Markets News

Aegon H1 earnings miss expectations on U.S. coronavirus impact

AMSTERDAM, Aug 13 (Reuters) - Dutch insurer Aegon reported lower than expected first half earnings as the coronavirus led to higher mortality and lower interest rates at its operations in the United States, where it does two-thirds of its business under the Transamerica brand.

The company said on Thursday it had underlying pre-tax earnings of 700 million euros ($826.70 million), down 31% from 1.01 billion euros in the same period of 2019, and 202 million in net income.

Analysts in a company-compiled poll had forecast on average underlying pre-tax earnings of 753 million euros, with net income of 262 million euros. ($1 = 0.8467 euros) (Reporting by Toby Sterling; Editing by Muralikumar Anantharaman)