AEGON N.V. (ADR) (NYSE:AEG)
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The Company's businesses focus on life insurance, pensions, savings, and investment products. The Company is also active in accident, supplemental health, general insurance and some limited banking activities.
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Revenue was not impressive on a YOY basis they did increase New life sales by 12%. Revenue-generating investments rose another 7%. The management has been in the process of implementing a number of cost-cutting measures, so far it has helped to reduce operating expenses by 4%. Recently Aegon was allowed to commence operation in Hubei, China, which is their ninth license in that country which is very respectable coverage ratio. Plans to reduce the number of administrative platforms should cut their processing time and increase productivity, which should also improve customer service.