements: income statement items: average rate 1 eur = usD 1.4025 (2010: usD 1.3279); 1 eur = gBp 0.8670 (2010: gBp 0.8696). Balance sheet items: closing rate 1 eur = usD 1.4499 (2010: usD 1.3362); 1 eur = gBp 0.9031 (2010: gBp 0.8608).

taxes on income for the first six months of 2011 interim period are accrued using the tax rate that would be applicable to expected total annual earnings.

unaudited

page 7

3. segment information

3.1 income statement

three months ended June 30, 2011

EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based	EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based	EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based
Three months ended June 30, 2011 Underlying earnings before tax geographically Fair value items Realized gains / (losses) on investments Impairment charges Impairment reversals Other income / (charges) Run-off businesses Income before tax Income tax (expense) / benefit Net income	325 74 10 59 (68) 1 401 (52) 2 - (3) 30 - (23) 51 142 11 - - - 204 (69) (3) (40) (4) - - (116) 16 - - - - - 16 (3) (11) 1 (3) - - (16) 10 - - - - - 10 278 204 (18) 49 (38) 1 476 (41) (35) - (10) 14 - (72) 237 169 (18) 39 (24) 1 404	(4) 397 - (23) - 204 1 (115) - 16 - (16) - 10 (3) 473 3 (69) - 404
Inter-segment underlying earnings Revenues Life insurance gross premiums Accident and health insurance General insurance Total gross premiums Investment income Fee and commission income Other revenues Total revenues	(31) (10) (17) 53 5 1,489 483 1,648 299 - - 3,919 435 40 - 13 - - 488 - 127 - 37 - - 164 1,924 650 1,648 349 - - 4,571 896 549 609 63 67 (66) 2,118 249 79 36 117 - (53) 428 1 - - - 1 - 2 3,070 1,278 2,293 529 68 (119) 7,119	(69) 3,850 (1) 487 - 164 (70) 4,501 (19) 2,099 - 428 - 2 (89) 7,030
Inter-segment revenues	3 - 1 53 62

three months ended June 30, 2010

EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based	EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based	EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based
Three months ended June 30, 2010 Underlying earnings before tax geographically Fair value items Realized gains / (losses) on investments Impairment charges Impairment reversals Other income / (charges) Run-off businesses Income before tax Income tax (expense) / benefit Net income	398 97 22 40 (76) 2 483 (33) 68 (14) (4) (14) - 3 17 23 3 8 97 - 148 (92) (6) (1) (9) - - (108) 31 - - - - - 31 (105) 33 23 (11) - - (60) (10) - - - - - (10) 206 215 33 24 7 2 487 (7) (45) (6) (9) (7) - (74) 199 170 27 15 - 2 413	- 483 - 3 (2) 146 - (108) - 31 - (60) - (10) (2) 485 2 (72) - 413
Inter-segment underlying earnings Revenues Life insurance gross premiums Accident and health insurance General insurance Total gross premiums Investment income Fee and commission income Other revenues Total revenues	(46) (14) (19) 75 4 1,772 520 2,008 357 - - 4,657 485 32 - 13 - - 530 - 124 - 41 - - 165 2,257 676 2,008 411 - - 5,352 1,089 547 597 58 91 (80) 2,302 231 90 41 115 - (72) 405 - - - - - - - 3,577 1,313 2,646 584 91 (152) 8,059	(87) 4,570 (1) 529 - 165 (88) 5,264 (16) 2,286 - 405 - - (104) 7,955
Inter-segment revenues	- - 2 72 78

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six months ended June 30, 2011

EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based	EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based	EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based
Six months ended June 30, 2011 Underlying earnings before tax geographically Fair value items Realized gains / (losses) on investments Impairment charges Impairment reversals Other income / (charges) Run-off businesses Income before tax Income tax (expense) / benefit Net income	672 155 22 116 (150) - 815 (64) (58) (1) (3) 18 - (108) 76 177 40 2 - - 295 (152) (6) (40) (6) - - (204) 41 1 - - - - 42 (3) (19) (5) 8 - - (19) 32 - - - - - 32 602 250 16 117 (132) - 853 (102) (42) 20 (36) 38 - (122) 500 208 36 81 (94) - 731	(8) 807 - (108) - 295 1 (203) - 42 - (19) - 32 (7) 846 7 (115) - 731
Inter-segment underlying earnings Revenues Life insurance gross premiums Accident and health insurance General insurance Total gross premiums Investment income Fee and commission income Other revenues Total revenues	(65) (20) (34) 111 8 3,066 2,354 3,510 668 - - 9,598 875 149 - 45 - - 1,069 - 259 - 78 - - 337 3,941 2,762 3,510 791 - - 11,004 1,850 1,069 1,208 119 132 (129) 4,249 519 174 73 233 - (111) 888 1 - - 1 2 - 4 6,311 4,005 4,791 1,144 134 (240) 16,145	(225) 9,373 (1) 1,068 - 337 (226) 10,778 (39) 4,210 - 888 - 4 (265) 15,880
Inter-segment revenues	3 1 1 111 124

six months ended June 30, 2010

EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based	EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based	EUR millions Americas The Netherlands United Kingdom New Markets Holding and other activities Eliminations Non-IFRS Total Associates eliminations Total IFRS based
Six months ended June 30, 2010 Underlying earnings before tax geographically Fair value items Realized gains / (losses) on investments Impairment charges Impairment reversals Other income / (charges) Run-off businesses Income before tax Income tax (expense) / benefit Net income	735 201 50 86 (144) 1 929 (119) 159 (11) (1) (41) - (13) 41 119 6 11 97 - 274 (247) (12) (12) (11) - - (282) 47 5 3 - - - 55 (105) 33 46 (11) - - (37) (28) - - - - - (28) 324 505 82 74 (88) 1 898 32 (112) (32) (22) 21 - (113) 356 393 50 52 (67) 1 785	(3) 926 - (13) (2) 272 - (282) - 55 - (37) - (28) (5) 893 5 (108) - 785
Inter-segment underlying earnings Revenues Life insurance gross premiums Accident and health insurance General insurance Total gross premiums Investment income Fee and commission income Other revenues Total revenues	(76) (28) (32) 127 9 3,320 2,269 3,955 645 - - 10,189 918 140 - 40 - - 1,098 - 259 - 85 - - 344 4,238 2,668 3,955 770 - - 11,631 2,014 1,105 1,156 116 160 (138) 4,413 484 176 79 227 - (125) 841 1 - - 1 - - 2 6,737 3,949 5,190 1,114 160 (263) 16,887	(203) 9,986 (1) 1,097 - 344 (204) 11,427 (35) 4,378 - 841 (1) 1 (240) 16,647
Inter-segment revenues	- - 2 125 136

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unaudited

non-ifrs measures

this report includes the non-ifrs financial measure: underlying earnings before tax. the reconciliation of this measure to the most comparable ifrs measure is presented in the tables in this note. this non-ifrs measure is calculated by consolidating on a proportionate basis the revenues and expenses of our associated companies in spain, india, Brazil and mexico. aegon believes that its non-ifrs measure provides meaningful information about the underlying operating results of our business including insight into the financial measures that senior management uses in managing the business.

among other things our senior management is compensated based in part on aegon’s results against targets using the non-ifrs measure presented here. While many other insurers in our peer group present substantially similar non-ifrs measures, the non-ifrs measure presented in this document may nevertheless differ from the nonifrs measures presented by other insurers. there is no standardized meaning to these measures under ifrs or any other recognized set of accounting standards and readers are cautioned to consider carefully the different ways in which aegon and its peers present similar information before comparing them.

aegon believes the non-ifrs measure shown herein, when read together with our reported ifrs financial statements, provides meaningful supplemental information for the investing public to evaluate aegon’s business after eliminating the impact of current ifrs accounting policies for financial instruments and insurance contracts, which embed a number of accounting policy alternatives that companies may select in presenting their results (i.e. companies can use different local gaaps) and that can make the comparability from period to period difficult.

Underlying earnings

certain assets held by aegon americas, aegon the netherlands and aegon uK are carried at fair value and managed on a total return basis, with no offsetting changes in the valuation of related liabilities. these include assets such as investments in hedge funds, private equities, real estate limited partnerships, convertible bonds and

structured products. underlying earnings exclude any overor underperformance compared to management’s long-term expected return on assets. Based on current holdings and asset returns, the long-term expected return on an annual basis is 8-10%, depending on asset class, including cash income and market value changes. the expected earnings from these asset classes are net of deferred policy acquisition costs (Dpac) where applicable.

in addition, certain products offered by aegon americas contain guarantees and are reported on a fair value basis, including the segregated funds offered by aegon canada and the total return annuities and guarantees on variable annuities of aegon usa. the earnings on these products are impacted by movements in equity markets and risk free interest rates. short-term developments in the financial markets may therefore cause volatility in earnings. included in underlying earnings is a long-term expected return on these products and excluded is any over- or underperformance compared to management’s expected return. the fair value movements of certain guarantees and the fair value change of derivatives that hedge certain risks on these guarantees of aegon the netherlands and Variable annuities europe (included in new markets) are excluded from underlying earnings, the long-term expected return for these guarantees is set at zero.

Holding and other activities include certain issued bonds that are held at fair value through profit or loss. the interest rate risk on these bonds is hedged using swaps. the fair value movement resulting from changes in aegon’s credit spread used in the valuation of these bonds are excluded from underlying earnings and reported under fair value items.

Fair value items

fair value items include the over- or underperformance of investments and guarantees held at fair value for which the expected long-term return is included in underlying earnings.

in addition, hedge ineffectiveness on hedge transactions, fair value changes on economic hedges without natural offset in earnings and for which no hedge accounting is applied and fair value movements on real estate are included under fair value items.

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Realized gains or losses on investments

includes realized gains and losses on available-for-sale investments, mortgage loans and loan portfolios.

Impairment charges / reversals

includes impairments / (reversals) on available-for-sale debt securities and impairments on shares including the effect of deferred policyholder acquisition costs, mortgage loans and loan portfolios on amortized cost and associates.

Other income or charges

other income or charges is used to report any items which cannot be directly allocated to a specific line of business. also items that are outside the normal course of business are included under this heading.

other charges include restructuring charges that are considered other charges for segment reporting purposes because they are outside the normal course of business. in the condensed consolidated income statement, these charges are included in operating expenses.

also, in December 2010, aegon publicly announced the decision of its executive Board to discontinue new sales of executive non-qualified benefit plans and related Bank-owned and corporate-owned life insurance (Boli/coli) business in the united states. earnings from the Boli/coli business are no longer reported in underlying earnings but reflected in the run-off businesses line in the segment reporting (both in 2011 and 2010).

the comparative figures, affecting the americas segment, regarding the underlying earnings and the run-off businesses have been revised as follows:

Reported Reclassification Revised EUR millions BOLI/COLI Reinsurance	Reported Reclassification Revised EUR millions BOLI/COLI Reinsurance	Reported Reclassification Revised EUR millions BOLI/COLI Reinsurance	Reported Reclassification Revised EUR millions BOLI/COLI Reinsurance	Reported Reclassification Revised EUR millions BOLI/COLI Reinsurance
Three months ended June 30, 2010 Underlying earnings before tax geographically Fair value items Realized gains / (losses) on investments Impairment charges Impairment reversals Other income / (charges) Run-off businesses Income before tax Income tax (expense) / benefit Net income	522 3 148 (108) 31 (60) (49) 487 (74) 413	(13) - - - - - 13 - - -	(26) - - - - - 26 - - -	483 3 148 (108) 31 (60) (10) 487 (74) 413

Run-off businesses

includes underlying results of business units where management has decided to exit the market and to run–off the existing block of business. currently, this line includes the run-off of the institutional spread-based business, structured settlements blocks of business Bank-owned and corporateowned life insurance (Boli/coli) business and life reinsurance business in the united states. aegon has other blocks of business for which sales have been discontinued and of which the earnings are included in underlying earnings.

on april 26, 2011, aegon publicly announced the decision of its executive Board to divest its life reinsurance activities, transamerica reinsurance, to scor. these activities are no longer reported in underlying earnings but are reflected in the run-off businesses line in the segment reporting (both in 2011 and in 2010). more details on this transaction are given in note 18.

Reported Reclassification Revised EUR millions BOLI/COLI Reinsurance	Reported Reclassification Revised EUR millions BOLI/COLI Reinsurance	Reported Reclassification Revised EUR millions BOLI/COLI Reinsurance	Reported Reclassification Revised EUR millions BOLI/COLI Reinsurance	Reported Reclassification Revised EUR millions BOLI/COLI Reinsurance
Six months ended June 30, 2010 Underlying earnings before tax geographically	1,010	(25)	(56)	929
Fair value items Realized gains / (losses) on investments Impairment charges Impairment reversals Other income / (charges) Run-off businesses Income before tax Income tax (expense) / benefit Net income	(13) 274 (282) 55 (37) (109) 898 (113) 785	- - - - - 25 - - -	- - - - - 56 - - -	(13) 274 (282) 55 (37) (28) 898 (113) 785

Share in earnings of associates

earnings from the company’s associates in insurance companies in spain, india, Brazil and mexico are reported on an underlying earnings basis. other associates are included on a net income basis.

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3.2 investments geographically

at June 30, 2011

amounts in million EUR (unless otherwise stated) United Holding & Americas Kingdom The United New other Total USD GBP At June 30, 2011 Americas Netherlands Kingdom Markets activities Eliminations EUR	amounts in million EUR (unless otherwise stated) United Holding & Americas Kingdom The United New other Total USD GBP At June 30, 2011 Americas Netherlands Kingdom Markets activities Eliminations EUR	amounts in million EUR (unless otherwise stated) United Holding & Americas Kingdom The United New other Total USD GBP At June 30, 2011 Americas Netherlands Kingdom Markets activities Eliminations EUR
1,806 52 85,594 7,893 14,261 7 19,044 - 1,018 - 121,723 7,952 - 25,976 - 12,834 83,383 7,076 - 3,494 - 987 83,383 50,367 205,106 58,319 119,813 - 324,919 58,319	Investments Shares 1,245 632 57 70 - (2) Debt securities 59,035 16,194 8,740 2,047 - - Loans 9,836 17,932 8 658 - - Other financial assets 13,135 41 - 44 452 - Investments in real estate 702 2,011 - - - - Investments general account 83,953 36,810 8,805 2,819 452 (2) Shares - 7,975 28,763 3,304 - (6) Debt securities - 14,662 14,211 256 - - Separate accounts and investment funds 57,509 - 7,835 1,267 - - Other financial assets - 558 3,870 1,376 - - Investments in real estate - - 1,092 - - - Investments for account of policyholders 57,509 23,195 55,771 6,203 - (6) Investments on balance sheet 141,462 60,005 64,576 9,022 452 (8) Off balance sheet investments third parties 82,635 - - 33,132 - - Total revenuegenerating investments 224,097 60,005 64,576 42,154 452 (8)	2,002 86,016 28,434 13,672 2,713 132,837 40,036 29,129 66,611 5,804 1,092 142,672 275,509 115,767 391,276
100,337 7,882 14,261 7 - - 89,490 49,443 1,018 987 205,106 58,319	Investments Available-for-sale 69,203 16,654 8,727 1,899 5 - Loans 9,836 17,932 8 658 - - Held-to-maturity - - - 141 - - Financial assets at fair value through profit or loss 61,721 23,408 54,749 6,324 447 (8) Investments in real estate 702 2,011 1,092 - - - Total investments on balance sheet 141,462 60,005 64,576 9,022 452 (8)	96,488 28,434 141 146,641 3,805 275,509
118 8 29,023 5,735 234,247 64,062	Investments in associates 81 59 9 590 4 - Other assets 20,018 10,169 6,351 1,765 28,037 (26,617) Consolidated total assets 161,561 70,233 70,936 11,377 28,493 (26,625)	743 39,723 315,975

at december 31, 2010

amounts in million EUR (unless otherwise stated) United Holding & Americas Kingdom The United New other Total USD GBP At December 31, 2010 Americas Netherlands Kingdom Markets activities Eliminations EUR	amounts in million EUR (unless otherwise stated) United Holding & Americas Kingdom The United New other Total USD GBP At December 31, 2010 Americas Netherlands Kingdom Markets activities Eliminations EUR	amounts in million EUR (unless otherwise stated) United Holding & Americas Kingdom The United New other Total USD GBP At December 31, 2010 Americas Netherlands Kingdom Markets activities Eliminations EUR
1,737 53 89,687 7,917 15,249 8 17,481 - 974 - 125,128 7,978 - 25,470 - 13,573 79,308 6,393 - 3,250 - 976 79,308 49,662 204,436 57,640 115,297 - 319,733 57,640	I t t nves men s Shares 1,300 945 62 72 - (3) Debt securities 67,121 18,504 9,198 2,041 - - Loans 11,412 15,629 9 653 - - Other financial assets 13,083 40 - 45 293 - Investments in real estate 729 2,055 - - - - Investments general account 93,645 37,173 9,269 2,811 293 (3) Shares - 8,087 29,589 3,139 - (5) Debt securities - 14,435 15,768 223 - - Separate accounts and investment funds 59,353 - 7,427 1,309 - - Other financial assets - 536 3,775 1,467 - - Investments in real estate - - 1,134 - - - Investments for account of policyholders 59,353 23,058 57,693 6,138 - (5) Investments on balance sheet 152,998 60,231 66,962 8,949 293 (8) Off balance sheet investments third parties 86,287 12,353 - 25,126 - - Total revenuegenerating investments 239,285 72,584 66,962 34,075 293 (8)	2,376 96,864 27,703 13,461 2,784 143,188 40,810 30,426 68,089 5,778 1,134 146,237 289,425 123,766 413,191
102,792 7,899 15,249 8 - - 85,421 48,757 974 976 204,436 57,640	Investments Available-for-sale 76,929 19,261 9,177 1,879 4 - Loans 11,412 15,629 9 653 - - Held-to-maturity - - - 139 - - Financial assets at fair value through profit or loss 63,928 23,286 56,642 6,278 289 (8) Investments in real estate 729 2,055 1,134 - - - Total investments on balance sheet 152,998 60,231 66,962 8,949 293 (8)	107,250 27,703 139 150,415 3,918 289,425
114 8 27,165 5,415 231,715 63,063	Investments in associates 85 59 9 576 4 - Other assets 20,331 11,626 6,290 1,703 30,824 (28,629) Consolidated total assets 173,414 71,916 73,261 11,228 31,121 (28,637)	733 42,145 332,303

the decline in off balance sheet investments third parties in the netherlands reflect a transfer of third party asset management operations from aegon the netherlands to aegon asset management, included in new markets.

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4. premium income and premium to reinsurers

EUR millions Q2 2011 Q2 2010	Ytd 2011 Ytd 2010
Gross Life 3,850 4,570 Non-Life 651 694 Total 4,501 5,264	9,373 9,986 1,405 1,441 10,778 11,427
Reinsurance Life 380 371 Non-Life 87 91 Total 467 462	742 698 168 169 910 867

5. investment income

EUR millions Q2 2011 Q2 2010	Ytd 2011 Ytd 2010
Interest income 1,785 2,057 Dividend income 273 184 Rental income 41 45 Total investment income 2,099 2,286	3,622 3,934 501 357 87 87 4,210 4,378
Investment income related to general account 1,432 1,651 Investment income for account of policyholders 667 635 Total 2,099 2,286	2,903 3,141 1,307 1,237 4,210 4,378

6. results from financial transactions

EUR millions Q2 2011 Q2 2010	Ytd 2011 Ytd 2010
30 (26) Realized gains and losses on financial investments 277 184 Gains and (losses) on investments in real estate (15) (43) Net fair value change of derivatives (78) 553 Net fair value change on for account of policyholder financial assets at FVTPL 728 (5,736) Net fair value change on investments in real estate for account of policyholders 5 20 Net foreign currency gains and (losses) (1) 52 Net fair value change on borrowings and other financial liabilities (18) 18 Realized gains and (losses) on repurchased debt 4 - Total 932 (4,978) Net fair value change of general account financial investments at FVTPL other than derivatives	157 20 381 335 (26) (47) (601) 1,357 2,138 (498) 11 72 (9) 84 (10) (9) 4 - 2,045 1,314

net fair value changes on for account of policyholder financial assets at fair value through profit and loss are

offset by amounts in claims and benefits reported in the Benefits and expenses line (note 8).

7. other income

in 2011, other income mainly relates to a benefit related to a settlement of legal claims.

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8. Benefits and expenses

EUR millions Q2 2011 Q2 2010	Ytd 2011 Ytd 2010
Claims and benefits 6,945 2,009 Employee expenses 517 552 Administration expenses 313 274 Deferred expenses (371) (426) Amortization charges 355 231 Total 7,759 2,640	16,013 15,917 1,054 1,067 597 553 (758) (803) 712 706 17,618 17,440

claims and benefits includes the claims and benefits paid to policyholders, including claims and benefits in excess of account value for products for which deposit accounting is applied and the change in valuation of liabilities for insurance and investment contracts. claims and benefits increased

mainly as a result of changes in technical provisions resulting from fair value changes on for account of policyholder financial assets included in results from financial transactions (note 6).

9. impairment charges / (reversals)

EUR millions Q2 2011 Q2 2010	Ytd 2011 Ytd 2010
Impairment charges / (reversals) comprise: Impairment charges on financial assets, excluding receivables1 121 134 Impairment reversals on financial assets, excluding receivables1 (16) (31) Impairment charges / (reversals) on non-financial assets and receivables 1 3 Total 106 106	209 327 (42) (55) 3 4 170 276
Impairment charges on financial assets, excluding receivables, from: Shares 1 1 Debt securities and money market instruments 115 107 Loans 6 26 Other (1) - Total 121 134	3 4 185 276 15 47 6 - 209 327
Impairment reversals on financial assets, excluding receivables, from: Debt securities and money market instruments (14) (28) Loans (2) (3) Total (16) (31)	(38) (52) (4) (3) (42) (55)

1 Impairment charges / (reversals) on financial assets , excluding receivables , are excluded from underlying earnings before tax for segment reporting (refer to note 3).

10. other charges

in 2011, other charges includes an annual charge related to a bank tax charged by the Hungarian government of eur 20 million.

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11. intangible assets

EUR millions June 30,2011	Dec. 31,2010
Goodwill 636 VOBA 2,932 Future servicing rights 407 Software 29 Other 12 Total intangible assets 4,016	652 3,221 444 32 10 4,359

the decrease in goodwill and future servicing rights is mainly attributable to foreign currency effects. in addition, future servicing rights decreased due to amortization.

the decrease in value of business acquired (VoBa) is mainly attributable to foreign currency effects and amortization partly offset by the impact of shadow accounting.

12. investments

EUR millions June 30,2011	Dec. 31,2010
Available-for-sale (AFS) 96,488 Loans 28,434 Held-to-maturity (HTM) 141 Financial assets at fair value through profit or loss (FVTPL) 5,061 Financial assets, excluding derivatives 130,124 Investments in real estate 2,713 Total investments forgeneral account 132,837	107,250 27,703 139 5,312 140,404 2,784 143,188
Total financial assets, excluding derivatives AFS FVTPL HTM Loans Total Shares 981 1,021 - - 2,002 Debt securities 84,362 1,513 141 - 86,016 Money market and other short term investments 10,343 781 - - 11,124 Mortgages - - - 24,817 24,817 Private loans - - - 804 804 Deposits with financial institutions - - - 648 648 Policy loans - - - 1,995 1,995 Receivables out of share lease agreements - - - 21 21 Other 802 1,746 - 149 2,697 June 30, 2011 96,488 5,061 141 28,434 130,124
AFS FVTPL HTM Loans Total Shares 1,298 1,078 - - 2,376 Debt securities 94,936 1,789 139 - 96,864 Money market and other short term investments 10,141 659 - - 10,800 Mortgages - - - 23,781 23,781 Private loans - - - 829 829 Deposits with financial institutions - - - 748 748 Policy loans - - - 2,169 2,169 Receivables out of share lease agreements - - - 25 25 Other 875 1,786 - 151 2,812 Dec. 31, 2010 107,250 5,312 139 27,703 140,404

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government bond investments

included in our available for sale debt securities and money market investments are eur 949 million (December 31, 2010: eur 1,250 million) of exposures to the central governments of

the european peripheral countries of portugal, italy, ireland, greece and spain. the table below provides the amortized cost and fair value of these exposures.

EXPOSURE TO CENTRAL GOVERNMENTS OF EUROPEAN PERIPHERAL COUNTRIES	EXPOSURE TO CENTRAL GOVERNMENTS OF EUROPEAN PERIPHERAL COUNTRIES
EUR millions June 30,2011	Dec. 31,2010
Amortized cost Fair value Portugal 13 9 Italy 89 85 Ireland 32 24 Greece 4 4 Spain 811 745 Total 949 867	Amortized cost Fair value 33 32 114 112 37 32 58 45 1,008 904 1,250 1,125

13. investments for account of policyholders

EUR millions June 30,2011	Dec. 31,2010
Shares 40,036 Debt securities 29,129 Money market and short-term investments 2,275 Deposits with financial institutions 2,945 Separate accounts and unconsolidated investment funds 66,611 Other 584 Total investments for account of policyholders at fair value through profit or loss, excluding derivatives 141,580 Investment in real estate 1,092 Total investments for account ofpolicyholders 142,672	40,810 30,426 2,597 2,630 68,089 551 145,103 1,134 146,237

14. deferred expenses and rebates

EUR millions June 30,2011	Dec. 31,2010
participation features 10,636 371 Unamortized interest rate rebates 215 Total deferred expenses and rebates 11,222 DPAC for insurance contracts and investment contracts with discretionary Deferred transaction costs for investment management services	11,340 380 228 11,948

Deferred policy acquisition costs (Dpac) balances decreased, reflecting changes in foreign currency exchange rates,

amortization and the impact of shadow accounting partly offset by newly deferred expenses.

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15. share capital

EUR millions June 30,2011	Dec. 31,2010
Share capital - par value 310 Share premium 8,787 Total share capital 9,097	278 7,906 8,184
Share capital - par value Balance at January 1 278 Issuance 32 Balance 310	278 - 278
Share premium Balance at January 1 7,906 Issuance 881 Balance 8,787	7,906 - 7,906

on march 1, 2011, aegon completed the issue of 173,604,912 new common shares of aegon n.V. with a par value of eur 0.12. the shares were issued at a price of eur 5.20 per share. the proceeds of eur 903 million were used to fund part of the repurchase of the convertible core capital securities described in note 16.

on march 15, 2011, Vereniging aegon exercised its option rights to purchase 41,042,000 class B preferred shares at par value of eur 0.25 in order to avoid dilution of its voting rights following the issuance of 10% new common shares completed on march 1, 2011.

the new shares have been listed on euronext amsterdam, the principal market for aegon’s common shares.

16. Convertible core capital securities

aegon repurchased eur 1.5 billion in principal amount of the original eur 3 billion in convertible core capital securities from the Dutch state. the total payment to the Dutch state amounted to eur 2,250 million of which eur 1,500 million related to the repurchase of 375 million convertible core capital securities and eur 750 million related to the premium attached to this repurchase. this repurchase was completed in two equal tranches on march 15 and June 15 respectively.

With these transactions aegon has repurchased all of the eur 3 billion core capital securities issued to the Dutch state at the height of the financial crisis in 2008.

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17. Borrowings

EUR millions June 30,2011	Dec. 31,2010
Debentures and other loans 8,901 Commercial paper 420 Short term deposits 18 Bank overdrafts 70 Total borrowings 9,409	7,743 701 17 57 8,518

on april 14, 2011, aegon the netherlands sold eur 1.5 billion class a residential mortgage backed securities (rmBs) to a broad group of institutional investors. these securities consist of two tranches:

• eur 375 million of class a1 notes with an expected weighted average life of 1.9 years and priced at par with a coupon of three month euribor plus 0.95 %.

• eur 1,125 million of class a2 notes with an expected weighted average life of 4.9 years and priced at par with a coupon of three month euribor plus 1.35 %.

the securities were issued under the Dutch saecure program. the net proceeds were used to finance a part of the existing Dutch mortgage portfolio of aegon the netherlands.

Debentures and other loans increased due to the sale of these residential mortgage backed securities, partly offset by redemptions and negative impact of foreign currency exchange rates.

included in Debentures and other loans is eur 960 million relating to borrowings measured at fair value (2010: eur 987 million).

commercial paper, short term deposits and Bank overdrafts vary with the normal course of business.

18. Commitments and contingencies

see note 19 for litigation with respect to Koersplan products.

there have been no material changes in contingent assets and liabilities reported in the 2010 consolidated financial statements of aegon.

19. events after the balance sheet date

effective July 1, 2011, aegon entered into a joint venture contract with unnim, the entity which was created by the merger of caixa terrassa, caixa sabadell and caixa manlleu. aegon spain is the sole insurance partner of unnim to provide life and pension insurance products.

on July 26, 2011, the amsterdam court of appeal, an intermediate appeals court, ruled with respect to a specific aegon unit-linked product (Koersplan).

entailed an obligation on the part of customers to pay a premium for a death benefit.

However, the court ruled that aegon should have more clearly informed its customers about the amount of premium which the company charged in relation to the embedded death benefit. aegon acknowledges that its level of communication could have been better at the time and has subsequently taken steps to substantially improve its communications with customers.

the amsterdam court of appeal accepted aegon's positions that Koersplan products sold during the period 1989-1998

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in its decision, the court ruled that customers are required to pay a reasonable premium. However, the court went on to define what it considers to be a reasonable premium at a level below that charged by aegon. the court based its decision on a single industry example, which aegon believes is not representative. it is aegon’s view that, based on the arguments presented, the court's ruling was wrongly decided. aegon will appeal the decision to the supreme court in the netherlands.

on august 9, 2011, aegon completed the previously announced divestment of its life reinsurance business, transamerica reinsurance (tare), to scor. the divestment resulted in a total after-tax consideration of usD 1.4 billion, consisting of cash proceeds of usD 0.9 billion and a capital release of usD 0.5 billion.

aegon has retained certain blocks of business consisting primarily of variable annuity guarantee products with a book value of usD 0.4 billion.

the divestment of tare consists of a series of reinsurance agreements between various statutory insurance entities and scor for the us domestic business. in addition, scor has acquired transamerica international reinsurance ireland (tiri), a company that includes reinsurance contracts that are assumed by aegon us domestic companies which have been retroceded to tiri, and has taken over the operational assets and systems of tare.

structuring the transaction as a reinsurance arrangement leaves aegon exposed to a counter-party risk of scor not performing on the reinsurance contracts as the business matures. for such an event, certain levels of collateral related to the reinsured contracts have been placed in trust for aegon’s benefit. scor is rated a2/a by moody’s and standard & poor’s, both with positive outlooks.

the transaction will be accounted for primarily as a reinsurance transaction between aegon and scor. certain fixed assets and certain investment assets will be transferred with any related gain (loss) being recognized. as a result, the divestment will have no significant impact on shareholders’ equity. earnings on the business retained as well as amortization of the prepaid cost of reinsurance asset will be reflected in the run-off businesses line in aegon’s segment reporting.

the reinsurance business being retained by aegon, which is comprised primarily of the variable annuity guarantee business, is substantially hedged for financial market risks and produces normalized results which are negligible. in addition, various administration, service and asset management contracts are part of the transaction. the combined result, consisting primarily of the amortization of the prepaid cost of reinsurance, is approximately usD 40 million before tax per annum initially. these costs are expected to trend down as the contracts mature. transamerica reinsurance realized underlying earnings before tax of usD 105 million in 2010.

the business residing in transamerica international reinsurance, Bermuda (tire) has been retroceded to scor. tire will continue to provide reserve credit security for redundant reserves to aegon usa’s ceding companies. aegon will maintain approximately half of the collateral requirements needed for reinsurance reserve financing. this obligation provides reserve credit security and will run-off over approximately 15 years.

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management statement

the interim report for the six months ended June 30, 2011, consists of the condensed consolidated interim financial statements, the Q2 results release and the responsibility statement by the company’s executive Board. the information in this interim report is unaudited.

the executive Board is responsible for preparing the condensed consolidated interim financial statements in accordance with Dutch law and those international financial reporting standards (ifrs) as adopted by the european union (eu) and with ifrs as issued by the international accounting standards Board (iasB).

the executive Board declares that, to the best of its knowledge, the condensed consolidated interim financial statements which have been prepared in accordance with ias 34, “interim financial reporting”, as adopted by the eu, with ifrs as issued by the iasB, give a true and fair view of the assets, liabilities, financial condition and profit or loss of aegon n.V. and the undertakings included in the consolidation as a whole and that the Q2 results release includes a fair review of the information required pursuant to section 5:25d, subsections 8 and 9 of the Dutch financial markets supervision act (Wet op het financieel toezicht).

the Hague, august 10, 2011

a.r. Wynaendts chairman of the executive Board and ceo

J.J. nooitgedagt member of the executive Board and cfo

local knowledge. global power.

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to: the supervisory Board and the executive Board of aegon n.V.

review report

introduction

We have reviewed the accompanying condensed consolidated interim financial statements for the six month period ended June 30, 2011 of aegon n.V., the Hague, as set out on pages 2 to 19, which comprises the condensed consolidated statement of financial position as at June 30, 2011 and the condensed consolidated income statement, the condensed consolidated statement of comprehensive income, the condensed consolidated cash flow statement, the condensed consolidated statement of changes in equity and the related notes for the six month period then ended. We have not reviewed the income statement, the statement of comprehensive income and the statement of changes in equity for the three month period ended as at June 30, 2011 and 2010. management is responsible for the preparation and presentation of these condensed consolidated interim financial statements in accordance with ias 34, ‘interim financial reporting’ as adopted by the european union and as issued by the international accounting standards Board. our responsibility is to express a conclusion on these condensed consolidated interim financial statements based on our review.

a review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. a review is substantially less in scope than an audit conducted in accordance with Dutch auditing standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed consolidated interim financial statements as at and for the six month period ended June 30, 2011 is not prepared, in all material respects, in accordance with ias 34, ‘interim financial reporting’, as adopted by the european union as issued by the international accounting standards Board.

the Hague, august 10, 2011

scope of review

We conducted our review in accordance with Dutch law including standard 2410, ‘review of interim financial information performed by the independent auditor of the entity’.

ernst & Young accountants llp

signed by r.J.W. lelieveld

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Disclaimers

Cautionary note regarding non-gaap measures

this document includes non-gaap financial measures: underlying earnings before tax. the reconciliation of underlying earnings before tax to the most comparable ifrs measure is provided in note 3 “segment information” of this report. aegon believes that this non-gaap measure, together with the ifrs information, provide a meaningful measure for the investment community to evaluate aegon’s business relative to the businesses of our peers.

local currencies and constant currency exchange rates

this document contains certain information about our results and financial condition in usD for the americas and gBp for the united Kingdom, because those businesses operate and are managed primarily in those currencies. certain comparative information presented on a constant currency basis eliminates the effects of changes in currency exchange rates. none of this information is a substitute for or superior to financial information about us presented in eur, which is the currency of our primary financial statements.

forward-looking statements

the statements contained in this document that are not historical facts are forward-looking statements as defined in the us private securities litigation reform act of 1995. the following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, is confident, will, and similar expressions as they relate to our company. these statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. We undertake no obligation to publicly update or revise any forward-looking statements. readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. actual results may differ materially from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. such risks and uncertainties include but are not limited to the following:

• changes in general economic conditions, particularly in the united states, the netherlands and the united Kingdom;

• changes in the performance of financial markets, including emerging markets, such as with regard to:

• the frequency and severity of defaults by issuers in our fixed income investment portfolios; and

• the effects of corporate bankruptcies and/or accounting restatements on the financial markets and the resulting decline in the value of equity and debt securities we hold;

• � the frequency and severity of insured loss events;

• changes affecting mortality, morbidity, persistence and other factors that may impact the profitability of our insurance products;

• changes affecting interest rate levels and continuing low or rapidly changing interest rate levels;

• changes affecting currency exchange rates, in particular the eur/usD and eur/gBp exchange rates;

• increasing levels of competition in the united states, the netherlands, the united Kingdom and emerging markets;

• � changes in laws and regulations, particularly those affecting our operations, the products we sell, and the attractiveness of certain products to our consumers;

• regulatory changes relating to the insurance industry in the jurisdictions in which we operate;

• acts of god, acts of terrorism, acts of war and pandemics;

• changes in the policies of central banks and/or governments;

• � lowering of one or more of our debt ratings issued by recognized rating organizations and the adverse impact such action may have on our ability to raise capital and on our liquidity and financial condition;

• lowering of one or more of insurer financial strength ratings of our insurance subsidiaries and the adverse impact such action may have on the premium writings, policy retention, profitability of its insurance subsidiaries and liquidity;

• the effect of the european union’s solvency ii requirements and other regulations in other jurisdictions affecting the capital we are required to maintain;

• litigation or regulatory action that could require us to pay significant damages or change the way we do business;

• � customer responsiveness to both new products and distribution channels;

• competitive, legal, regulatory, or tax changes that affect the distribution cost of or demand for our products;

• the impact of acquisitions and divestitures, restructurings, product withdrawals and other unusual items, including our ability to integrate acquisitions and to obtain the anticipated results and synergies from acquisitions;

• our failure to achieve anticipated levels of earnings or operational efficiencies as well as other cost saving initiatives.

further details of potential risks and uncertainties affecting the company are described in the company’s filings with euronext amsterdam and the us securities and exchange commission, including the annual report on form 20-f. these forwardlooking statements speak only as of the date of this document. except as required by any applicable law or regulation, the company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forwardlooking statements contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

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corporate and shareholder information

headquarters

aegon n.V. p.o. Box 85 2501 cB the Hague the netherlands telephone + 31 (0) 70 344 32 10 www.aegon.com

publication date figures in 2011 and 2012

thursday, november 10, 2011 friday, february 17, 2012 thursday, may 10, 2012 thursday, august 9, 2012 thursday, november 8, 2012

results third quarter 2011 results fourth quarter 2011 results first quarter 2012 results second quarter 2012 results third quarter 2012

group Corporate Communications & investor relations

media relations

telephone + 31 (0) 70 344 89 56 e-mail gcc-ir@aegon.com

investor relations

telephone + 31 (0) 70 344 83 05 or 877 548 96 68 - toll free, usa only e-mail ir@aegon.com

aegon’s Q2 2011 press release and financial supplement are available on www.aegon.com.

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about aegon

throughout their working lives and into retirement, millions of people around the world rely on aegon to help them secure their long-term financial futures.

as an international life insurance, pension and asset management company, aegon has businesses in over twenty markets in the americas, europe and asia. aegon companies employ approximately 26,500 people and serve some 40 million customers across the globe.

aegon uses its strength and expertise to create added value for customers, shareholders, employees and the wider community. aegon does this by encouraging innovation and by growing its businesses profitably and sustainably.

aegon’s ambition is to be a leader in all its chosen markets by 2015.

local knowledge. global power.