Aegon Expects Annual EUR150 Million Capital Generation Boost
June 19 2018 - 10:41AM
Dow Jones News
By Adam Clark
Dutch insurance and asset management company Aegon NV (AGN.AE)
said on Tuesday that its financial restructuring will increase its
annual capital generation by 150 million euros ($173.4
million).
In a presentation to analysts, Chief Financial Officer Matt
Rider said Aegon would retain part of the additional capital
generation to offset the impact of financial changes.
Mr. Rider also said Aegon's Netherlands and U.K. arms will
change their reporting structures. Aegon Netherlands will report in
four segments; life, banking, non-life and service businesses.
Aegon U.K. will report in two segments; existing business and
digital solutions.
Mr. Rider said that in the first half of 2018, all three of
Aegon's geographical regions will send remittances to the parent
company. The U.S. is expected to remit $450 million, the
Netherlands is expected to remit EUR100 million, and the U.K. is
expected to remit 50 million pounds ($65.9 million).
Aegon said all its units are expected to be in their target
zones for their capital ratios following financial changes in the
period from 2018 to 2020.
Shares were last up 2.8% at EUR5.47.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
June 19, 2018 10:26 ET (14:26 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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