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Aegon Q3 Business Update: Operating Capital Generation €336M Before Holding Expenses; Raised FY24 Operating Capital Target To ~€1.2B, Up From The Previous Estimate Of €1.1B

Author: Benzinga Newsdesk | November 15, 2024 06:00am

Aegon trading update for third quarter 2024 

• EUR 336 million operating capital generation, before holding funding and operating expenses. Full-year 2024 guidance raised to around EUR 1.2 billion, from around EUR 1.1 billion previously 

• Capital ratios of the main units remain above their respective operating levels 

• Planned new EUR 150 million share buyback program announced; completion expected in the first half of 2025. The program includes neutralization of shares issued for share-based compensation plans 

• Cash Capital at Holding of EUR 1.5 billion as of September 30, 2024. Expect to reach mid-point of the target range (EUR 1.0 billion) by the end of 2026 

• Completed program to purchase institutionally owned universal life policies. Terminated policies negatively impacted US RBC ratio by 16%-points. Expect 8%-points benefit in 4Q 2024 after equity funding repayment. Operating capital generation benefits from the program, as previously guided 

• Strong commercial momentum in Asset Management and UK Workplace platform. US Strategic Assets experience c

Posted In: AEG

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