Aegon reports 1H results (NYSE:AEG)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 22 2024
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Source: SeekingAlpha
Financial Performance: Aegon reported a net loss of €65 million for the first half of the year, with an operating result of €750 million, down 8.3% year-over-year, primarily due to fair value losses and unfavorable mortality experience in the US.
Shareholder Returns: The company completed a €1.535 billion share buyback program and initiated a new €200 million program, while also announcing a 2024 interim dividend of €0.16 per common share, reflecting a €0.02 increase from the previous year.
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Analyst Views on AEG
About AEG
Aegon Ltd. (Aegon) is an international financial service holding company. The Company offers products and services across insurance, long-term savings, banking and asset management. In the United States, the Company operates under two brands: Transamerica and World Financial Group Insurance Agency, which offers life insurance, investments and retirement solutions. In the Netherlands, Aegon focuses on life insurance, long-term savings, pension and annuity solutions, and mortgages. In the United Kingdom, Aegon is the investment platform, providing a range of investment, retirement solutions, and protection products to individuals, advisers, and employers. In China, the Company owns a stake in Aegon THTF Life Insurance Company, which offers life insurance solutions through a network of branches, primarily in eastern China. It also has a partnership with Banco Santander to distribute life, health, and non-life insurance products through the bank’s branches in Spain and Portugal.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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