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Aegon Q2 net loss 385 million euros

Staff Writer |
Aegon Q2 net loss was 385 million euros ($429.81 million) due to book loss on divestment of UK annuity book and fair value items.

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Underlying earnings were EUR 435 million; higher earnings from Europe more than offset by the Americas mainly due to adverse claims experience, low interest rates and lower variable annuity earnings.

Fair value items loss of EUR 378 million was mostly driven by the impact of low interest rates on hedging programs.

Net loss of EUR 385 million was due to book loss on divestment of UK annuity book and fair value items. Return on equity was 6.8%.

Solvency II ratio increased to an estimated 158%, as capital generation and management actions, including UK annuity book divestment, offset adverse market impacts.

Capital generation was EUR 0.9 billion; EUR 0.3 billion excluding market impacts and one-time items Gross leverage ratio increases to 29.6% driven by capital return to shareholders and net loss. Interim dividend increases 8% to EUR 0.13 per share;.