ANNUAL REPORT 2010   OUR BUSINESSES  AEGON WORLDWIDE 27 Earnings overview AEGON worldwide In EUR million 2010 2009 % Life 1,048  931  13  Individual savings and retirement products 500  (10) – Pensions 469 395 19 Life reinsurance 79 21 – Non-life 53 67 (21) Distribution 10 (2) – Asset management 46 – – Holding and other (283) (252) (12) Share in underlying earnings before tax of associates 50 35 43 Underlying earnings before tax 1,972 1,185 66 Fair value items 221 (544) – Realized gains / (losses) on investments 658 518 27 Impairment charges (452) (1,277) 65 Other income / (charges) (309) (323) 4 Run-off businesses (165) (13) – Income before tax 1,925 (454) – Income tax (165) 658 – Net income 1,760 204 – NET UNDERLYING EARNINGS 1,553 1,005 55 FOCUS ON… Kinjal Shah, AEGON Religare SHARPENING OUR FOCUS