6-K

LOGO

Effective January 1, 2019 Aegon adopted a voluntary accounting policy change related to the liability adequacy test (LAT) of Aegon the Netherlands, which is applied retrospectively.

The recognition of a LAT deficit in Aegon the Netherlands triggered a review and change of its existing accounting policy related to the LAT. The change relates to the period considered for the unrealized gains on financial assets that are accounted for at amortized cost which are taken into account in the LAT, specifically where they relate to intercompany transactions between insurance and non-insurance entities.

The change does not impact other reporting units within Aegon as this change is specific to Aegon the Netherlands.

The impact of the voluntary accounting policy change resulted in a restatement of certain balances as of December 31, 2018 and for the six-month period ended June 30, 2018. Refer to note 2 of the unaudited condensed consolidated interim financial statements as of June 30, 2019 and for the six-month period then ended included in Aegon N.V.’s Current Report on Form 6-K filed with the SEC on August 15, 2019.

The impact of the voluntary accounting policy change on comparative numbers for the financial years 2017 and 2016, which were not restated, is provided in the following tables, including references to the notes to the consolidated financial statements as published in Aegon’s 2018 Annual Report on Form 20-F.


Impact of voluntary change in accounting policy on the consolidated statement of comprehensive income

					Change in
					accounting									Change in									Change in
					policy			December						accounting			December						accounting			December
		December			related to			31, 2018			December			policy related			31, 2017			December			policy related			31, 2016
		31, 2018			liability			(after			31, 2017			to liability			(after			31, 2016			to liability			(after
		(as previously			adequacy			voluntary			(as previously			adequacy			voluntary			(as previously			adequacy			voluntary
EUR millions		reported) ¹			testing			change)			reported) ¹			testing			change)			reported) ¹			testing			change)
	Note
Net income / (loss)			711			-			711			2,469			-			2,469			438			-			438

Items that may be reclassified subsequently to profit or loss:
Gains / (losses) on revaluation of available-for-sale investments			(2,138	)		(4	)		(2,142	)		1,283			93			1,376			854			(123	)		731
Income tax relating to items that may be reclassified			493			1			494			951			(23	)		927			225			31			256
Net effect comprehensive income			(393	)		(3	)		(396	)		431			70			501			(863	)		(92	)		(956	)

Total comprehensive income / (loss) attributable to:
Owners of Aegon N.V.			(395	)		(3	)		(398	)		435			70			505			(878	)		(92	)		(970	)
Non-controlling interests			2			-			2			(3	)		-			(3	)		15			-			15
¹As reported in Aegon’s Annual Report on Form 20-F dated March 21, 2019.
Impact of voluntary change in accounting policy on the consolidated statement of financial position

					Change in
					accounting									Change in									Change in
					policy									accounting			December						accounting			December
		December			related to			December			December			policy related			31, 2017			December			policy related			31, 2016
		31, 2018			liability			31, 2018			31, 2017			to liability			(after			31, 2016			to liability			(after
		(as previously			adequacy			(after			(as previously			adequacy			voluntary			(as previously			adequacy			voluntary
EUR millions		reported) ¹			testing			restated)³			reported) ¹			testing			change)			reported) ²			testing			change)
	Note

Equity and liabilities
Shareholders’ equity	32		19,225			(26	)		19,200			20,288			(23	)		20,266			20,520			(92	)		20,428

Insurance contracts	36		115,294			34			115,328			110,818			30			110,848			119,569			123			119,692
Deferred tax liabilities	43		538			(9	)		529			1,029			(8	)		1,021			2,201			(31	)		2,170

¹As reported in Aegon’s Annual Report on Form 20-F dated March 21, 2019.

² As reported in Aegon’s Annual Report on Form 20-F dated March 22, 2018.

³As reported in Aegon’s unaudited condensed consolidated interim financial statements as of June 30, 2019 on Form 6-K dated August 15, 2019.


	AEGON N.V.

	(Registrant)

Date: October 15, 2019	By	/s/ J.H.P.M. van Rossum

		J.H.P.M. van Rossum

		Executive Vice President and Head of Corporate Financial Center