Shareholders' equity (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Issued Share Capital and Reserves Attributable to Shareholders


	Note		2018			2017			2016
Share capital – par value		32.1		322			322			319
Share premium		32.2		7,487			7,731			7,873
Total share capital				7,808			8,053			8,193
Retained earnings				9,995			9,699			7,609
Treasury shares		32.3		(337	)		(325	)		(190	)
Total retained earnings				9,657			9,374			7,419
Revaluation reserves		32.4		3,461			4,920			5,381
Remeasurement of defined benefit plans		32.5		(1,850	)		(1,669	)		(1,820	)
Other reserves		32.6		149			(390	)		1,347
Total shareholders’ equity				19,225			20,288			20,520

Schedule of Share Capital Transactions Relating To Common Shares A


Share capital transactions relating to common shares A	2018			2017			2016
	Number of shares (thousands)			Number of shares (thousands)			Number of shares (thousands)
Transactions in 2018:
Final dividend 2017 ¹		(21,954	)
Share buyback program (final dividend 2017)		21,954
Interim dividend 2018 ¹		(24,134	)
Share buyback program (interim dividend 2018)		24,134

Transactions in 2017:
Final dividend 2016 ¹					(26,916	)
Interim dividend 2017 ²					(24,948	)
Issuance of common shares with a par value of EUR 0.12					21,099
Share buyback program (final dividend 2016 and interim dividend 2017)					51,865

Transactions in 2016:
Final dividend 2015 ²								(29,259	)
Issuance of common shares with a par value of EUR 0.12								9,122
Share buyback program (final dividend 2015)								29,259
Interim dividend 2016 ²								(30,765	)
Issuance of common shares with a par value of EUR 0.12								1,507
Share buyback program (interim dividend 2016)								30,765

¹ Dividend distribution paid from treasury shares (note 32.3)

² Dividend distribution paid from treasury shares (note 32.3) and issuance of common shares performed in the year.

Summary of Share Capital - Par Value

Share capital – par value



	2018		2017		2016
Common shares		251		251		249
Common shares B		70		70		70
At December 31		322		322		319



Common shares	2018		2017		2016
Authorized share capital		720		720		720
Number of authorized shares (in million)		6,000		6,000		6,000
Par value in cents per share		12		12		12



Common shares B	2018		2017		2016
Authorized share capital		360		360		360
Number of authorized shares (in million)		3,000		3,000		3,000
Par value in cents per share		12		12		12


	Common shares						Common shares B
	Number of shares						Number of shares
	(thousands)			Total amount			(thousands)		Total amount
At January 1, 2016		2,147,037			258			585,022		70
Dividend		10,629			1			-		-
Shares withdrawn		(83,117	)		(10	)		-		-
At December 31, 2016		2,074,549			249			585,022		70
Dividend		21,099			3			-		-
At December 31, 2017		2,095,648			251			585,022		70
Dividend		-			-			-		-
At December 31, 2018		2,095,648			251			585,022		70

The table below represents weighted average number of common shares including treasury shares attributable to Aegon N.V.:


	Weighted average number of common shares (thousands)		Weighted average number of common shares B (thousands)
2016		2,129,074		585,022
2017		2,080,792		585,022
2018		2,095,648		585,022

Summary of Share Premium


	2018			2017			2016
At January 1		7,731			7,873			8,059
Share dividend		(244	)		(142	)		(186	)
At December 31		7,487			7,731			7,873

Share premium relating to:
- Common shares		5,834			6,078			6,220
- Common shares B		1,653			1,653			1,653
Total share premium		7,487			7,731			7,873

Summary of Movements in the Number of Treasury Common Shares

Movements in the number of treasury common shares held by Aegon N.V. were as follows:


	2018						2017						2016
	Number of shares (thousands)			Amount			Number of shares (thousands)			Amount			Number of shares (thousands)			Amount
At January 1		64,488			314			47,473			178			42,998			257

Transactions in 2018:
Sale: transactions, average price 3.76		(3,070	)		(12	)
Sale: 1 transaction, average price 4.62		(21,954	)		(101	)
Purchase: 1 transaction average price 5.34		21,954			117
Sale: 1 transaction, average price 5.09		(24,134	)		(123	)
Purchase: 1 transaction average price 5.43		24,134			131

Transactions in 2017:
Sale: transactions, average price EUR 3.44								(4,085	)		(14	)
Sale: 1 transaction, average price EUR 3.68								(26,916	)		(99	)
Sale: 1 transaction, average price EUR 3.77								(3,849	)		(14	)
Purchase: 1 transaction, average price EUR 5.09								51,865			263

Transactions in 2016:
Purchase: transactions, average price EUR 4.81														83,117			400
Sale: transactions, price average EUR 6.49														(6,153	)		(40	)
Sale: 1 transaction, price EUR 6.38														(20,137	)		(129	)
Purchase: transactions, average price EUR 3.51														29,259			103
Sale: 1 transaction, price EUR 5.11														(29,259	)		(150	)
Shares withdrawn: 1 transaction, price EUR 4.60														(83,117	)		(382	)
Purchase: transactions, average price EUR 3.84														30,765			118
At December 31		61,418			326			64,488			314			47,473			178

Movements in the number of treasury common shares B held by Aegon N.V. were as follows:


	2018					2017						2016
	Number of shares (thousands)			Amount		Number of shares (thousands)			Amount			Number of shares (thousands)		Amount
At January 1		15,346			2		17,325			2			-		-

Transactions in 2018:
Sale: 1 transaction, average price EUR 0.11		(1,489	)		-

Transactions in 2017:
Sale: 1 transaction, average price EUR 0.11							(1,979	)		-
Sale: 1 transaction, average price EUR 0.11							(13,043	)		(1	)
Purchase: 1 transaction, average price EUR 0.13							13,043			2

Transactions in 2016:
Purchase: transactions, average price EUR 0.11													17,325		2
At December 31		13,856			2		15,346			2			17,325		2

Summary of Treasury Shares


2018					2017					2016
	Number of shares (thousands)		Total amount			Number of shares (thousands)		Total amount			Number of shares (thousands)		Total amount
Common shares
Held by Aegon N.V.		61,418		326			64,488		314			47,473		178
Held by subsidiaries		1,144		9			1,162		9			1,307		10

Common shares B
Held by Aegon N.V.		13,856		2			15,346		2			17,325		2
At December 31		76,419		337			80,996		325			66,105		190

Summary of Weighted Average Number of Treasury Shares


	Weighted average number of common shares (thousands)		Weighted average number of common shares B (thousands)
2016		2,129,074		585,022
2017		2,080,792		585,022
2018		2,095,648		585,022

Summary of Revaluation Reserves

Revaluation reserves


	Available-for-sale investments			Real estate held for own use			Cash flow hedging reserve			Total
At January 1, 2018		3,450			68			1,402			4,920
Gross revaluation		(2,138	)		(32	)		85			(2,086	)
Net (gains)/losses transferred to income statement		66			-			(80	)		(14	)
Foreign currency translation differences		46			2			71			119
Tax effect		513			7			1			521
Other		-			-			-			1
At December 31, 2018		1,936			46			1,479			3,461

At January 1, 2017		3,418			59			1,904			5,381
Gross revaluation		1,310			8			(115	)		1,203
Net (gains)/losses transferred to income statement		(1,330	)		-			(738	)		(2,069	)
Foreign currency translation differences		(228	)		(8	)		(216	)		(452	)
Tax effect		308			9			567			883
Other		(28	)		-			1			(27	)
At December 31, 2017		3,450			68			1,402			4,920

At January 1, 2016		4,546			52			1,873			6,471
Gross revaluation		857			8			(131	)		733
Net (gains)/losses transferred to income statement		(2,122	)		-			78			(2,044	)
Foreign currency translation differences		(101	)		2			61			(38	)
Tax effect		240			(3	)		24			262
Other		(2	)		-			-			(2	)
At December 31, 2016		3,418			59			1,904			5,381

Summary of Revaluation Reserve for Available-for-sale Investments

The closing balances of the revaluation reserve for available-for-sale investments relate to the following instruments:


	2018		2017		2016
Shares	22		40		130
Debt securities	1,937		3,423		3,245
Other	(23	)	(14	)	43
Revaluation reserve for available-for-sale investments	1,936		3,450		3,418

Summary of Remeasurement of Defined Benefit Plans

Remeasurement of defined benefit plans


	2018		2017		2016
At January 1	(1,669	)	(1,820	)	(1,532	)
Remeasurements of defined benefit plans	(134	)	224		(392	)
Tax effect	(15	)	(175	)	89
Net exchange differences	(32	)	102		16
Total remeasurement of defined benefit plans	(1,850	)	(1,669	)	(1,820	)

Summary of Other Reserves

Other reserves


	Foreign currency translation reserve		Net foreign investment hedging reserve		Equity movements of joint ventures and associates		Total
At January 1, 2018	(80	)	(321	)	11		(390	)
Movement in foreign currency translation and net foreign investment hedging reserves	562		(46	)	(3	)	513
Disposal of a business	50		(14	)	-		36
Tax effect	(32	)	12		-		(20	)
Equity movements of joint ventures	-		-		8		8
Equity movements of associates	-		-		2		2
Other	-		-		1		1
At December 31, 2018	499		(370	)	19		149

At January 1, 2017	1,734		(418	)	31		1,347
Movement in foreign currency translation and net foreign investment hedging reserves	(1,929	)	129		-		(1,800	)
Disposal of a business	7		-		-		7
Tax effect	108		(32	)	-		76
Equity movements of joint ventures	-		-		(15	)	(15	)
Equity movements of associates	-		-		(5	)	(5	)
At December 31, 2017	(80	)	(321	)	11		(390	)

At January 1, 2016	1,731		(467	)	19		1,283
Movement in foreign currency translation and net foreign investment hedging reserves	25		65		-		91
Tax effect	(22	)	(17	)	-		(39	)
Equity movements of joint ventures	-		-		9		9
Equity movements of associates	-		-		3		3
At December 31, 2016	1,734		(418	)	31		1,347

Aegon N.V [member]

Statement [LineItems]

Summary of Shareholders' Equity


	Share capital		Paid-in surplus			Revaluation account			Legal reserves FCTR			Legal reserves group companies		Retained earnings			Remea- surement of defined benefit plans of group companies			Treasury shares			Net income/ (loss)			Total
At January 1, 2018		322		7,731			5,017			(401	)		1,122		6,022			(1,669	)		(325	)		2,469			20,288

Net income 2017 retained		-		-			-			-			-		2,469			-			-			(2,469	)		-

Net income 2018		-		-			-			-			-		-			-			-			710			710
Total net income/(loss)		-		-			-			-			-		2,469			-			-			(1,759	)		710

Foreign currency translation differences and movement in foreign investment hedging reserves		-		-			-			531			-		-			(32	)		-			-			499

Changes in revaluation subsidiaries		-		-			(1,459	)		-			-		-			-			-			-			(1,459	)

Remeasurement of defined benefit plans of group companies		-		-			-			-			-		-			(150	)		-			-			(150	)

Changes and transfer to legal reserve		-		-			7			-			204		(202	)		-			-			-			9

Other		-		-			-			-			-		(3	)		-			-			-			(3	)
Other comprehensive income/(loss)		-		-			(1,452	)		531			204		(205	)		(182	)		-			-			(1,105	)

Shares issued		-		-			-			-			-		-			-			-			-			-

Dividend common shares		-		(244	)		-			-			-		(329	)		-			-			-			(573	)

Dividend withholding tax reduction		-		-			-			-			-		1			-			-			-			1

Treasury shares		-		-			-			-			-		26			-			(12	)		-			14

Coupons and premium on convertible core capital securities and coupon on perpetual securities, net of tax		-		-			-			-			-		(113	)		-			-			-			(113	)

Repurchased and sold own shares		-		-			-			-			-		-			-			-			-			-
At December 31, 2018		322		7,486			3,565			130			1,326		7,872			(1,850	)		(337	)		710			19,225


	Share capital		Paid-in surplus			Revaluation account			Legal reserves FCTR			Legal reserves group companies			Retained earnings			Remea- surement of defined benefit plans of group companies			Treasury shares			Net income/ (loss)			Total
At January 1, 2017		319		7,873			5,450			1,316			1,169			5,966			(1,820	)		(190	)		437			20,520

Net income 2016 retained		-		-			-			-			-			437			-			-			(437	)		-

Net income 2017		-		-			-			-			-			-			-			-			2,469			2,469
Total net income/(loss)		-		-			-			-			-			437			-			-			2,032			2,469

Foreign currency translation differences and movement in foreign investment hedging reserves		-		-			-			(1,717	)		-			-			102			-			-			(1,615	)

Changes in revaluation subsidiaries		-		-			(461	)		-			-			-			-			-			-			(461	)

Remeasurement of defined benefit plans of group companies		-		-			-			-			-			-			49			-			-			49

Changes and transfer to legal reserve		-		-			28			-			(47	)		(1	)		-			-			-			(20	)

Other		-		-			-			-			-			12			-			-			-			12
Other comprehensive income/(loss)		-		-			(433	)		(1,717	)		(47	)		11			151			-			-			(2,035	)

Shares issued		3		-			-			-			-			-			-			-			-			3

Dividend common shares		-		(142	)		-			-			-			(296	)		-			-			-			(438	)

Dividend withholding tax reduction		-		-			-			-			-			2			-			-			-			2

Treasury shares		-		-			-			-			-			30			-			(136	)		-			(106	)

Coupons and premium on convertible core capital securities and coupon on perpetual securities, net of tax		-		-			-			-			-			(131	)		-			-			-			(131	)

Repurchased and sold own shares		-		-			-			-			-			4			-			-			-			4
At December 31, 2017		322		7,731			5,017			(401	)		1,122			6,022			(1,669	)		(325	)		2,469			20,288

Summary of Treasury Stock

As part of their insurance and investment operations, subsidiaries within the Group also hold Aegon N.V. common shares, both for their own account and for account of policyholders. These shares have been treated as treasury shares and are included at their consideration paid or received.


	2018				2017
	Number of shares (thousands)		Total amount		Number of shares (thousands)		Total amount
Common shares

Held by Aegon N.V.		61,418		326		64,488		314

Held by subsidiaries		1,144		9		1,163		9

Common shares B

Held by Aegon N.V.		13,856		2		15,346		2
At December 31		76,419		337		80,996		325

Aegon N.V [member] | Common Share [member]

Statement [LineItems]

Summary of Movements in the Number of Treasury Common Shares

Movements in the number of treasury common shares held by Aegon N.V. were as follows:


	2018						2017
	Number of shares (thousands)			Amount			Number of shares (thousands)			Amount
At January 1		64,488			314			47,473			178

Transactions in 2018:

Sale: transactions, average price EUR 3,76		(3,070	)		(12	)

Sale: 1 transaction, average price EUR 4.62		(21,954	)		(101	)

Purchase: 1 transaction, average price EUR 5.34		21,954			117

Sale: 1 transaction, average price EUR 5.09		(24,134	)		(123	)

Purchase: 1 transaction, average price EUR 5.43		24,134			131

Transactions in 2017:

Sale: transactions, average price EUR 3.44								(4,085	)		(14	)

Sale: 1 transaction, average price EUR 3.68								(26,916	)		(99	)

Sale: 1 transaction, average price EUR 3.77								(3,849	)		(14	)

Purchase: 1 transaction, average price EUR 5.09								51,865			263
At December 31		61,418			326			64,488			314

Aegon N.V [member] | Common Share B [member]

Statement [LineItems]

Summary of Movements in the Number of Treasury Common Shares

Movements in the number of treasury common shares B held by Aegon N.V. were as follows:


	2018					2017
	Number of shares (thousands)			Amount		Number of shares (thousands)			Amount
At January 1		15,346			2		17,325			2

Transactions in 2018:

Sale: 1 transaction, average price EUR 0.11		(1,489	)		-

Transactions in 2017:

Sale: 1 transaction, average price EUR 0.11							(1,979	)		-

Sale: 1 transaction, average price EUR 0.11							(13,043	)		(1	)

Purchase: 1 transaction, average price EUR 0.13							13,043			2
At December 31		13,856			2		15,346			2