Aegon trading update for first quarter 2025

Core Viewpoint - Aegon reported progress in business transformation during Q1 2025, with strong sales in the US and UK, and positive asset management net flows despite a challenging macroeconomic environment [2][3]. Financial Performance - Operating capital generation (OCG) before holding funding and operating expenses increased by 4% to EUR 267 million, reflecting business growth partially offset by unfavorable mortality experience in the US [7]. - Cash Capital at Holding was EUR 1.6 billion, indicating 68% completion of the 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 plan to reduce Cash Capital at Holding to around EUR 1.0 billion by the end of 2026 [3][7]. Business Segments - In the US, Aegon 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, indicating strong commercial momentum [7]. Regulatory and Capital Management - Aegon's capital ratios for main units remain above their respective operating levels, ensuring financial stability [7]. - The solvency ratio under the Bermuda framework, applicable from January 2028, is expected to be broadly similar to the current methodology [7]. Upcoming Events - Aegon's Annual General Meeting is scheduled for June 12, 2025, with the first half 2025 results to be released on August 21, 2025 [8].