Aegon trading update for first quarter 2025

Company Overview - Aegon is an international financial services holding company focused on investment, protection, and retirement solutions [8][9] - The company operates fully owned businesses in the United States and the United Kingdom, along with global asset management and joint ventures in various countries [8][9] Financial Performance - In Q1 2025, Aegon reported a 4% increase in operating capital generation (OCG) to EUR 267 million, driven by business growth despite unfavorable mortality experience in the US [7] - The company’s cash capital at Holding was EUR 1.6 billion, indicating 68% completion of an ongoing EUR 150 million share buyback program as of March 31, 2025 [7] - Aegon announced a new EUR 200 million share buyback program, expected to be completed by the end of 2025, as part of a strategy to reduce cash capital at Holding to around EUR 1.0 billion by the end of 2026 [3][7] Business Segments - Aegon’s US operations saw strengthened distribution capabilities and increased individual new life sales through Transamerica [2] - The UK Workplace business generated strong net inflows, while international joint ventures reported higher sales [2] - Asset management third-party net flows remained positive, although there were net outflows in US mid-sized retirement plans and the UK Adviser platform [7] Market Outlook - Despite an uncertain macroeconomic environment, Aegon expects to meet its 2025 financial targets, supported by well-capitalized businesses and significant excess liquidity at the Holding [3] - The solvency ratio under the Bermuda framework, applicable from January 2028, is expected to be broadly similar to the current solvency ratio [7]