content_image/155074.jpg content_image/155073.jpg
## Overview of Variable Annuities Europe 

Variable Annuities Europe’s legal entity is Aegon Ireland plc, located in Dublin. Its primary business line is variable annuities for Europe, active in the United Kingdom, Germany, France, and the Netherlands. In addition Aegon Ireland offers offshore bonds for the market in the United Kingdom. 

## Overview of sales and distribution channels 

In the United Kingdom and the Netherlands, Aegon Ireland does not employ a direct sales force, but works with the local sales forces of the Aegon companies. 

In Germany, Aegon Ireland has its own branch office in Frankfurt and employs a direct sales and customer service team. 

Sales in France are through AG2R La Mondiale. Aegon N.V. has a 35% stake in La Mondiale Participations, including the insurance entity with which Aegon Ireland cooperates. 

## Variable annuities 

Variable annuities are advised products distributed primarily through financial advisers and banks. 

In the United Kingdom, Aegon’s distribution channels are the Aegon Retirement Choices (ARC) platform – an online service that allows financial advisers to manage their clients' investment portfolios – banks, and financial advisers. 

Aegon Ireland launched its first variable annuity product in Germany in August 2013. Key distribution channels are broker pools and financial adviser networks, serviced through the branch office in Frankfurt. 

In France, AG2R La Mondiale sells a single variable annuity product, of which the guaranteed lifetime income option is reinsured to Aegon Ireland. The product is sold through AG2R La Mondiale’s own internal networks and through platforms to financial advisers and banks. 

In the Netherlands, a single variable annuity product is distributed through Aegon’s local banking and financial adviser channels. 

## Offshore bonds 

Offshore bonds are offered exclusively in the United Kingdom and distributed through Aegon’s ARC platform, other third party platforms, banks, and financial advisers. 

<img src='content_image/155074.jpg'>

## Overview of business lines Variable annuities 

Variable annuity products are essentially unit-linked life insurance products with guarantees. They typically offer a range of investment fund options linked in proportions selected by the policyholder to equities and fixed interest investments. The guarantees may take several different forms, from guarantees of a minimum level of future income for life (immediate or deferred) or a given term to capital guarantees over a defined period and death benefits. Charges for the guarantees are applied to the policyholder’s account value and typically vary according to the proportion of equity investment. 

Variable annuities allow a customer to participate in equity or bond market performance with the assurance of a minimum level of future benefit, regardless of the performance of their account. Variable annuities allow a customer to select payout options designed to help meet their need for income upon maturity, including lump sum payment or income for life or a period of time. 

Premiums paid on variable annuity contracts are invested in underlying funds, including bond and equity funds and, usually, a cash fund. For most products, the client selects investment options based on the their preferred level of risk. The assets related to this product are segregated for the benefit of policyholders in separate accounts of the insurance company. 

The account value of variable annuities reflects the performance of the funds. The insurance provider earns administration and expense charges, as well as guarantee charges for the guaranteed benefits. 

## Offshore bonds 

Offshore Wealth Management products are open-ended unit-linked life insurance products. They offer a wide range of investment choices, allowing investment into a very large range of external assets, such as collective investment schemes, unit trusts, and open-ended investment companies (OEICs), together with internal unit-linked funds managed by Aegon Ireland and cash deposits. 

<img src='content_image/155073.jpg'>

