Aegon begins share buyback program
Aegon today announces the beginning of a EUR 1.5 billion share buyback program. This follows the completion of the combination of its Dutch pension, life and non-life insurance, banking, and mortgage origination activities with a.s.r. that was announced on July 4, 2023.
The share buyback program will commence on July 6, 2023 and is expected to be completed on or before June 30, 2024, barring unforeseen circumstances. Aegon will engage a third party to execute the buyback transactions on its behalf. The common shares will be repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period. Aegon intends to cancel these shares subject to the relevant board, shareholder and regulatory approvals. The share buyback program will be executed in compliance with the Market Abuse Regulation and within the limitations of the existing authority to buy back a maximum of 30% of the issued shares as granted by the 2023 Annual General Meeting of Shareholders.