Aegon 2nd Half Net Profit Dropped Amid Market Turmoil
14 Février 2019 - 07:52AM
Dow Jones News
By Adria Calatayud
Aegon NV (AGN.AE) said Thursday that net profit fell 83% in the
second half of 2018 after a challenging period in which the company
was hit by market turmoil.
The Dutch insurance and asset-management company said it made a
net profit of 253 million euros ($286.0 million) in the six months
to Dec. 31 compared with EUR1.45 billion in the year-earlier
period.
The company said the lower net profit reflected value losses as
a result of market movements. In 2017, the company received a
one-off boost from U.S. tax reforms.
Underlying pretax earnings fell 8% to EUR1.01 billion, as lower
retirement-plans earnings in the U.S. offset business growth and
higher margins in Europe, Aegon said.
Aegon's Solvency II ratio, a measure of its balance-sheet
strength, declined four percentage points during the second half to
211%.
The company declared a final dividend of EUR0.15 a share
compared with EUR0.14 a share a year earlier.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
February 14, 2019 01:37 ET (06:37 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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