Dutch insurance group Aegon has announced that it will not make future investments in Russia or Belarus-based companies and has updated its Responsible Investment Policy accordingly.

"This policy applies to all general account investments where Aegon has full management control. Investment decisions for third-party investments and investments for account of policyholders, are not within Aegon's control. However, Aegon encourages its business units to discuss Aegon's policy positions with their respective clients", as the company's representatives mentioned in a statement.

The Responsible Investment Policy already excluded investments in any form of Russian and Belarus government-issued debt, such as government bonds.

Additionally, "given current exceptional circumstances, Aegon will look at options to reduce its existing investment exposure in a thoughtful way, while taking into account the interests of all stakeholders".

Aegon has EUR 27 million of general account investments in Russia, based on the book value as per March 3, 2022.

Aegon does not have any investments in Belarus.

"These decisions are in line with the response of the international business community and the international sanctions imposed on Russia following the invasion of Ukraine".