Ken Cochrane

1

• Ken Cochrane
• Senior Vice President - National Sales Director
• May 9 - 10, 2002

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Purpose of RSU

• Help you sell retirement plans
• Network with peers
• TRS wants your ideas
• TRS products and resources

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RSU Success

• 80 increased preferred producer status
• 12 have become Big Kahunas

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RSU Producer Feedback

• NAV Product
• Lower MVE minimums
• Asset Allocation Funds
• SFD on Alliance Service business
• More competitive contract asset charges on
  larger plans

5

• Tom Schlossberg
• President
• May 9 - 10, 2002

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• AEGON

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AEGON NV A multi-national company
Germany
UK
Netherlands
Belgium
Canada
Japan
USA
Luxembourg
China
Taiwan
Hungary
Spain
Philippines
Italy
India
8
AEGON NV Consistent, Successful Strategy
Commitment to Core Business Life Insurance,
Pensions and Related Financial Products
Decentralized Organization Local Management,
Multi-channel Distribution, Multi-branding Emphas
is on Profitability Autonomous Earnings
Growth gt 10 annually ROI gt 12 divest under
performers Low Cost Provider Risk Management
Discipline International Expansion Strategy
Boost Growth, Synergies, ROI gt 11
9
AEGON NV
Top Ranked International Ins. Grp.
Market Capitalization of Listed Insurers Worldwide
1.
American Intl Group
214.1
2.
Allianz
65.9
3.
ING
61.4
4.
AXA
44.2
5. AEGON 39.3
6.
36.1
Generali
7.
Allstate
29.9
8.
CGNU
26.6
Met Life
9.
24.3
10.
Prudential UK
22.2
In billion EURO as of March 26, 2002
10
AEGON NVSnapshot in Time
2001
1991

• Share Price 2.70
• Market Cap 2.5 bln
• Assets 32.4 bln
• Net Income 0.4 bln
• Life Premiums 1.9 bln
• Gross Deposits 1.8 bln
• Employees 11,090

• Share Price 30.40
• Market Cap 43.2 bln
• Assets 264.1 bln
• Net Income 2.4 bln
• Life Premiums 18.3 bln
• Gross Deposits 30.6 bln
• Employees 25,663

latest 12 months
Amounts in Euros except employees
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AEGON NV 2001 Results
Increase over Prior Year
Income before Tax 3,243 14
Net Income 2,397 16 Earnings per
share 1.76 12
Euro millions (except for per share data)
12
AEGON NV
Focused on multi-national growth
Pre-Tax Earnings Contribution
Full Year 1996
Full Year 2001
7
10
33
61
2
3
27
58
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AEGON Americas
Organizational Structure
Decentralized Organization
AEGON USA, Inc.
Agency Group Pat Baird
Alternative Markets Group
Pension Group Tom Schlossberg
Financial Markets Group Larry Norman
Institutional Products And Services Group Doug
Kolsrud

• Close to Customer
• Market Driven
• Entrepreneurial

Monumental Division Henry Hagan
Special Markets Group Marilyn Carp
AEGON Institutional Markets Rudy Gernert
Financial Markets Division Larry Norman
Diversified Investment Advisors Mark Mullin
Transamerica Reinsurance Paul Rutledge
AEGON Financial Partners
Transamerica Capital Dave Bullock
Long Term Care Jan Soppe
Transamerica Retirement Services Tom Schlossberg
LIICA/ISI Mike Kirby
Worksite Marketing Alan Warrick
Transamerica Investment Management John Riazzi
Transamerica Insurance Investment Group Ron
Wagley
World Financial Group Tim Stonehocker
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AEGON USAUS insurer rankings
2000 year-end total admitted assets
2000 net premiums written
In Millions
In Billions
220.2 217.2 138.3 125.5
119.0 104.1 102.4 99.1
98.2 92.1
1 Met Life 2 Prudential of America 3
Hartford Life 4 AEGON USA 5 TIAA Group
6 AIG 7 ING Group 8 American
General 9 New York Life 10
Northwestern Mutual
1 MetLife 2
ING Group 3 AIG 4 AEGON
USA 5 Hartford Life
6 Nationwide Group 7 CIGNA 8
Prudential of America 9
Principal Life 10 New York Life
30,571 23,999 23,497 23,044
18,555 18,192 17,467 16,957
15,653 13,538
Source 2000 A.M. Best Survey
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AEGON USAStrong Presence Products Distribution

• Products
• Traditional Life
• Variable Universal Life
• Fixed Annuities
• Variable Annuities
• Synthetic GICs
• Traditional GICs
• Long Term Care
• Medicare Supplement
• Mortgage Life
• Reinsurance

• Distribution
• Independent and Employee Agents
• Direct Selling
• Financial Institutions
• Marketing Companies
• Brokers
• Third Party Administrators
• Wirehouses
• Credit Unions

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AEGON AmericasPre-Tax Income
USD mm
2,034
2,100
1,870
1,800
1,418
1,500
1,200
1,019
900
721
600
439
351
304
281
231
300
166
138
113
0
2001
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
1989
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AEGON AmericasSnapshot in Time
December 31, 2001
1991

• Assets 14.0 bln
• Net Income 0.1 bln
• Life Premiums .51 bln
• Gross Deposits 2.0 bln
• Employees 3,430

• Assets 143.6 bln
• Net Income 1.4 bln
• Life Premiums 7.0 bln
• Gross Deposits 23.6 bln
• Employees 12,989

latest 12 months
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AEGON Americas
Earnings by Line of Business
12/31/01
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AEGON Americas Strengths

• Decentralization
• Market presence
• Diversification
• Strong distribution
• Excellent ALM risk controls

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• Ken Cochrane
• Senior Vice President - National Sales Director
• May 9 - 10, 2002

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Retirement Services University

• Prelude

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Opportunity

• Shift from Defined Benefit Plans to Defined
  Contribution Plans - shift in responsibility
• Increasing Life Spans
• Social Security Under-funding

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Opportunity

• Retirement Gap
• 80 of pre-retirement income is needed to
  maintain standard of living
• 73 expect to live comfortably in retirement
• 2.2 personal savings rate

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Opportunity

• Decade of the Retirement Plan
• Baby Boomers
• Favorable Legislative Environment
• Lack of better alternatives

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TRS A High Growth Business

• Maximize Strategic Position in 2002
• Shift more Signature Service Sales to Alliance
  Service Sales
• Change Product to be more profitable on small
  case and more competitive on large cases
• Use additional profitability to increase
  competitiveness, and/or producer compensation to
  drive more sales

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TRS A High Growth Business

• Alliance Services
• Set up Fee Waiver
• Service Fee Discount
• Working closely with the Alliance Partners to
  improve services

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TRS A High Growth Business

• Director Series I Product
• Launched February 2002
• Tiered Structure -
• Greater profitability in Tier 1 (lt 75,000)
• More competitive in Tier 3 (gt 500,000)
• Greater Fund Flexibility
• Product Grows with the plan

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TRS A High Growth Business

• Enhanced Broker Compensation
• Comp Plus
• 1000 every 3rd plan
• 250 for every 250,000 of first year assets
• Preferred Producer Program
• Designed to help you grow your business

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TRS A High Growth Business

• Additional Product Offerings
• TPA Series
• Snap on Payroll
• Multiple Employer Plan/PEO
• Additional Services
• ERISA Help Desk
• Customer Direct
• Internal Sales Desk
• New Web Sites

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Market Positioning

• Plan Design - Best in Class

• Proprietary Funds - Best in Class

• Product Flexibility - Best in Class

• Broker Support - Best in Class

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Todays Agenda

• Plan Design
• ERISA Review and Training, NCP, Fiduciary
  Issues, Advanced Plan Design
• Proprietary Funds
• Chris Bonavico - Manager Transamerica Aggressive
  Growth and Small Company Funds

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Fridays Agenda

• Product
• Review Products and Services
• Broker Support
• A Look Inside the Pyramid
• Producer Feedback