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Aegon NV (AEGN.AS)

AEGN.AS on Amsterdam Stock Exchange

3.55EUR
23 Sep 2016
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Latest Key Developments (Source: Significant Developments)

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

BRIEF-Aegon acquires Cofunds from Legal & General for 140 mln stg
Thursday, 11 Aug 2016 01:51am EDT 

Aegon NV : Announces acquisition of Cofunds from Legal & General for GBP 140 million (164 million euros) . Transaction is expected to close by end of 2016, subject to customary regulatory approval, and integration of business is expected to be completed by 2018 . Expects to generate GBP 60 million of annualized cost synergies by moving Cofunds business onto state-of--art aegon technology . These cost savings are expected to lead to an estimated solvency II capital benefit of GBP 150 million before end of 2017, which significantly limits net investment for acquisition of Cofunds . Acquisition of Cofunds will contribute to achieving group's return on equity target .Aegon's UK subsidiaries expect to resume dividend payments to holding in 2017 in line with earlier guidance.  Full Article

Aegon Q2 underlying earnings before tax miss Reuters poll
Thursday, 11 Aug 2016 01:46am EDT 

Aegon NV : Q2 net loss of 385 million euros ($429.81 million) due to book loss on divestment of UK annuity book and fair value items . Q2 sales 2.77 billion euros versus 2.34 billion euros year ago . Q2 underlying earnings before tax 435 million euros versus 476 million euros in Reuters poll . Q2 net loss 385 million euros versus loss of 328 million euros in Reuters poll . Maintains solid capital ratio despite volatile markets in q2 2016 . Interim dividend increases 8 pct to 0.13 euro per share; intention to neutralize dilutive effect of stock dividend . Solvency II ratio increased to an estimated 158 pct, as capital generation and management actions, including uk annuity book divestment, offset adverse market impacts . The company’s geographic footprint in the U.S. is under evaluation .In U.S. Aegon is also exploring the sale of non-core legal entities that would bring greater simplification and enhance returns..  Full Article

Aegon acquires Cofunds
Thursday, 11 Aug 2016 01:31am EDT 

Aegon NV : Announces acquisition of Cofunds from Legal & General for GBP 140 million (164 million euros) . Transaction is expected to close by end of 2016, subject to customary regulatory approval, and integration of business is expected to be completed by 2018 . Expects to generate GBP 60 million of annualized cost synergies by moving Cofunds business onto state-of--art aegon technology . These cost savings are expected to lead to an estimated solvency II capital benefit of GBP 150 million before end of 2017, which significantly limits net investment for acquisition of Cofunds . Acquisition of Cofunds will contribute to achieving group's return on equity target .Aegon's UK subsidiaries expect to resume dividend payments to holding in 2017 in line with earlier guidance.  Full Article

Aegon gives update on divestment of its GBP 9 billion annuity portfolio in UK
Tuesday, 12 Jul 2016 02:00am EDT 

Aegon Nv : Aegon announced in Q2 divestment of its GBP 9 billion ($11.77 billion) annuity portfolio in United Kingdom through two transactions, to Rothesay Life and Legal & General . Confirms that disposals are proceeding as planned, with market and underwriting risks transferred to counter parties . In line with earlier communicated estimates this will lead to a total capital release of GBP 500 million once both transactions have been finalized . Whereas absolute amount of capital release is unchanged, relative impact on UK operations solvency II ratio in Q2 amounts to about 20 pct combined . In finalizing transaction agreements and as part of its quarterly closing process, Aegon has adjusted IFRS book loss on these transactions .In its Q2 2016 results, Aegon will incur a post-tax book loss of GBP 481 million (618 million euros), up from gbp 245 million (315 million euros) previously indicated.  Full Article

Aegon announces repurchase of shares to neutralize final stock dividend
Monday, 4 Jul 2016 02:00am EDT 

Aegon NV : Aegon announces repurchase of shares to neutralize final stock dividend .Shares will be held as treasury shares and will be used to pay future stock dividends.  Full Article

Aegon UK says message to pension savers: "don't panic"
Friday, 24 Jun 2016 03:52am EDT 

Aegon Nv : Aegon uk pensions director steven cameron says message to pension savers is "don't panic", take advice before withdrawing money . Aegon uk pensions director says uk government "may consider other changes to pensions in response to wider economic conditions...we will be monitoring closely any possible impact on our customers" Further company coverage: [AEGN.AS] ((carolyn.cohn@thomsonreuters.com;)).  Full Article

Aegon divests remaining part of UK annuity portfolio
Monday, 23 May 2016 02:00am EDT 

Aegon NV : Announces sale of 3 billion pound ($4.35 billion) annuity liabilities to Legal & General . Expected solvency II capital release following completion of transaction announced today is approximately 275 million pounds . Aegon will initially reinsure 3 billion pounds of liabilities to Legal & General followed by a part VII transfer . Aegon expects annual capital generation from its UK operations to be reduced by approximately 30 million pounds (38 million euros) as a result of transaction . Underlying earnings before tax are expected to be reduced by approximately 16 million pounds (20 million euros) per annum .Reinsurance transaction is expected to result in an IFRS loss of approximately 215 million pounds (273 million euros), which will be reported in other charges in Q2 of 2016.  Full Article

Aegon Q1 underlying earnings increase to 462 million
Thursday, 12 May 2016 01:30am EDT 

Aegon NV : Q1 underlying earnings increase to 462 million euro (Reuters poll: 471 million euro) . Q1 net income down to 143 million euro ($163.3 million) . Q1 new life insurance sales down 11 pct to 266 million euro driven by lower sales in Asia and Poland . Solvency II ratio declines to about 155 pct on a pro forma basis . Q1 sales of 3.56 billion euro versus 2.63 billion euro a year ago . Q1 return on equity of 7.3 pct . Impairments were 36 million euro for quarter and primarily related to investments in energy industry in United States .Anticipates US deparment of labor fiduciary rule to have a short-term negative impact on variable annuity sales of approximately 10 pct - 20 pct.  Full Article

Aegon to acquire Blackrock’s UK Defined Contribution platform and administration business
Monday, 2 May 2016 08:00pm EDT 

Aegon NV:Aegon to acquire Blackrock’s UK Defined Contribution platform and administration business.Aegon to acquire approximately 12 billion pounds (about 15 billion euros) of assets and 350,000 customers.  Full Article

BRIEF-Aegon to sell 100% of its shares of Aegon Life Ukraine to TAS group

* Has entered into an agreement to sell 100% of its shares of Aegon Life Ukraine to TAS group, and will exit the Ukrainian market.