AEGON GROUP ANNUAL REPORT 2003 115 27 OPERATING EXPENSES Non- Life Non-life technical Total 2003 Acquisition costs 2,215 880 — 3,095 Deferred policy acquisition costs (1,847) (291) — (2,138) Amortization of deferred policy acquisition costs 1,455 273 — 1,728 1,823 862 — 2,685 Administrative expenses 2,298 428 — 2,726 Commissions and profit sharing from reinsurers (247) (134) — (381) Banking and other activities — — 140 140 TOTAL OPERATING EXPENSES 3,874 1,156 140 5,170 Investment expenses 217 Commissions and expenses 5,387 2002 Acquisition costs 2,850 1,066 — 3,916 Deferred policy acquisition costs (2,486) (401) — (2,887) Amortization of deferred policy acquisition costs 1,520 328 — 1,848 1,884 993 — 2,877 Administrative expenses 1,917 450 — 2,367 Commissions and profit sharing from reinsurers (253) (138) — (391) Banking and other activities — — 125 125 TOTAL OPERATING EXPENSES 3,548 1,305 125 4,978 Investment expenses 234 Commissions and expenses 5,212 2001 Acquisition costs 2,590 561 — 3,151 Deferred policy acquisition costs (2,256) (302) — (2,558) Amortization of deferred policy acquisition costs 1,203 219 — 1,422 1,537 478 — 2,015 Administrative expenses 2,001 732 — 2,733 Commissions and profit sharing from reinsurers (305) (157) — (462) Banking and other activities — — 96 96 TOTAL OPERATING EXPENSES 3,233 1,053 96 4,382 Investment expenses 192 Commissions and expenses 4,574 2003 2002 2001 Technical and non-technical accounts include the following: Salaries 1,178 1,206 1,167 Pension premiums 90 (92) (111) Other social security charges 208 205 189 Other expenses 1,344 1,300 1,223 Total expenses 2,820 2,619 2,468 Commissions 3,358 4,023 3,704 Deferred policy acquisition costs (2,138) (2,887) (2,558) Amortization of deferred policy acquisition costs 1,728 1,848 1,422 Commissions and profit sharing from reinsurers (381) (391) (462) COMMISSIONS AND EXPENSES 5,387 5,212 4,574