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Aegon NV (AEG.N)

AEG.N on New York Stock Exchange

4.91USD
26 May 2017
Change (% chg)

$-0.04 (-0.81%)
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Latest Key Developments (Source: Significant Developments)

Aegon to divest majority of US run-off businesses
Monday, 22 May 2017 01:30am EDT 

May 22 (Reuters) - AEGON NV ::AEGON TO DIVEST MAJORITY OF US RUN-OFF BUSINESSES.HAS AGREED TO SELL ITS TWO LARGEST US RUN-OFF BUSINESSES, PAYOUT ANNUITY BUSINESS AND BANK OWNED / CORPORATE OWNED LIFE INSURANCE BUSINESS (BOLI/COLI), TO WILTON RE.UNDER TERMS OF AGREEMENT, AEGON'S TRANSAMERICA LIFE SUBSIDIARIES WILL REINSURE USD 14 BILLION OF LIABILITIES TO AFFILIATES OF WILTON RE US HOLDING INC.TRANSACTION AND RELATED MANAGEMENT ACTIONS ARE EXPECTED TO RESULT IN A CAPITAL RELEASE OF APPROXIMATELY USD 700 MILLION (EUR 630 MILLION) IN 2017..AS A RESULT OF ACTIONS ANNOUNCED TODAY, AEGON'S GROUP SOLVENCY II RATIO IS ESTIMATED TO IMPROVE BY APPROXIMATELY 6%-POINTS IN SECOND HALF OF 2017.AEGON EXPECTS ANNUAL CAPITAL GENERATION FROM ITS US OPERATIONS TO BE REDUCED BY APPROXIMATELY USD 30 MILLION (EUR 27 MILLION) FOLLOWING TRANSACTION.AFTER COMPLETION OF TRANSACTION AND RELATED MANAGEMENT ACTIONS, CAPITAL RELEASED FROM THIS TRANSACTION IS EXPECTED TO BE UPSTREAMED TO HOLDING.AEGON ANTICIPATES REINSURANCE TRANSACTION WILL RESULT IN A BOOK LOSS OF APPROXIMATELY USD 300 MILLION (EUR 270 MILLION), TO BE REPORTED IN OTHER CHARGES AT TIME OF CLOSING.TRANSACTION IS SUBJECT TO NORMAL REGULATORY APPROVALS AND IS EXPECTED TO CLOSE IN SUMMER OF 2017.  Full Article

Aegon Q1 underlying earnings before tax up at 488 million euros
Thursday, 11 May 2017 01:32am EDT 

May 11 (Reuters) - AEGON NV ::Q1 UNDERLYING EARNINGS BEFORE TAX EUR 488 MILLION ($530.21 MILLION) VERSUS EUR 462 MILLION YEAR AGO.Q1 NET INCOME EUR 378 MILLION VERSUS EUR 143 MILLION YEAR AGO.Q1 RETURN ON EQUITY WAS 7.2 PERCENT VERSUS 7.3 PERCENT YEAR AGO.Q1 SALES EUR 3.94 BILLION VERSUS EUR 3.56 BILLION YEAR AGO.AEGON’S SOLVENCY II RATIO REMAINED STABLE AT AN ESTIMATED 157 PCT DURING THE FIRST QUARTER.Q1 GROSS DEPOSITS INCREASE BY 13 PCT TO EUR 34 BILLION.  Full Article

Aegon clarifies its capital position in US
Friday, 17 Feb 2017 08:56am EST 

Aegon NV : Would like to clarify its capital position in United States . Manages its US capital position under multiple frameworks, of which NAIC risk-based capital (RBC) framework is considered most important one . Estimated RBC ratio amounted to 440 pct at year-end 2016, at high-end of its 350-450 pct target range .Confirms that its current Standard & Poor's capital position - contrary to certain information in market - is well above Standard & Poor's 'AA' level at year-end 2016.  Full Article

Aegon div well covered despite no divs from Netherlands, UK - conf call
Friday, 17 Feb 2017 03:56am EST 

Aegon NV : The dividend is well covered despite no dividend from the Netherlands and the UK- conf call Further company coverage: [AEGN.AS] (Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;)).  Full Article

BRIEF-Aegon Q4 underlying earnings up 27 pct at 554 million euros
Friday, 17 Feb 2017 01:56am EST 

Aegon NV : Q4 sales 2.73 billion euros ($2.91 billion) versus 2.89 billion euros year ago . Q4 underlying earnings up to 554 million euros . Final 2016 dividend per share of 0.13 euros . Q4 underlying earnings before tax 554 million euros versus 435 million euros year ago . Q4 net income 470 million euros versus 430 million euros in Reuters Poll . Q4 return on equity was 10.5 percent versus 7.7 percent year ago . In Q4 solvency II ratio increases to an estimated 159 pct driven by favorable spread movements and higher interest rates . Q4 new life sales amount to 240 million euros . In Q4 gross deposits of 23 billion euros; net outflows of 3.5 billion euros driven by outflows from Chinese money market funds and anticipated lapses on mercer block . Sees doubling the expense savings to be achieved from USD 150 million to USD 300 million by 2018 in Americas . With the planned operational performance improvements in the Americas, Aegon reaffirmed the company’s target of a group return on equity of 10 pct by 2018 .Target will be supported by a group-wide expense savings program of 350 million euros by 2018 and by returning 2.1 billion euros of capital to shareholders in the period 2016 to 2018.  Full Article

Aegon extends partnership with Auxmoney
Thursday, 26 Jan 2017 04:06am EST 

Aegon NV : Extends partnership with Auxmoney, leader in financial inclusion .Aegon will spearhead Auxmoney's Serie E financing round with a 15 million euro ($16.10 million) investment and will further fund Auxmoney's loans over the next three years..  Full Article

Aegon accelerates execution of strategy and increases expense savings
Thursday, 8 Dec 2016 07:00am EST 

Aegon NV : Aegon accelerates execution of strategy and increases expense savings . Reaffirms 2018 group financial targets . Return on equity of 10 percent through organic growth, expense savings and capital return . 2.1 billion euros ($2.26 billion) capital return to shareholders in 2016-2018 . Expense reduction program significantly increased to 350 million euros . Aegon is on track to reach its financial targets for 2018 . Company now aims to reduce its annual operating expenses by 350 million euros by year-end 2018, up from its original target of 200 million euros . Restructuring charges associated with expense savings target are expected to amount to 20 million euros in Q4 of 2016 . Announces actions to accelerate restructuring in US . Original USD 150 million expense savings plan will be completed in 2017, one year ahead of schedule, and the expense savings target to be achieved by year-end 2018 has now been doubled to $300 million . Further net reduction of over 500 positions . First phase of location strategy implemented - closing 3 offices . Strategic decision to exit Affinity, Direct TV and Direct Mail channels .Invest in capabilities to create a differentiated digital offering.  Full Article

Aegon to repurchase 30,765,224 common shares
Monday, 3 Oct 2016 02:00am EDT 

Aegon NV :Will repurchase 30,765,224 common shares to neutralize dilutive effect of 2016 interim stock dividend.  Full Article

Aegon to sell 100% of its shares of Aegon Life Ukraine to TAS group
Thursday, 22 Sep 2016 10:18am EDT 

Aegon NV : Has entered into an agreement to sell 100% of its shares of Aegon Life Ukraine to TAS group, and will exit the Ukrainian market. .The parties have agreed not to disclose the terms and conditions of the transaction.  Full Article

L&G says Cofunds sale to boost Solvency II surplus by 125 mln stg
Thursday, 11 Aug 2016 02:15am EDT 

Legal & General Group Plc : Legal & General to sell Cofunds and IPS to Aegon. .Says sale of Cofunds will increase Solvency II surplus by 125 million pounds, and its economic capital surplus by 105 million pounds..  Full Article

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Aegon sells some U.S. operations to boost solvency

AMSTERDAM Aegon , the Dutch-based insurer that does most of its business in the United States, said on Monday it would sell some U.S. operations to Wilton Re [WRFL.UL] to boost its financial strength under Europe's new Solvency II regime for insurers.