THE HAGUE, Netherlands, March 24 /PRNewswire-FirstCall/ -- AEGON N.V.
(NYSE: AEG) has received a license from the Ministry of Finance of the Czech
Republic to start life insurance activities.
AEGON is entering the life insurance market of the Czech Republic with a
greenfield operation and intends to offer a range of products and services.
AEGON aims to open branches in the largest cities in the Czech Republic and
will also use the services of tied agents and independent brokers to sell and
distribute its products.
Mr. Boris Cuchran, who has wide experience in the insurance industry in
the region, has been appointed General Manager of the Czech operations.
"We are pleased with the opportunity to begin providing life insurance
solutions to customers in the Czech Republic," said AEGON Chairman Donald J.
Shepard. "This continues AEGON's previously stated growth strategy in the
important Central and Eastern European market."
AEGON's well-established business in Hungary serves as a platform for
cost-efficient expansion in Central and Eastern Europe. In 2003 AEGON
successfully entered the life insurance and pension market in neighboring
Slovakia.
About AEGON N.V.
AEGON N.V. is one of the world's leading listed life insurance companies
ranked by market capitalization and assets. AEGON's head office is in The
Hague, the Netherlands. At the end of 2004, AEGON companies employed about
27,000 people worldwide.
AEGON's businesses focus on life insurance and pensions, savings and
investment products. The group is also active in accident and supplemental
health insurance and general insurance, and has limited banking activities.
AEGON's three major markets are the United States, the Netherlands and the
United Kingdom. In addition, the group is present in a number of other
countries including Canada, Hungary, Slovakia, Spain and Taiwan. AEGON is also
active in China.
AEGON encourages product innovation and fosters an entrepreneurial spirit
within its businesses. New products and services are developed by local
business units, with a continuous focus on cost control, using a multi-brand,
multi-channel distribution approach to meet customers' needs.
Respect, quality, transparency and trust constitute AEGON's core values as
the company continually strives to not only meet, but exceed the expectations
of customers, shareholders, employees, business partners and other
stakeholders. Pursuing its mission of creating better financial futures for
all stakeholders, AEGON will continue to explore new opportunities for
profitable growth.
Forward-looking statements
The statements contained herein that are not historical facts are forward-
looking statements within the meaning of the Private Securities Litigation
Reform Act. Forward-looking statements are made based upon management's
current expectations and beliefs concerning future developments and their
potential effects upon the company. There can be no assurance that future
developments affecting the company will be those anticipated by management.
Actual results may differ materially from those included in the forward-
looking statements. These forward-looking statements involve risks and
uncertainties including, but not limited to, the following: (1) changes in
general economic conditions, including the performance of financial markets
and interest rates; (2) customer responsiveness to both new products and
distribution channels; (3) competitive, legal, regulatory, or tax changes that
affect the distribution cost of or demand for the company's products; (4) acts
of God; (5) terrorism and acts of war; (6) mortality, morbidity and other
factors that may affect the profitability of the company's insurance products;
and (7) the company's failure to achieve anticipated levels of earnings or
operational efficiencies as well as other cost-saving initiatives.
AEGON N.V.
Group Corporate Affairs & Investor Relations
The Hague, the Netherlands
Analysts & Investors +31 (0)70 344 83 05
Media +31 (0)70 344 83 44
E-mail gca-ir@aegon.com
Baltimore, the United States
Analysts & Investors +1 877 548 9668 (toll-free) / +1 410 576 4577
Media +1 410 576 4526
E-mail ir@aegonusa.com
Website: http://www.aegon.com
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SOURCE AEGON N.V.
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Related links:
http://www.aegon.com
CONTACT:
AEGON N.V. Group Corporate Affairs &
Investor Relations: The Hague, the Netherlands: Analysts &
Investors: +31 (0)70 344 83 05, Media: +31 (0)70 344 83 44,
gca-ir@aegon.com; or Baltimore, the United States: Analysts &
Investors: +1-877-548-9668, +1-410-576-4577, Media:
+1-410-576-4526, ir@aegonusa.com
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