Aegon Annual Report 2012

Annual Report 201231Overview AmericasAegon Americas comprises Aegon USA, Aegon Canada and the group’s operationsin Brazil and Mexico.Aegon USAAegon USA is one of the leading 1 life insurance organizationsin the United States and is the largest of Aegon’s operatingunits. Aegon USA administers millions of policies and employsapproximately 11,000 people. Aegon USA companies cantrace their roots back as far as the mid-19th century. AegonUSA operates under one of the best known names 2 in the USinsurance business: Transamerica. Aegon USA’s main offices arein Cedar Rapids, Iowa, and Baltimore, Maryland, with affiliatedcompanies’ offices located throughout the United States.Through these subsidiaries and affiliated companies, Aegon USAprovides a wide range of life insurance, pensions, long-termsavings and investment products.Like other Aegon companies around the world, Aegon USA usesa variety of distribution channels to ensure customers can accessthe products in a way that best suits their needs. Aegon USA haslong-standing relations with banks across the United States, andalso distributes products and services through other channels:agents, broker-dealers, specialized financial advisers, the internetas well as direct and worksite marketing.Aegon CanadaBased in Toronto, Aegon Canada offers a range of insuranceproducts and financial services, primarily through itsTransamerica Life Canada subsidiary. At December 31, 2012,Aegon Canada had approximately 600 employees.Aegon BrazilIn 2009, Aegon acquired a 50% interest in Mongeral Aegon S.A.Seguros e Previdência, Brazil’s sixth largest independent lifeinsurer. At December 31, 2012, Aegon Brazil had approximately400 employees.Aegon MexicoIn 2006, Aegon acquired a 49% interest in Seguros Argos S.A. deC.V., a Mexican life insurance company. At December 31, 2012,Aegon Mexico had approximately 200 employees.Business is conducted through its subsidiaries. Aegon USA hasoperating licenses in every US state, the District of Columbia,Puerto Rico, the Virgin Islands and Guam.Aegon USA’s primary insurance subsidiaries are: Transamerica Life Insurance Company Transamerica Financial Life Insurance Company Transamerica Advisors Life Insurance Company Transamerica Advisors Life Insurance Company of New York Monumental Life Insurance Company Stonebridge Life Insurance Company Stonebridge Casualty Insurance Company Western Reserve Life Assurance Co. of OhioAegon’s subsidiary companies in the United States contain threebusiness lines acting through one or more of the Aegon USA lifeinsurance companies: Life & Protection Individual Savings & Retirement Employer Solutions & PensionsThese lines of business, which are described in further detailbelow, represent groups of products that are sold throughAegon USA’s operating companies by various distributionmethods and sales channels. The business structure is designedto enable Aegon USA to manage and improve the efficiency ofthe organization and operating processes, to identify businesssynergies and to pursue cross-selling opportunities. Coordinatedsupport services complement operations by providing functionalsupport in systems technology, investment management,regulatory compliance, and various corporate functions.Products are also offered and distributed through one ormore of the Aegon USA licensed insurance or brokeragesubsidiary companies.Aegon CanadaIn Canada, Aegon has two main operating subsidiaries: Transamerica Life Canada Canadian Premier LifeOrganizational structureAegon USAAegonUSA was founded in 1989 when Aegon brought allof its operating companies in the United States under asingle financial services holding company, Aegon USA, LLC.1 Source: LIMRA.2 Source: Brand Power Analysis.