10 Increase returns: strategic objectives Delivering operational  excellence  Enhancing customer  loyalty  Empowering AEGON’s  employees  United Kingdom Steps AEGON is taking  Increase returns  Restructuring AEGON’s US and UK businesses ■ Implement global talent  management program.  ■ Roll out employee  engagement plan. ■ Improve knowledge of  customer requirements, and  use this knowledge to drive  innovation. ■ Compete on customer  service, not on price. ■ Further build on AEGON and  Transamerica brand names.  ■ Continue to be cost-effi cient.  ■ Decrease costs per policy. ■ Make distibution more  effective and more effi cient.  ■ Achieve signifi cant  improvement in levels of  customer service.  ■ AEGON expects restructuring in the United Kingdom  to reduce costs, improve returns and refocus the  company on opportunities for growth in the  At Retirement and Workplace Savings markets,  where AEGON already has leading positions.  ■ By the end of 2011, AEGON expects a 25% reduction in  run-rate of costs in its UK life insurance and pension  business.  ■ AEGON has withdrawn from the UK bulk annuities  market and sold its third party pension administration  and employee benefi ts software businesses. ■ At the same time, AEGON will retain its life insurance  and protection business in the United Kingdom to  support new opportunities in the At Retirement market. ■ The company is further streamlining its management  and organizational structure in the United Kingdom –  a step that will lead to the loss of a number of  positions over the course of 2011.  ■ Restructuring of UK businesses to improve returns,  lower costs and refocus on opportunities for growth in  key At Retirement and Workplace Savings markets.  ■ Restructuring of businesses and introduction of a  more streamlined organization in the United States. ■ Continue to implement cost savings measures across  the company. ■ Reorganization of sales division in the Netherlands. ■ Improving and strengthening customer service – and  continuing to compete on customer service. During 2010, AEGON announced a restructuring of some  of its operations in both the United States and the  United Kingdom. This was part of broader efforts to  reduce costs, improve returns and increase the  company’s focus on its core businesses – life insurance,  pensions and asset management. AEGON’s aim is to increase returns from its existing  businesses. This is achieved through delivering  operational excellence, improved customer loyalty, and  stronger employee engagement. AEGON expects its  focus on increasing returns to support an improvement  in the company’s overall return on equity over the  medium term and to improve normalized cash flows  from their current level of between EUR 1 billion and  EUR 1.2 billion a year. 