45 Results 2012 the Netherlands Amounts in EUR millions 2012 2011 % Net underlying earnings 260 238 9% Tax on underlying earnings 65 60 8% Underlying earnings before tax by product segment Life & Savings 267 185 44% Pensions 67 98 (32%) Non-life (27) 6 - Distribution 16 8 100% Share in underlying earnings before tax of associates 2 1 100% Underlying earnings before tax 325 298 9% Net fair value items 123 156 (21%) Gains / (losses) on investments 138 269 (49%) Impairment charges (29) (15) (93%) Other income / (charges) (279) (164) (70%) Income before tax 278 544 (49%) Income tax (11) (125) 91% Net income 267 419 (36%) Life insurance gross premiums 3,004 3,213 (7%) Accident and health insurance premiums 220 216 2% General insurance premiums 475 452 5% Total gross premiums 3,699 3,881 (5%) Investment income 2,273 2,192 4% Fees and commission income 329 329 - Total revenues 6,301 6,402 (2%) Commissions and expenses 1,036 1,122 (8%) of which operating expenses 746 823 (9%) New life sales Amounts in EUR millions 2012 2011 % Life & Savings 46 81 (43%) Pensions 200 173 16% Total recurring plus 1/10 single 246 254 (3%) Amounts in EUR million 2012 2011 % New premium production accident and health insurance 21 27 (22%) New premium production general insurance 30 27 11% Gross deposits (on and off balance) 2012 2011 % Life & Savings 1,484 1,968 (25%) Pensions - 80 - Total gross deposits 1,484 2,048 (28%)