Insurance giant Aegon on Thursday announced a 12% loss in the first quarter of 2011 compared with the same period of 2010.

Net profit dropped from €372m in 2010 to €327m in 2011. Pretax profit dropped 7% to €414m.
The reason for the loss varies from market to market. In the Netherlands Aegon is faced with longer life expectancy and has had to set aside an extra €20m to pay out on life insurance policies, the company said.