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Aegon Q2 underlying earnings increase to 549 million euros

Staff writer |
Aegon reported second quarter 2015 results. Underlying earnings increase to EUR 549 million as fee business growth and the stronger US dollar were partly offset by lower U.S. life & protection results, including adverse mortality of EUR 17 million.

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Equity and interest rate hedging programs main drivers of fair value losses of EUR 293 million. Net income amounts to EUR 350 million. Return on equity of 8.2% and 8.9% excluding capital allocated to run-off businesses Continued strong profitable sales.

US retirement plans and asset management main drivers behind gross deposits of EUR 16.8 billionand net deposits of EUR 3.2 billion. New life insurance sales level at EUR 518 million. Accident & health and general insurance sales stable at EUR 248 million.

Market consistent value of new business of EUR 183 million impacted by low interest rates. Increase in interim dividend supported by strong cash flows. Operational free cash flows excluding market impacts and one-time items of EUR 388 million.

Holding excess capital of EUR 1.5 billion and gross leverage ratio improves to 27.7%. Interim dividend increases to EUR 0.12 per share; dilutive effect of stock dividend to be neutralized. More clarity obtained on Solvency II; ratio now expected to be in the range of 140 – 170%.


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