Dutch insurer Aegon has paid EUR1.12bn to the state, completing the final repayment towards the bailout amount of EUR3bn it received from the state during the financial crisis in 2008.

The total amount Aegon paid to the Dutch State amounts to EUR4.1bn. Of this amount, EUR3bn covered the original issue of core capital securities, while an additional EUR1.1bn was paid in premium and interest.

The final repayment of EUR1.12bn, comprises of EUR750m for the repurchase of 187.5 million convertible core capital securities and a EUR375m premium payment.

Aegon CEO Alex Wynaendts said the insurer has turned a decisive corner and is today a significantly transformed company.

"We are grateful to the Ministry of Finance and Dutch Central Bank for their support during the period of extreme economic turmoil and uncertainty that Aegon faced and successfully weathered.

"With the repayment to the Dutch State now completed, we have set our sights toward capturing the substantial opportunities for our core business of life insurance, pension and retirement services and asset management," Wynaendts said.