{"id":85237,"date":"2023-11-16T07:57:18","date_gmt":"2023-11-16T12:57:18","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/dutch-insurer-aegon-raises-capital-generation-target-on-us-strength\/"},"modified":"2023-11-16T07:57:19","modified_gmt":"2023-11-16T12:57:19","slug":"dutch-insurer-aegon-raises-capital-generation-target-on-us-strength","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=85237","title":{"rendered":"Dutch insurer Aegon raises capital generation target on US strength"},"content":{"rendered":"
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\u00a9 Reuters. The head office of Dutch financial insurance company Aegon is seen in The Hague, October 28, 2008. Dutch insurer Aegon tapped into government funding on Tuesday, taking 3 billion euros ($3.7 billion) to strengthen its capital base eroded by investment los<\/span>
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By Gaelle Sheehan and Victor Goury-Laffont<\/p>\n

(Reuters) -Dutch insurer Aegon (NYSE:) raised its annual capital generation forecast on Thursday after topping third-quarter expectations on the same metric, driven by strong performance in its key U.S. market.<\/p>\n

Aegon has been simplifying its corporate structure by selling Central and Eastern European businesses while focusing on U.S. operations.<\/p>\n

It expects operating capital generation to be about 1.2 billion euros ($1.3 billion) this year. It had previously expected to reach the 1.2 billion euro threshold in 2025.<\/p>\n

However, the group maintained its 2025 targets and CEO Lard Friese told Reuters that “the strain on capital will be a bit higher” going forward.<\/p>\n

The company’s share price rose by 3.7% to about 5 euros by 0852 GMT.<\/p>\n

KBC analyst Thomas Couvreur pointed to “continued solid sales momentum and strong underlying results” in a note to investors.<\/p>\n

Aegon generated 310 million euros in operating capital in the third quarter after holding funding and operating expenses, up 29% from a year earlier and well above the 212 million euros expected by analysts.<\/p>\n

Aegon’s Americas region, which mostly consists of the U.S. business, represented two thirds of operating capital generation in the quarter.<\/p>\n

The picture was “a bit more mixed” in Britain, which generated about 15% of group operating capital, Friese said. The region’s total net deposit outflows widened by 6% to 1.92 billion pounds ($2.38 billion) in the quarter.<\/p>\n

This was because of a loss of one large client in its pension business, Friese said, adding that underlying growth was “still quite buoyant”.<\/p>\n

($1 = 0.9228 euros)<\/p>\n

($1 = 0.8078 pounds)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. The head office of Dutch financial insurance company Aegon is seen in The Hague, October 28, 2008. Dutch insurer Aegon tapped into government funding on Tuesday, taking 3 billion euros ($3.7 billion) to strengthen its capital base eroded by investment los By Gaelle Sheehan and Victor Goury-Laffont (Reuters) -Dutch insurer Aegon (NYSE:) raised […]<\/p>\n","protected":false},"author":1,"featured_media":2360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-85237","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nDutch insurer Aegon raises capital generation target on US strength | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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