Condensed consolidated interim
for the three-month period
March 31, 2022
Notes to the Condensed consolidated
interim financial statements
Amounts are in EUR millions, unless otherwise
Aegon N.V., incorporated and domiciled in the Netherlands, is a
public limited liability company organized under Dutch law and
recorded in the Commercial Register of The Hague under number
27076669 and with its registered address at Aegonplein 50, 2591 TV,
The Hague, the Netherlands. Aegon N.V. serves as the holding
company for the Aegon Group and has listings of its common shares
in Amsterdam and New York.
Aegon N.V. (or ‘the Company’) and its subsidiaries (‘Aegon’ or ‘the
Group’) have life insurance and pensions operations and are also
active in savings and asset management operations, accident and
health insurance, general insurance and to a limited extent banking
operations. Aegon focuses on three core markets (the United States,
the Netherlands, and the United Kingdom), three growth markets
(Spain & Portugal, China, and Brazil) and one global asset
manager. Headquarters are located in The Hague, the Netherlands.
The Group employs over 21,000 people worldwide.
1. Basis of presentation
The condensed consolidated interim financial statements as at, and
for the three-month period ended, March 31, 2022 (‘first
quarter 2022’ or ‘1Q 2022’), have been prepared in accordance with
IAS 34 ‘Interim Financial Reporting’, as adopted by the European
Union (hereafter ‘EU-IFRS’). They do not include all of
the information required for a full set of financial statements
prepared in accordance with EU-IFRS and should therefore be read
together with the 2021 consolidated financial statements of Aegon
N.V. as included in Aegon’s Integrated Annual Report for 2021.
Aegon’s Integrated Annual Report for 2021 is available on its
The condensed consolidated interim financial statements have been
prepared in accordance with the historical cost convention as
modified by the revaluation of investment properties and those
financial instruments (including derivatives) and financial
liabilities that have been measured at fair value. The condensed
consolidated interim financial statements as at, and for the
three-month period ended, March 31, 2022, were approved by the
Supervisory Board on May 11, 2022.
The condensed consolidated interim financial statements are
presented in euro (EUR) and all values are rounded to the nearest
million unless otherwise stated. The consequence is that the
rounded amounts may not add up to the rounded total in all
The published figures in these condensed consolidated interim
financial statements are unaudited.
2. Significant accounting policies
All accounting policies and methods of computation applied in the
condensed consolidated interim financial statements are the same as
those applied in the 2021 consolidated financial statements. New
IFRS accounting standards and amendments that became effective on
or after January 1, 2022 had no material impact on Aegon’s
financial position or condensed consolidated interim financial
statements (refer to paragraph 2.1).
2.1 New IFRS accounting standards effective
In 2022, the following amendments to existing standards issued by
the IASB became effective:
◆ IAS 37 Provisions,
Contingent Liabilities and Contingent Assets;
◆ IAS 16 Property, Plant
and Equipment; and
◆ IFRS 3 Business
2.2 Future adoption of new EU-IFRS accounting standards and
For a complete overview of IFRS standards and amendments issued
before January 1, 2022, which will be applied in future years
and were not early adopted by the Group, please refer to Aegon’s
Integrated Annual Report for 2021.
The IASB did not issue new amendments to its current standards in
the three-month period ended, March 31, 2022.