24 ❏ AEGON WORLDWIDE AEGON operates in more than 20 countries around the world, serving  about 40 million customers. AEGON sharpened its focus on its core  businesses – life insurance, pensions and asset management – and  turned in a strong performance. Earnings in the Netherlands remained strong. AEGON’s  operations in the United Kingdom reported higher  underlying earnings, while earnings from New Markets  increased mainly as a result of the inclusion of AEGON  Asset Management, only partly offset by higher claim  experience in the non-life business in Hungary.  During 2010, both AEGON’s underlying earnings and net  income improved considerably. The increases were the  result of business growth, cost savings, further  improvements in financial markets and strengthening of  the dollar against the euro. Sales increased in most  countries, while gross deposits also increased. AEGON’s  capital position improved during the year, with core  capital of EUR 18.7 billion at year-end 2010. AEGON’s net income for 2010 amounted to EUR 1.8 billion,  a significant increase compared with net income of  EUR 204 million in 2009. The improvement was driven  by higher underlying earnings, a turnaround in fair value  results, higher realized gains on investments and  considerably lower impairments. These positive effects  were partly offset by higher losses for the run-off  businesses and tax charges, where 2009 had included  tax benefits. Underlying earnings before tax increased 66% to  EUR 1.97 billion, mainly as a result of a strong recovery  in the Americas. The improvement was the result of  growth of the business, cost savings, higher fee income  as a result of higher account balances driven by net  inflows and a recovery in financial markets and the  absence of reserve strengthening in the Americas.  Net income Underlying earnings before tax Overview Mexico Brazil The Netherlands United Kingdom France Spain Japan Central & Eastern Europe * * Czech Republic  Hungary  Poland  Romania  Slovakia  Turkey United States Canada China India AEGON Direct Marketing Services (ADMS)  ADMS is present in Australia, Brazil, France, Germany, Hong Kong, India, Italy,  Japan, Korea, Mexico, Singapore, Spain, Taiwan, Thailand and the United Kingdom.