Borrowings (Tables)

12 Months Ended

Dec. 31, 2022

Statement [LineItems]

Summary of Borrowings

	2022		2021
Capital funding		1,245		1,292
Operational funding		2,806		8,369
At December 31		4,051		9,661
Current		1,150		824
Non-current		2,901		8,837
Fair value of borrowings		4,114		10,171

Summary of Undrawn Committed Borrowings Facilities

Undrawn committed borrowing facilities:	2022		2021
Floating-rate
- Expiring within one year		-		408
- Expiring beyond one year		3,435		2,991
At December 31		3,435		3,399

There were no defaults or breaches of conditions during the period.

Capital funding [member]

Statement [LineItems]

Summary of Borrowings

A detailed composition of capital funding is included in the following table:

(sorted by maturity)	Coupon rate		Coupon date		Issue /Maturity		2022		2021
EUR 500 million Senior Unsecured Notes		1.00%		December 8		2016/ 23		499		499
GBP 250 million Medium-Term Notes		6.125%		December 15		1999 /31		281		296
GBP 400 million Senior Unsecured Notes		6.625%		Semi-annually		2009 /39		446		472
Other								19		26
At December 31								1,245		1,292

Operational funding [member]

Statement [LineItems]

Summary of Borrowings

	Coupon rate		Coupon date		Issue /Maturity		2022		2021
Revolving Loan Facility Warehouse Mortgage Loans 1)		Floating		Monthly		- /22		-		592
Revolving Loan Facility Warehouse Mortgage Loans 1)		Floating		Monthly		- /24		-		494
EUR 875 million “SAECURE 16” RMBS Note 1), 2)		Floating		Quarterly		2018 / 23		-		676
EUR 512 million “SAECURE 18” RMBS Note 1), 3)		Floating		Quarterly		2019 / 25		-		355
EUR 657 million “SAECURE 20” RMBS Note 1), 4)		Floating		Quarterly		2021 / 27		-		625
EUR 500 million Conditional Pass-Through Covered Bond 1), 5)		0.250%		Annual		2016 / 23		-		499
EUR 500 million Conditional Pass-Through Covered Bond 1), 6)		0.375%		Annual		2017 / 24		-		499
EUR 500 million Conditional Pass-Through Covered Bond 1), 7)		0.010%		Annual		2020 / 25		-		506
EUR 500 million Conditional Pass-Through Covered Bond 1), 8)		0.750%		Annual		2017 / 27		-		492
EUR 500 million Conditional Pass-Through Covered Bond 1), 9)		0.375%		Annual		2021 / 36		-		494
FHLB Secured borrowings 1)		Floating		Quarterly		2021 / 24		2,806		2,634
Aegon Bank Senior Non-Preferred debt 1)		0.625%		Annual		2019 / 24		-		499
Other								-		5
At December 31								2,806		8,369

1  Issued by a subsidiary of Aegon N.V.

2  The first optional redemption date is October 30, 2023; the final legal maturity date is October 30, 2091. Notes are fully collateralized by mortgage loans which are part of Aegon’s general account investments.

3  The first optional redemption date is July 28, 2025; the final legal maturity date is April 28, 2092. Notes are fully collateralized by mortgage loans which are part of Aegon’s general account investments.

4  The first optional redemption date is October 28, 2027; the final legal maturity date is April 28, 2093. Notes are fully collateralized by mortgage loans which are part of Aegon’s general account investments.

5  The maturity date is May 25, 2023; the extended due for payment date is May 25, 2055.

6  The maturity date is November 21, 2024; the extended due for payment date is November 21, 2056.

7  The maturity date is November 16, 2025; the extended due for payment date is November 16, 2057.

8  The maturity date is June 27, 2027; the extended due for payment date is June 27, 2059.

9  The maturity date is June 9, 2036; the extended due for payment date is June 9, 2037.