Form 6-K

 

 

Securities and Exchange Commission

Washington, D.C. 20549

 

 

Form 6-K

 

 

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d/16 of

the Securities Exchange Act of 1934

May 2016

 

 

AEGON N.V.

 

 

Aegonplein 50

2591 TV THE HAGUE

The Netherlands

 

 

 

Aegon’s press release, dated May 19, 2016, is included as appendix and incorporated herein by reference.

SIGNATURE

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.

 

     

AEGON N.V.

      (Registrant)
Date: May 20, 2016     By  

/s/ J.O. van Klinken

      J.O. van Klinken
      Executive Vice President and General Counsel

LOGO

The Hague – May 19, 2016

Aegon completes share buyback program of EUR 400 million

Aegon announces the completion of the second tranche of its EUR 400 million share buyback program. Between April 1 and May 19, 2016, the company repurchased 42 million shares at an average repurchase price of EUR 4.76 per share. The first tranche of EUR 200 million was completed on March 31, 2016.

In January, Aegon provided the market with a strategy update and 2018 financial targets at its Analyst & Investor Conference in London. At this conference, Aegon detailed its plans to increase capital returns to shareholders, which is underscored by the EUR 400 million share buyback and the 9% increase in the 2015 dividend.

As announced at Aegon’s first quarter 2016 results, Vereniging Aegon (Association Aegon) participated in the share buyback program by selling EUR 58 million of its common shares in Aegon in an off-market transaction with the company in order to maintain its level of voting rights. This transaction was completed today and was an integral part of the second tranche.

It will be proposed to shareholders tomorrow at Aegon’s Annual General Meeting, to cancel all shares repurchased under the share buyback program.

 

 

 

Media relations    Investor relations
Debora de Laaf    Willem van den Berg
+31 (0) 70 344 8730                +31 (0) 70 344 8405
gcc@aegon.com    ir@aegon.com

Aegon’s 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 world’s leading financial services organizations, providing life insurance, pensions and asset management. Aegon’s purpose is to help people achieve a lifetime of financial security. More information: aegon.com.

LOGO     

DISCLAIMERS

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 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 Aegon’s 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 Aegon’s investment portfolio and decline in ratings of Aegon’s counterparties;

 

•   Consequences of a potential (partial) break-up of the euro or the potential 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 Aegon’s 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 Aegon’s operations’ ability to hire and retain key personnel, 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 Aegon’s debt ratings issued by recognized rating organizations and the adverse impact such action may have on Aegon’s ability to raise capital and on its liquidity and financial condition;

 

•   Lowering of one or more of insurer financial strength ratings of Aegon’s 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 Union’s 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 Aegon’s operations support complex transactions and are highly dependent on the proper functioning of information technology, a computer system failure or security breach may disrupt Aegon’s 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 Aegon’s products;

 

•   Changes in accounting regulations and policies or a change by Aegon in applying such regulations and policies, voluntarily or otherwise, which may affect Aegon’s reported results and shareholders’ equity;

 

•   The impact of acquisitions and divestitures, restructurings, product withdrawals and other unusual items, including Aegon’s 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 Aegon’s business; and

 

•   Aegon’s 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 Aegon’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

 

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