XML 497 R38.htm IDEA: XBRL DOCUMENT
v3.20.1

Other equity instruments | 12 Months Ended
--- | ---
Dec. 31, 2019
Statement [LineItems] |
Other equity instruments | 31 Other equity instruments
|  | Perpetual contingent convertible securities |  |  | Junior perpetual capital securities |  |  | Perpetual cumulative subordinated bonds |  |  | Non-cumulative subordinated notes |  |  | Long Term Incentive Plans 1) |  |  | Total |
At January 1, 2019 |  |  | - |  |  |  | 2,808 |  |  |  | 454 |  |  |  | - |  |  |  | 58 |  |  |  | 3,320 |
Shares granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 21 |  |  |  | 21 |
Shares vested |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (26 | ) |  |  | (26 | )
Securities issued |  |  | 500 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 500 |
Securities redeemed |  |  | - |  |  |  | (1,244 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,244 | )
At December 31, 2019 |  |  | 500 |  |  |  | 1,564 |  |  |  | 454 |  |  |  | - |  |  |  | 53 |  |  |  | 2,571 |
At January 1, 2018 |  |  | - |  |  |  | 3,008 |  |  |  | 454 |  |  |  | 271 |  |  |  | 61 |  |  |  | 3,794 |
Shares granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16 |  |  |  | 16 |
Shares vested |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (19 | ) |  |  | (19 | )
Securities redeemed |  |  | - |  |  |  | (200 | ) |  |  | - |  |  |  | (271 | ) |  |  | - |  |  |  | (471 | )
At December 31, 2018 |  |  | - |  |  |  | 2,808 |  |  |  | 454 |  |  |  | - |  |  |  | 58 |  |  |  | 3,320 |
At January 1, 2017 |  |  | - |  |  |  | 3,008 |  |  |  | 454 |  |  |  | 271 |  |  |  | 65 |  |  |  | 3,797 |
Shares granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 26 |  |  |  | 26 |
Shares vested |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (30 | ) |  |  | (30 | )
Securities redeemed |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
At December 31, 2017 |  |  | - |  |  |  | 3,008 |  |  |  | 454 |  |  |  | 271 |  |  |  | 61 |  |  |  | 3,794 |
1 | Long Term Incentive Plans include the shares granted to personnel which are not yet vested.
Perpetual contingent convertible securities |  | Coupon rate |  |  | Coupon date |  |  | Year of next call |  |  | 2019 |  |  | 2018 |  |  | 2017 |
EUR 500 million |  |  | 5.625 | % |  |  | Semi-annually, April 15 |  |  |  | 2029 |  |  |  | 500 |  |  |  | - |  |  |  | - |
At December 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 500 |  |  |  | - |  |  |  | - |
The perpetual contingent convertible securities of EUR 500 million issued on April 4, 2019 have a fixed coupon of 5.625% until the first call date and reset thereafter to 5 year mid swap plus a margin of 5.207%. The securities have been issued at par and have subordination provisions, rank junior to all other liabilities and senior to shareholders’ equity only. The conditions of the securities contain certain provisions for optional and required coupon payment cancelation. Although the securities have no stated maturity, Aegon has the right to call the securities for redemption at par for the first time between April 15, 2029 and October 15, 2029 and every reset date (October 15, with five year intervals) thereafter. Upon breach of certain regulatory capital requirement levels, the securities convert into common shares.
Junior perpetual capital securities |  | Coupon rate |  |  | Coupon date, as of |  |  | Year of next call |  |  | 2019 |  |  | 2018 |  |  | 2017 |
USD 500 million |  |  | 6.50 | % |  |  | Quarterly, December 15 |  |  |  | Called in 2019 |  |  |  | - |  |  |  | 424 |  |  |  | 424 |
USD 250 million |  |  | floating LIBOR rate | 1) |  |  | Quarterly, December 15 |  |  |  | 2020 |  |  |  | 212 |  |  |  | 212 |  |  |  | 212 |
USD 500 million |  |  | floating CMS rate | 2) |  |  | Quarterly, July 15 |  |  |  | 2020 |  |  |  | 402 |  |  |  | 402 |  |  |  | 402 |
USD 1 billion |  |  | 6.375 | % |  |  | Quarterly, June 15 |  |  |  | Called in 2019 |  |  |  | - |  |  |  | 821 |  |  |  | 821 |
EUR 950 million |  |  | floating DSL rate | 3) |  |  | Quarterly, July 15 |  |  |  | 2020 |  |  |  | 950 |  |  |  | 950 |  |  |  | 950 |
EUR 200 million |  |  | 6.0 | % |  |  | Annually, July 21 |  |  |  | Called in 2018 |  |  |  | - |  |  |  | - |  |  |  | 200 |
At December 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,564 |  |  |  | 2,808 |  |  |  | 3,008 |
1 | The coupon of the USD 250 million junior perpetual capital securities is reset each quarter based on the then prevailing three-month LIBOR yield plus a spread of 87.5 basis points, with a minimum of 4%.
2 | The coupon of the USD 500 million junior perpetual capital securities is reset each quarter based on the then prevailing ten-year US dollar interest rate swap yield plus a spread of ten basis points, with a maximum of 8.5%.
3 | The coupon of the EUR 950 million junior perpetual capital securities is reset each quarter based on the then prevailing ten-year Dutch government bond yield plus a spread of ten basis points, with a maximum of 8%.
The interest rate exposure on some of these securities has been swapped to a three-month LIBOR and/or EURIBOR based yield. With effect on June 15, 2019, Aegon has exercised its right to redeem USD 500 million 6.5% perpetual capital securities issued in 2005. The securities had no stated maturity, however Aegon had the right to call the securities for redemption and exercised this right with effect on June 15, 2019. With effect on December 15, 2019, Aegon has exercised its right to redeem USD 1 billion 6.375% perpetual capital securities issued in 2005. The securities had no stated maturity, however Aegon had the right to call the securities for redemption and exercised this right with effect on December 15, 2019. The securities have been issued at par. The securities have subordination provisions, rank junior to all other liabilities and senior to shareholders’ equity only. The conditions of the securities contain certain provisions for optional and required coupon payment deferral and, in situations under Aegon’s control, mandatory coupon payment events. Although the securities have no stated maturity, Aegon has the right to call the securities for redemption at par for the first time on the coupon date in the years as specified, or on any coupon payment date thereafter.
Perpetual cumulative subordinated bonds |  | Coupon rate |  |  | Coupon date |  |  | Year of next call |  |  | 2019 |  |  | 2018 |  |  | 2017 |
EUR 203 million |  |  | 4.260% 1), 4) |  |  |  | Annually, March 4 |  |  |  | 2021 |  |  |  | 203 |  |  |  | 203 |  |  |  | 203 |
EUR 114 million |  |  | 1.506% 2), 4) |  |  |  | Annually, June 8 |  |  |  | 2025 |  |  |  | 114 |  |  |  | 114 |  |  |  | 114 |
EUR 136 million |  |  | 1.425% 3), 4) |  |  |  | Annually, October 14 |  |  |  | 2028 |  |  |  | 136 |  |  |  | 136 |  |  |  | 136 |
At December 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 454 |  |  |  | 454 |  |  |  | 454 |
1 | The coupon of the EUR 203 million bonds was originally set at 7.125% until March 4, 2011. Subsequently, the coupon has been reset at 4.26% until March 4, 2021.
2 | The coupon of the EUR 114 million bonds was originally set at 8% until June 8, 2005. Subsequently, the coupon has been reset at 4.156% until June 8, 2015 and 1.506% until June 8, 2025.
3 | The coupon of the EUR 136 million bonds was originally set at 7.25% until October 14, 2008. Subsequently, the coupon has been reset at 5.185% until October 14, 2018 and 1.425% until October 14, 2028.
4 | If the bonds are not called on the respective call dates and after consecutive period of ten years, the coupons will be reset at the then prevailing effective yield of ten-year Dutch government securities plus a spread of 85 basis points.
The bonds have the same subordination provisions as dated subordinated debt. In addition, the conditions of the bonds contain provisions for interest deferral. Although the bonds have no stated maturity, Aegon has the right to call the bonds for redemption at par for the first time on the coupon date in the year of next call.
Non-cumulative subordinated notes |  | Coupon rate |  |  | Coupon date |  |  | Year of next call |  |  | 2019 |  |  | 2018 |  |  | 2017 |
USD 525 million |  |  | 8% |  |  |  | Quarterly, February 15 |  |  |  | Called in 2018 |  |  |  | - |  |  |  | - |  |  |  | 271 |
At December 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | 271 |
With effect on May 15, 2018, Aegon has exercised its right to redeem USD 525 million non-cumulative subordinated notes, subsequently leading to their redemption. The securities had a stated maturity of 30 years, however, Aegon had the right to call the securities for redemption at par on any coupon payment date. The non-cumulative subordinated notes were initially issued on February 7, 2012, in aggregate principal amount of 8.00%, due 2042, in an underwritten public offering in the United States registered with the US Securities and Exchange Commission.
Aegon N.V [member] |
Statement [LineItems] |
Other equity instruments | 14 Other equity instruments
|  | Perpetual contingent convertible securities |  |  | Junior perpetual capital securities |  |  | Perpetual cumulative subordinated bonds |  |  | Non-cumulative subordinated notes |  |  | Long Term Incentive Plans 1) |  |  | Total |
At January 1, 2019 |  |  | - |  |  |  | 2,808 |  |  |  | 454 |  |  |  | - |  |  |  | 58 |  |  |  | 3,320 |
Shares granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 21 |  |  |  | 21 |
Shares vested |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (26 | ) |  |  | (26 | )
Securities issued |  |  | 500 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 500 |
Securities redeemed |  |  | - |  |  |  | (1,244 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,244 | )
At December 31, 2019 |  |  | 500 |  |  |  | 1,564 |  |  |  | 454 |  |  |  | - |  |  |  | 53 |  |  |  | 2,571 |
At January 1, 2018 |  |  | - |  |  |  | 3,008 |  |  |  | 454 |  |  |  | 271 |  |  |  | 61 |  |  |  | 3,794 |
Shares granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16 |  |  |  | 16 |
Shares vested |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (19 | ) |  |  | (19 | )
Securities redeemed |  |  | - |  |  |  | (200 | ) |  |  | - |  |  |  | (271 | ) |  |  | - |  |  |  | (471 | )
At December 31, 2018 |  |  | - |  |  |  | 2,808 |  |  |  | 454 |  |  |  | - |  |  |  | 58 |  |  |  | 3,320 |
1 | Long Term Incentive Plans include the shares granted to personnel which are not yet vested.
Perpetual contingent convertible securities |  | Coupon rate |  |  | Coupon date |  |  | Year of next call |  |  | 2019 |  |  | 2018 |
EUR 500 million |  |  | 5.625% |  |  |  | Semi-annually, April 15 |  |  |  | 2029 |  |  |  | 500 |  |  |  | - |
At December 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 500 |  |  |  | - |
The perpetual contingent convertible securities of EUR 500 million issued on April 4, 2019 have a fixed coupon of 5.625% until the first call date and reset thereafter to 5 year mid swap plus a margin of 5.207%. The securities have been issued at par and have subordination provisions, rank junior to all other liabilities and senior to shareholders’ equity only. The conditions of the securities contain certain provisions for optional and required coupon payment cancelation. Although the securities have no stated maturity, Aegon has the right to call the securities for redemption at par for the first time between April 15, 2029 and October 15, 2029 and every reset date (October 15, with five year intervals) thereafter. Upon breach of certain regulatory capital requirement levels, the securities convert into common shares.
Junior perpetual capital securities |  | Coupon rate |  | Coupon date, as of |  | Year of next call |  |  | 2019 |  |  | 2018 |
USD 500 million |  | 6.50% |  | Quarterly, December 15 |  |  | Called in 2019 |  |  |  | - |  |  |  | 424 |
USD 250 million |  | floating LIBOR rate 1) |  | Quarterly, December 15 |  |  | 2020 |  |  |  | 212 |  |  |  | 212 |
USD 500 million |  | floating CMS rate 2) |  | Quarterly, July 15 |  |  | 2020 |  |  |  | 402 |  |  |  | 402 |
USD 1 billion |  | 6.375% |  | Quarterly, June 15 |  |  | Called in 2019 |  |  |  | - |  |  |  | 821 |
EUR 950 million |  | floating DSL rate 3) |  | Quarterly, July 15 |  |  | 2020 |  |  |  | 950 |  |  |  | 950 |
At December 31 |  |  |  |  |  |  |  |  |  |  | 1,564 |  |  |  | 2,808 |
1 | The coupon of the USD 250 million junior perpetual capital securities is reset each quarter based on the then prevailing three-month LIBOR yield plus a spread of 87.5 basis points, with a minimum of 4%.
2 | The coupon of the USD 500 million junior perpetual capital securities is reset each quarter based on the then prevailing ten-year US dollar interest rate swap yield plus a spread of ten basis points, with a maximum of 8.5%.
3 | The coupon of the EUR 950 million junior perpetual capital securities is reset each quarter based on the then prevailing ten-year Dutch government bond yield plus a spread of ten basis points, with a maximum of 8%.
The interest rate exposure on some of these securities has been swapped to a three-month LIBOR and/or EURIBOR based yield. With effect on June 15, 2019, Aegon has exercised its right to redeem USD 500 million 6.5% perpetual capital securities issued in 2005. The securities had no stated maturity, however Aegon had the right to call the securities for redemption and exercised this right with effect on June 15, 2019. With effect on December 15, 2019, Aegon has exercised its right to redeem USD 1 billion 6.375% perpetual capital securities issued in 2005. The securities had no stated maturity, however Aegon had the right to call the securities for redemption and exercised this right with effect on December 15, 2019. The securities have been issued at par. The securities have subordination provisions, rank junior to all other liabilities and senior to shareholders’ equity only. The conditions of the securities contain certain provisions for optional and required coupon payment deferral and, in situations under Aegon’s control, mandatory coupon payment events. Although the securities have no stated maturity, Aegon has the right to call the securities for redemption at par for the first time on the coupon date in the years as specified, or on any coupon payment date thereafter.
Perpetual cumulative subordinated bonds |  | Coupon rate |  | Coupon date |  | Year of next call |  |  | 2019 |  |  | 2018 |
EUR 203 million |  | 4.260% 1), 4) |  | Annually, March 4 |  |  | 2021 |  |  |  | 203 |  |  |  | 203 |
EUR 114 million |  | 1.506% 2), 4) |  | Annually, June 8 |  |  | 2025 |  |  |  | 114 |  |  |  | 114 |
EUR 136 million |  | 1.425% 3), 4) |  | Annually, October 14 |  |  | 2028 |  |  |  | 136 |  |  |  | 136 |
At December 31 |  |  |  |  |  |  |  |  |  |  | 454 |  |  |  | 454 |
1 | The coupon of the EUR 203 million bonds was originally set at 7.125% until March 4, 2011. Subsequently, the coupon has been reset at 4.26% until March 4, 2021.
2 | The coupon of the EUR 114 million bonds was originally set at 8% until June 8, 2005. Subsequently, the coupon has been reset at 4.156% until June 8, 2015 and 1.506% until June 8, 2025.
3 | The coupon of the EUR 136 million bonds was originally set at 7.25% until October 14, 2008. Subsequently, the coupon has been reset at 5.185% until October 14, 2018 and 1.425% until October 14, 2028.
4 | If the bonds are not called on the respective call dates and after consecutive period of ten years, the coupons will be reset at the then prevailing effective yield of ten-year Dutch government securities plus a spread of 85 basis points.
The bonds have the same subordination provisions as dated subordinated debt. In addition, the conditions of the bonds contain provisions for interest deferral. Although the bonds have no stated maturity, Aegon has the right to call the bonds for redemption at par for the first time on the coupon date in the year of next call.

X
- Definition The disclosure of other equity instruments. + References No definition available. + Details
Name: | aeg_DisclosureOfOtherEquityInstrumentsExplanatory
Namespace Prefix: | aeg_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | aeg_Statement1LineItems
Namespace Prefix: | aeg_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_ParentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |