THE NETHERLANDS, March 21
Since the 1990s, AEGON N.V., The Hague, The Netherlands, signed over 100.000 saving contracts with Dutch families. The savings product, called Koersplan of Spaarbeleg, promised 10-12% annual growth. As savings contracts expire clients find out that returns are less than the amount paid.
AEGON refers to weak stock markets.
In reality, there was a hidden "insurance". Customers were not informed and did not know about it. The "costs" of the "insurance" were approx. 25% of the savings amount paid!
Furthermore, AEGON will not (and by now we must assume, can not) produce accountable figures reflecting the performance of the values Koersplan was supposed to invest in.
Thousands of customers are preparing for a mulit-billion claim. In the meantime, AEGON's position in stock markets is under pressure. For real, this time.