By Ian Walker

Aegon NV (AGN.AE) Thursday reported a 26% rise in net profit for the first half of the year, driven by realized gains and lower other charges, although these were partly offset by a higher loss on fair value items.

The Dutch insurance and asset-management company made a net profit of 618 million euros ($689.8 million) in the six months ended June 30 compared with EUR491 million in the year-earlier period.

Underlying pretax profit--one of the company's preferred metrics, which strips out exceptional and other one-off items--was EUR1.01 billion compared with EUR1.06 billion and consensus forecasts of EUR988 million, taken from the company's website and based on 20 analysts forecasts.

The company blamed lower fee business outflows in the U.S. and increased investments to support growth and improve customer experience for the fall in underlying profit.

Aegon's Solvency II ratio--a measure of its balance-sheet strength--stood at 197% at June 30 compared with 211% at Dec. 31, 2018, and 215% at June 30, 2018.

The company has declared a dividend of 15 European cents a share compared with 14 cents a year earlier.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

August 15, 2019 02:02 ET (06:02 GMT)

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