AEGON Canada selects RBC Dexia for investment accounting for CAD 8.5 billion portfolio

    TORONTO, July 9 /CNW/ - AEGON Canada and RBC Dexia Investor Services
today announced they have signed a letter of intent to have RBC Dexia provide
investment accounting services to AEGON Canada for its portfolio of 160 funds
worth CAD 8.5 billion. AEGON Canada Inc. provides Canadians with life
insurance and investment products through its operating subsidiaries
Transamerica Life Canada, AEGON Fund Management and AEGON Capital Management.
Today's announcement represents the expansion of a longstanding working
    "Based on our positive working relationship with RBC Dexia, we are
confident that our clients and employees will benefit from RBC Dexia's global
operating model and strong focus on client service excellence," said Paul
Reaburn, President and CEO of AEGON Canada. "The outsourcing of investment
accounting supports AEGON Canada's strategy of focusing on our core business,
which is the manufacturing of life insurance and investment products."
    "We are extremely pleased with AEGON Canada's selection of RBC Dexia to
provide investment accounting services for their portfolio of funds," said
José Placido, Chief Executive Officer of RBC Dexia. "We believe this decision
is a strong endorsement of the intrinsic value institutional investors can
realize by entrusting their middle and back office functions to RBC Dexia.
There is a strong cultural alignment between our two companies, including a
shared commitment to client service excellence. We look forward to a
long-term, mutually beneficial working relationship with AEGON Canada."
    One of the key features of this relationship involves the integration of
AEGON Canada's investment accounting employees into RBC Dexia's operation in
Toronto. "We are delighted to welcome these professionals to our team at RBC
Dexia. Their experience and expertise will help ensure business continuity and
will contribute to the development and sharing of best practices in the years
ahead," said Mr. Placido.
    RBC Dexia is the leader in managing large-scale outsourcing of fund
accounting services in Canada. The transition of AEGON Canada's business is
expected to begin in mid-August and be completed by the end of October 2008.

    About AEGON Canada

    AEGON Canada Inc. is a leading Canadian provider of individual life
insurance and investment solutions through its operating subsidiaries
Transamerica Life Canada, AEGON Fund Management and AEGON Capital Management.
A member of AEGON, one of the world's leading life insurance and pension
groups, AEGON Canada offers the in-depth local knowledge of a Canadian firm
within the global power of an expanding international enterprise. With roots
going back over 80 years and 750 employees across the country, AEGON Canada is
dedicated to creating better futures for its distributors, customers and

    About RBC Dexia Investor Services

    RBC Dexia Investor Services offers a complete range of investor services
to institutions worldwide. Our unique offshore and onshore solutions, combined
with the expertise of our 4,800 professionals in 15 markets, help clients grow
their business and sustain enhanced performance through efficiency
improvements and robust risk management processes. Equally-owned by RBC and
Dexia, the company ranks among the world's top 10 global custodians with USD
2.9 trillion in client assets under administration.

For further information:

For further information: Warren Weeks, RBC Dexia Investor Services,
Toronto, (416) 955-7048; Inga Eichenbaum, AEGON Canada, (416) 883-5417

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