Amsterdam  - Share values at Dutch insurer Giant Aegon gained 2.96 per cent Thursday morning, despite the release of final 2008 results confirming a historic net annual loss of 1.08 billion euros (1.38 billion dollars).

Investors had been prepared for a substantial loss after the company released its fourth-quarter results on February 17, confirming a loss of 1.2 billion euros in the fourth quarter of 2008.

Aegon said the loss is the result of write-offs on investments related to mortgages, corporate bonds and stock investments.

"The severe disruption in world financial markets significantly impacted Aegon's earnings during the fourth quarter of 2008," CEO Alex Wynaendts said.

He added Aegon's businesses in the United States, Netherlands and Britain were "on track to deliver on our target of 150 million euros in cost reductions in 2009."

Wynaendts said the company, which received 3 billion euros in capital support from the Dutch government on October 28, has not requested extra government support.

He did not, however, exclude the possibility of doing so in the future.

Aegon also said its shareholders would vote about two appointments at the next annual general shareholders meeting scheduled for April 22.

Arthur Docters van Leeuwen has been proposed as a member of the supervisory board for a four-year term. Jan Nooitgedagt has been presented to replace Jos Streppil on Aegon's executive board. (dpa)