Aegon 2Q Underlying Earnings Rise on Improved Claims
10 Août 2017 - 08:22AM
Dow Jones News
By Razak Musah Baba
LONDON--Aegon N.V. (AEG) on Thursday reported a 23% rise in
underlying earnings and also announced the sale of its Irish
business to help increase financial flexibility.
The Dutch insurer said for the second quarter, underlying pretax
earnings rose to 535 million euros ($609.6 million) from EUR435
million a year earlier, growth that it attributed to improved
claims experience and higher fee income from favorable equity
markets. As a result, return on equity increased to 8.4%, Aegon
added.
For the second quarter, Aegon reported a 42% rise in sales to
EUR3.94 billion from EUR2.77 billion. This was mainly due to an
increase in gross deposits by 52% to EUR34.8 billion, it said,
adding that the increase was primarily driven by strong
institutional platform sales in the U.K., which can fluctuate. In
addition, asset management gross deposits increased as a result of
higher gross inflows in the Americas and the Netherlands.
Also Thursday, Aegon said it agreed to sell Aegon Ireland PLC to
AGER Bermuda Holding Ltd., the holding company of the European
operations of Athene Holding Ltd.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
August 10, 2017 02:07 ET (06:07 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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