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  1. Content Introduction

  2. Positioning AEGON

  3. AEGON Strong Presence in CEE 1992 2003 2005 2005 2007 2008 Hungary Slovakia Czech Republic Poland Romania Turkey

  4. AEGON in Hungary - market leader position • AEGON ranked 2nd in the mandatory and 3rd in the voluntary pension fund market • 803 THS members, combined assets of EUR 2.2 billion Growth of members (2002-2009) Growth of AuM (2002-2009) 2X 7X • AEGON’s AuM grew much faster(7 times) than the market's (4.5 times) • AEGON’s member base grew much faster (2 times) than the market's (1.2 times)

  5. 20% 16% AEGON in Hungary - growing business AEGON’s market share -members (2002-2009) • 3 million MPT members • EUR 9.3 billion assets

  6. Targeted Sales and Marketing Strategy

  7. Recent trends

  8. Part I: What happened during the crisis?

  9. Part I: Much ado about nothing AEGON’s performance (growth portfolio) • Investment returns almost recover

  10. Part I: Return to Pay As You Go • 52 years old and older could return to PAYG • Time limit: December 31st 2009 • Market: 69,000 members – 428 bill. EUR • AEGON: 14,000 members 

  11. Part II: Falling Assets and PF Income

  12. Part III: Unfavorable legislation: Lower PF Income

  13. Part IV: The Transfer Market Sped Up

  14. Part III: The numbers tell it all… Lapse Rate(2007-2009) Commission (2002-2009) 4X 3X 7% • Almost 220,000 switching members in 2009 • The ratio of transfers reached 7% in 2009 • 8% is critical • Brokers dictate conditions • Lower value entrants

  15. Part III: Protection and Regulation of AEGON

  16. Part III: Governmental response – Transfer Limitations

  17. Summary

  18. Long Term stability in conditions

  19. Q&A For further questions please contact ludvai.judit@aegon.com