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Aegon fair value losses 394 million euros

Christian Fernsby |
Aegon H1 underlying earnings decreased by 5% to EUR 1,010 million, reflecting lower fee income as a result of lower average asset balances in the US, and investments in the business to support growth.

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Topics: AEGON   


Fair value losses of EUR 394 million, driven by a strengthening of insurance provisions in the Netherlands as a result of adverse credit spread movements.

Realized gains on investments of EUR 275 million, driven by the sale of bonds to optimize the investment portfolio in the Netherlands.

Other charges of EUR 93 million include EUR 64 million model and assumption changes, mainly in the US.

Return on equity declines to 9.6% due to lower net underlying earnings.

Net outflows of EUR 2.7 billion despite higher gross deposits.

Net outflows of EUR 2.7 billion driven by contract discontinuances in US Retirement Plans as well as outflows in the US annuities businesses and on the UK institutional platform. These are partly offset by net inflows in Asset Management and the Netherlands.

New life sales decline by 4% to EUR 405 million.

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