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Aegon reports first quarter 2021 results
May 12, 2021 GMT
Strong progress on expense savings program and plans to improve risk profile
Net result of EUR 386 million in the first quarter of 2021 reflects increased operating result and benign credit environment
Operating result increases by 20% to EUR 431 million, mainly driven by expense savings and higher equity markets, partly offset by adverse claims experience in the United States mostly due to COVID-19
Cash Capital at Holding amounts to EUR 1.2 billion, in the upper half of Aegon’s target range; capital ratios of all three main units are around or above their respective operating levels
Aegon N.V.: Aegon reports first quarter 2021 results
Strong progress on expense savings program and plans to improve risk profile
Net result of EUR 386 million in the first quarter of 2021 reflects increased operating result and benign credit environment
Operating result increases by 20% to EUR 431 million, mainly driven by expense savings and higher equity markets, partly offset by adverse claims experience in the United States mostly due to COVID-19
Cash Capital at Holding amounts to EUR 1.2 billion, in the upper half of Aegon s target range; capital ratios of all three main units are around or above their respective operating levels
Free cash flow of EUR 75 million in the first quarter of 2021 compared with EUR 61 million in the first quarter of 2020
Aegon N.V.: Aegon reports second half-year 2020 results
Improved operating performance; dividend well covered by Free Cash Flows
Net loss of EUR 147 million in the second half of 2020, mainly as a result of an increase of the value of liabilities in the Netherlands due to tightening credit spreads, reversing the movement seen in the first half of the year
Underlying earnings before tax increase by 7% to EUR 1,029 million driven by the benefit from higher equity markets in the United States and Asset Management, and expense savings. COVID-19 had a manageable impact, as it led to both adverse mortality and favorable morbidity in the US, which broadly offset each other