Aegon reports net loss of EUR 65 million, initiates new share buyback program

From GlobeNewswire: 2024-08-22 01:00:00

Aegon reported a net loss of EUR 65 million in the first half of 2024, with operating capital generation decreasing by 5% to EUR 588 million due to unfavorable mortality experience in the US. Shareholders’ equity per share dropped by 6% to EUR 4.02. A new EUR 200 million share buyback program has been initiated.

Despite challenges, Aegon CEO Lard Friese highlighted strong sales growth in the US, UK, and Brazil. Capital ratios of main units increased, with cash capital remaining above the operating range. The company is on track to meet 2024 guidance and expects an increase in operating results from assumption updates. A EUR 373 million Free Cash Flow was reported.

Aegon completed a EUR 1.535 billion share buyback program and began a new EUR 200 million program. The company remains focused on creating leading investment, protection, and retirement solutions. Net sales increased in key markets, and interim dividend per share rose to 16 eurocents. Aegon will continue executing its strategy for the remainder of 2024.



Read more at GlobeNewswire:: Aegon reports first half year 2024 results