Managing risk sits at the heart of everything we do as an insurer. Each day, we apply our expertise – whether we're assessing potential policyholders or balancing our investment portfolio – to carefully navigate the fine line between risk and return. This approach helps us meet the needs of our customers and fulfill our promises to them.
Rising expectations for transparency
As risks grow more complex, stakeholders – like regulators, clients and investors – increasingly expect companies like Aegon to become more transparent about how risks are identified, managed and disclosed.
As an insurer, a key set of risks relates to sustainability, spanning issues from mitigating the impacts of climate change to protecting the data of millions of customers. As stakeholder expectations continue to rise, greater transparency around how we manage these risks is becoming increasingly important.
Important for clients
“Strong sustainability risk management credentials are often important for large institutional clients,” according to Alan Waller, Aegon’s ESG Ratings and Sustainability Benchmark Manager. “These clients invest large sums of money with our businesses, so they need confidence in our ability to manage a broad range of risks, including those related to sustainability.”
Aegon’s increased transparency around how it manages sustainability-related issues was recognized several times in 2025. In September, for example, benchmarking organization, MSCI, awarded Aegon its highest possible ESG rating: AAA.
Each year, Aegon conducts a dedicated assessment to identify key sustainability-related issues and then outlines how these are addressed in the company’s annual report. Benchmarking organizations, such as MSCI, independently assess companies like Aegon on their material sustainability topics and how effectively they are managed. “Alignment between our internal assessments and third‑party evaluations helps build confidence in the robustness of our approach,” Waller said.
Opening doors to ESG‑focused investors
According to Mathijs Lindemulder, Head of Responsible Investment and Corporate Strategy at Aegon Asset Management for Continental Europe, a triple A MSCI rating can also enhance Aegon’s visibility among certain groups of investors.
“This recognition opens Aegon up to investors that allocate capital through passive strategies such as index funds and Exchange-Traded Funds that only include top-rated companies,” he explained. “Inclusion in these ESG-focused indices can help drive investment flows into our stock.”
Lindemulder noted that MSCI ratings are one of the most widely recognized ratings of their kind among investors. “MSCI is a leading benchmarking organization for ESG,” he said.
Greater transparency about our sustainability approach also contributed to our inclusion in the S&P Sustainability Yearbook 2026, which recognizes companies that perform strongly against selected sustainability criteria, and in the FTSE4Good Index, a series of ethical stock market indices.
“Like our MSCI rating, inclusion in the S&P Sustainability Yearbook 2026 and FTSE4Good Index helps support investor confidence and differentiate Aegon in the eyes of our clients. These third-party assessments reflect the strength of our governance and risk management processes, and demonstrate that we continue to make progress,” said Waller.
An opportunity to improve further
Our efforts to manage sustainability-related issues sit within our broader approach to sustainability. As both an investor and provider of financial products and services, we recognize our responsibility to address issues that impact society, the environment, and our business performance. This includes a continued focus on improving the quality, consistency, and transparency of our sustainability reporting and disclosures.
“While external recognition is something to celebrate, it is first and foremost an opportunity to learn as we work to continue strengthening our approach to sustainability,” Waller added.