content_image/293891.jpg content_image/293893.jpg content_image/293895.jpg content_image/293896.jpg
## Credit rating 

The ratings distribution of general account portfolios of Aegon’s major country units, excluding reinsurance assets, are presented in the table that follows, organized by rating category and split by assets that are valued at fair value and assets that are valued at amortized cost. Disclosure of ratings follows a hierarchy of S&P, Moody’s, Fitch, Internal and National Association of Insurance Commissioners (NAIC). 

<img src='content_image/293891.jpg'>

Includes investments of Holding and other activities 

<img src='content_image/293893.jpg'>

Includes investments of Holding and other activities 

<img src='content_image/293895.jpg'>

<img src='content_image/293896.jpg'>

