In the light of the actions of the Federal Reserve Board, Aegon releases details of its exposure to AIG.
[node:field_featured_media:entity:field_media_image]- Aegon does not hold common equity in AIG.
- During 2008, Aegon has actively lowered its exposure to AIG by approximately 20%. As of September 18, 2008, Aegon had a total general account gross exposure of:
• EUR 189 million to the AIG holding company.
• EUR 311 million to AIG operating companies, including American General Finance, SunAmerica Life and International Lease Finance Corp. - Aegon believes that credit exposure to the AIG holding company requires a different assessment than exposure to the operating companies.
- Any effect of credit losses on Aegon’s excess capital and net income will be substantially lower as a result of a variety of factors, including taxes and recovery values.
- Aegon has limited counter party exposure to AIG through general insurance contracts. The potential effect of non-performance on these insurance contracts is not expected to have a material impact on the Group’s earnings or capital position.