Aegon reports first quarter 2015 results

15.05.2015 – aegon_logo_150Underlying earnings decrease to Euro 469 million as fee business growth and the stronger US dollar were more than offset by adverse claims experience in the US, higher surrenders in CEE and low interest rates. Hedging programs drive fair value loss of Euro 159 million.  Net income amounts to Euro 316 million. Return on equity of 6,6 Percent and 7,2 Percent excluding capital allocated to run-off businesses.

Statement of Alex Wynaendts, CEO: “Aegon reported disappointing underlying earnings this quarter, primarily due to adverse claims experience in the US. While the seasonal effect on claims was expected, both the number of claims and amounts were higher than anticipated. Net income was nevertheless solid, amounting to over Euro 300 million.

“I am pleased that we maintained the strong momentum in growing our business profitably, despite the persistent low interest rate environment. Moreover, the record sales that we achieved across the company highlight the trust we enjoy from a growing number of customers who are choosing Aegon to help them secure their financial futures.

“During the last quarter, we made substantial progress in executing our strategy and capitalizing on new distribution agreements. Looking ahead, we have every confidence that the actions we are taking across our businesses will further strengthen our growth prospects for the future.”

Link: Aegon reports first quarter 2015 results

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