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Aegon reports strong increase in earnings and capital ratio in 3Q 2017

November 09, 2017, 7:30 CET
2 minutes

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  1. Press releases

3Q 2017 Results | AEX:AGN | NYSE:AEG

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Aegon CEO, Alex Wynaendts

Net income increases by 31% driven by US

  • Underlying earnings up by 20% to EUR 556 million reflecting favorable claims experience, higher fee revenue as a result of favorable equity markets, and lower expenses in US
  • Gain from fair value items of EUR 159 million driven by positive real estate revaluations and hedging gains in US
  • Charge from assumption changes and model updates of EUR 198 million caused by conversion of the largest block of universal life business to a new model
  • Higher underlying earnings, fair value items and realized gains drive increase in net income to EUR 469 million
  • Return on equity for the quarter increases to 8.9%

Record gross deposits driven by fee-based business; outflows from contract discontinuances in Mercer block

  • Gross deposits increase by 65% to EUR 41 billion as a result of exceptionally strong asset management and UK platform deposits; net outflows of EUR 0.6 billion driven by lapses on retirement business acquired from Mercer
  • New life sales decline by 8% to EUR 202 million due to lower sales in US and exit from UK annuities
  • Accident & health and general insurance sales down by 17% to EUR 180 million from lower sales in US
  • Market consistent value of new business increases by 75% to EUR 121 million benefiting from management actions

Strong increase in Solvency II ratio to 195%

  • Solvency II ratio increases by 10%-points compared with last quarter to 195%. Capital generation and benefit from divestment of UK annuity book more than offset interim 2017 dividend
  • Capital generation of EUR 809 million including favorable market impacts and one-time items of EUR 485 million
  • Holding excess capital temporarily decreases to EUR 0.9 billion driven by capital injection into Dutch business
  • Gross financial leverage ratio improves by 20 basis points sequentially to 29.2% as a result of retained earnings

     

    Aegon 3Q Results KPIs

    All comparisons are against the third quarter of 2016, unless stated otherwise.

    Press releases (PDF)

    English version
    PDF 616.40 KB
    Nederlandse versie
    PDF 435.67 KB

    Related links

    Q3 2017 Results Presentation
    PDF 977.63 KB
    Financial Supplements Interim Financial Statements Webcast Infographic
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