Securities and Exchange Commission
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d/16
of the Securities Exchange Act of 1934
2591 TV THE HAGUE
Aegons press release, dated August 15, 2016, is included as appendix and incorporated herein by reference.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|Date: August 15, 2016||By|| |
/s/ J.O. van Klinken
|J.O. van Klinken|
|Executive Vice President and|
The Hague August 15, 2016
Aegon completes share buyback program
Aegon has completed the share buyback program announced on July 4, 2016. This program neutralized the dilutive effect of the 2015 final dividend paid in shares. The repurchased shares will be held as treasury shares and will be used to cover future stock dividends.
Between July 4, 2016 and August 12, 2016 a total of 29,258,662 common shares were repurchased, at an average price of EUR 3.5054 per share.
More detailed information about the program is available on aegon.com/sharebuyback.
|Media relations||Investor relations|
|Debora de Laaf||Willem van den Berg|
|+31 (0) 70 344 8730||+31 (0) 70 344 8405|
Aegons roots go back more than 170 years to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in more than 20 countries in the Americas, Europe and Asia. Today, Aegon is one of the worlds leading financial services organizations, providing life insurance, pensions and asset management. Aegons purpose is to help people achieve a lifetime of financial security. More information: aegon.com.
The Hague August 15, 2016
Cautionary note regarding non-IFRS measures
This document includes the following non-IFRS financial measures: underlying earnings before tax, income tax, income before tax and market consistent value of new business. These non-IFRS measures are calculated by consolidating on a proportionate basis Aegons joint ventures and associated companies. The reconciliation of these measures, except for market consistent value of new business, to the most comparable IFRS measure is provided in note 3 Segment information of Aegons Condensed Consolidated Interim Financial Statements. Market consistent value of new business is not based on IFRS, which are used to report Aegons primary financial statements and should not be viewed as a substitute for IFRS financial measures. Aegon may define and calculate market consistent value of new business differently than other companies. Aegon believes that these non-IFRS measures, together with the IFRS information, provide meaningful information about the underlying operating results of Aegons business including insight into the financial measures that senior management uses in managing the business. In addition, return on equity is a ratio using a non-IFRS measure and is calculated by dividing the net underlying earnings after cost of leverage by the average shareholders equity excluding the preferred shares, the revaluation reserve and the reserves related to defined benefit plans.
Local currencies and constant currency exchange rates
This document contains certain information about Aegons results, financial condition and revenue generating investments presented in USD for the Americas and Asia, and in 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 Aegon presented in EUR, which is the currency of Aegons primary financial 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 Aegon. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Aegon undertakes 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 Aegons fixed income investment portfolios;|
|||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 Aegon holds; and|
|||The effects of declining creditworthiness of certain private sector securities and the resulting decline in the value of sovereign exposure that Aegon holds;|
|||Changes in the performance of Aegons investment portfolio and decline in ratings of Aegons counterparties;|
|||Consequences of a potential (partial) break-up of the euro;|
|||Consequences of the anticipated exit of the United Kingdom from the European Union;|
|||The frequency and severity of insured loss events;|
|||Changes affecting longevity, mortality, morbidity, persistence and other factors that may impact the profitability of Aegons insurance products;|
|||Reinsurers to whom Aegon has ceded significant underwriting risks may fail to meet their obligations;|
|||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;|
|||Changes in the availability of, and costs associated with, liquidity sources such as bank and capital markets funding, as well as conditions in the credit markets in general such as changes in borrower and counterparty creditworthiness;|
|||Increasing levels of competition in the United States, the Netherlands, the United Kingdom and emerging markets;|
|||Changes in laws and regulations, particularly those affecting Aegons operations ability to hire and retain key personnel, taxation of Aegon companies, the products Aegon sells, and the attractiveness of certain products to its consumers;|
|||Regulatory changes relating to the pensions, investment, and insurance industries in the jurisdictions in which Aegon operates;|
|||Standard setting initiatives of supranational standard setting bodies such as the Financial Stability Board and the International Association of Insurance Supervisors or changes to such standards that may have an impact on regional (such as EU), national or US federal or state level financial regulation or the application thereof to Aegon, including the designation of Aegon by the Financial Stability Board as a Global Systemically Important Insurer (G-SII);|
|||Changes in customer behavior and public opinion in general related to, among other things, the type of products also Aegon sells, including legal, regulatory or commercial necessity to meet changing customer expectations;|
|||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 Aegons debt ratings issued by recognized rating organizations and the adverse impact such action may have on Aegons ability to raise capital and on its liquidity and financial condition;|
|||Lowering of one or more of insurer financial strength ratings of Aegons insurance subsidiaries and the adverse impact such action may have on the premium writings, policy retention, profitability and liquidity of its insurance subsidiaries;|
|||The effect of the European Unions Solvency II requirements and other regulations in other jurisdictions affecting the capital Aegon is required to maintain;|
|||Litigation or regulatory action that could require Aegon to pay significant damages or change the way Aegon does business;|
|||As Aegons operations support complex transactions and are highly dependent on the proper functioning of information technology, a computer system failure or security breach may disrupt Aegons business, damage its reputation and adversely affect its results of operations, financial condition and cash flows;|
|||Customer responsiveness to both new products and distribution channels;|
|||Competitive, legal, regulatory, or tax changes that affect profitability, the distribution cost of or demand for Aegons products;|
|||Changes in accounting regulations and policies or a change by Aegon in applying such regulations and policies, voluntarily or otherwise, which may affect Aegons reported results and shareholders equity;|
|||Aegons projected results are highly sensitive to complex mathematical models of financial markets, mortality, longevity, and other dynamic systems subject to shocks and unpredictable volatility. Should assumptions to these models later prove incorrect, or should errors in those models escape the controls in place to detect them, future performance will vary from projected results. The impact of acquisitions and divestitures, restructurings, product withdrawals and other unusual items, including Aegons ability to integrate acquisitions and to obtain the anticipated results and synergies from acquisitions;|
|||Catastrophic events, either manmade or by nature, could result in material losses and significantly interrupt Aegons business; and|
|||Aegons failure to achieve anticipated levels of earnings or operational efficiencies as well as other cost saving and excess capital and leverage ratio management initiatives.|
Further details of potential risks and uncertainties affecting Aegon are described in its filings with the Netherlands Authority for the Financial Markets and the US Securities and Exchange Commission, including the Annual Report. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, Aegon 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 Aegons expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.