Aegon USA Securities Inc history

The Meisjes-, Vrouwen- en Weduwenfonds ('Girls'-, Women's- and Widows fund) from 1828 is Aegon's earliest unofficial predecessor that sold life insurance based on actuarial science.

In 1831, Scottish Equitable was founded in Edinburgh.

From helping Dutch people pay for funerals 150 years ago to offering loans from a converted saloon in San Francisco; our history spans the world and stretches back all the way to 1844.

Another key predecessor is Het Groot-Noordhollandsch Begrafenisfonds, founded in 1845 by a pastor with the name Pfijfers.Couriers that collected premiums for burial funds were known to start their own businesses.

Although the first Dutch life insurance company was founded in 1807. It had barely any competition until 1850, when Aegon's predecessor Vennootschap voerende den naam Nederland was founded.

Algemeene Friesche hired its first clerk in 1855 – up until that point, the directors were in charge of all administrative tasks.

Formed in 1859, Nillmij served civil servants and military personnel in the Dutch colony.

Communications to customers was tough: Nillmij would publish in papers that they had, indeed, received premiums.1861 was a remarkable year for our UK business: Scottish Equitable's first customer, a Mr.

He used one company's equity capital to take up the loan capital of another, and declared personal bankruptcy in 1870.

The first female inspectors were hired in 1874, at a time when few women worked outside the home.

B. Janse Johanneszoon, a former naval officer, started the Eerste Nederlandsche, one of Aegon's primary predecessors, in 1882.

De Dordrecht got its first phone line in 1889, the same year that Olveh bought its first typewriters.

Disregarding previous questionable financial decisions, Venootschap agreed to a new office on the corner of Broadway and 18th street, which opened on January 4, 1893.

In 1903, Eerste Nederlandse started the Eerste Hypotheekbank ('First Mortgage Bank'). All mortgages had the option to include life insurance, with Eerste Nederlandsche of course.

Predecessor, Bank of Italy was one of the first banks to issue loans to help rebuild San Francisco after the 1906 fire.

In 1911, Nieuwe Eerste Nederlandsche started selling car insurance.

De Dordrecht sold their Hungarian business in January 1920, to nobody's surprise.

In a pamphlet from 1931, Eerste Nederlandsche wrote that it turned out that 'a life insurance policy with a strong company is considered a safer investment than owning stock'. Which is why most insurance companies saw some growth after all.

In the spring of 1938, Algemeene Friesche and Groot-Noordhollandsche joined forces by promising to meet each other's obligations in times of crisis.

Dutch life insurers joined forces in 1939 and decided to cut a maximum of 10% of all pay-outs, so they could pay out every policy and eliminate this difference between civilians and military personnel.

Nillmij accountant and clerk Willem Mica was conscripted as a soldier and lost his life in May 1940.

For the 1944 annual Christmas dinner at Algemeene Friesche and Groot-Noordhollandsche, an agent managed to purchase pork for split pea soup.

In April 1945, Canadian soldiers liberated Groningen.

In a global context, 1946 saw Bank of America (Transamerica's predecessor) as the largest private bank in the world.

In 1957, all insurers in Indonesia were nationalized and Nillmij merged with De Arnhem due to its financial difficulties.

And the decade even brought a few IPOs: in 1966, our first predecessor Eerste Nederlandsche was publicly traded.

Nillmij followed in 1968.

One year later, Ennia acquired National Old Line in Little Rock, Arkansas, USA. A year later in 1982, Ennia bought a minority share in Canadian Extendicare, which was sold a few years later.

Aegon was born on November 30, 1983 from the merger of AGO and Ennia.

By 1987, the company was one of the ten largest insurance companies in the country measured by premium income.

In March 1992, Aegon bought a 75% stake in Állami Biztosító, Hungary's former state-owned insurance company.

The competition grew - with Russian chess master Anatoly Karpov competing in 1996 (who was, coincidentally, beaten by a computer that same year). The competition, which was the largest computer chess tournament in the world - lasted a full week.

Aegon bought a 40% stake in the Scottish Equitable Life Assurance Society in the UK, later raising its stake to 100% in 1998.

In March 2001, Aegon announced it was expanding its United States health and life-insurance business by buying United States retailer J.C. Penney Co.'s direct-marketing services division for EUR 1.4 billion in cash.

In 2002, Aegon acquired the Dutch business TKP Pensioen.

Aegon also acquired Turkish life insurance and pension provider Ankara Emeklilik Anonim Sirketi in 2008, which is now known as Aegon Turkey.

In 2013, Aegon took over Eureko's life insurance and pension business in Romania, one of the largest providers of insurance and pensions in the country.

In 2017, asset management company, Akaan Transamerica received formal approval from the Mexican Banking and Securities Commission (CNBV) to initiate operations in the Mexican market.

Aegon also offered a USD 100 million US affordable housing debt fund, by Aegon USA Realty Advisors LLC (AURA), and announced in January 2018 which quickly was fully subscribed.

Aegon sold its stake in this partnership in 2019.

In November 2020, Aegon announced that it had agreed to sell its insurance, pension and asset management business in Hungary, Poland, Romania and Turkey for EUR 830 million to Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG).