65 Results 2012 New Markets Amounts in EUR millions 2012 2011 % Net underlying earnings 185 184 1% Tax on underlying earnings 89 65 37% Underlying earnings before tax by product segment Central & Eastern Europe 85 96 (11%) Asia 19 (4) - Spain and France 69 88 (22%) Variable Annuities Europe - 9 - Aegon Asset Management 101 60 68% Underlying earnings before tax 274 249 10% Net fair value items (1) (30) 97% Gains / (losses) on investments 10 7 43% Impairment charges (26) (61) 57% Other income / (charges) 113 7 - Income before tax (excluding income tax from certain proportionately consolidated joint  ventures and associates) 370 172 115% Income tax from certain proportionately consolidated joint ventures and associates included in  income before tax 15 8 88% Income tax (121) (61) (98%) Of which Income tax from certain proportionately consolidated joint ventures and associates  included in income before tax (15) (8) (88%) Net income 249 111 124% Life insurance gross premiums 1,374 1,600 (14%) Accident and health insurance premiums 188 179 5% General insurance premiums 144 149 (3%) Total gross premiums 1,706 1,928 (12%) Investment income 319 320 0% Fees and commission income 524 469 12% Other revenues 3 1 - Total revenues 2,552 2,718 (6%) Commissions and expenses 870 826 5% of which operating expenses 613 577 6% New life sales Amounts in EUR millions 2012 2011 % Central & Eastern Europe 114 110 4% Asia 53 58 (9%) Spain and France 86 143 (40%) Total recurring plus 1/10 single 253 311 (19%) Amounts in EUR million 2012 2011 % New premium production accident and health insurance 42 34 24% New premium production general insurance 25 25 -