Media Release: AEGON UK makes senior appointments within its Risk Team

LEADING life and pensions company, AEGON UK, today announced two key appointments within the company’s risk function, appointing Stephen McGee to the role of Insurance Risk director/Actuarial Function Holder and Pauline Colvin to the role of Enterprise Risk director.

Stephen McGee has over 16 years experience working in the UK life industry in finance and actuarial positions.

A graduate of Glasgow University, Stephen joined Alba (formerly Britannia Life Limited) from University, before moving to Scottish Mutual in 1998. Working through various acquisitions and name changes, Stephen previously worked for Abbey National, Santander, Resolution, and Pearl, before leaving Phoenix group as head of Actuarial in August 2010.

Reporting to AEGON UK’s Chief Risk officer, Charles Garthwaite, Stephen will lead the development and implementation of AEGON UK’s strategy for the management of insurance risk.

Pauline Colvin joins AEGON UK from AON UK where she was formerly Chief Risk officer.

Pauline, brings a wealth of insurance sector experience to AEGON UK, as she has previously worked for Skandia UK (Old Mutual), Royal & Sun Alliance, Pearl and AMP, in a variety of governance, risk and change management roles.

As Enterprise Risk director, Pauline will take responsibility for AEGON UK’s operational, internal control, business continuity and financial crime risks, as well as supporting Charles Garthwaite, in developing AEGON’s organisation-wide risk management culture.

AEGON UK’s Chief Risk officer, Charles Garthwaite, said:

“I am delighted to welcome both Stephen and Pauline to AEGON UK. Between them, they bring an impressive breadth of knowledge and are valuable additions to our risk management team.

“Risk management is essential to companies, and will become increasingly so with the advent of Solvency II. Risk management activity is essential to supporting the business in the future. The wealth of experience and skills that both Stephen and Pauline bring will help us to develop a first class risk culture across AEGON UK.”

Notes to editors

* In the UK AEGON offers pensions, life insurance, asset management and financial advice to around two million customers. AEGON UK has assets under administration of £53.6 billion and employs approximately 4,500 staff.

* As an international life insurance, pension and investment company based in The Hague, AEGON has approximately 28 thousand employees world wide and 40 million customers in the Americas, Europe and Asia. AEGON’s revenue generating investments totalled EUR 409 billion at 30 June 2010.

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