AEG - AEGON reports Q3 results

AEGON (NYSE:AEG): Q3 Net loss of €60M reflects a €470M one-time charge as a result of management actions to release capital and increase the predictability of capital generation from the US variable annuity business, in line with prior guidance. Press Release The Group recorded €2.2B of net outflows in the third quarter of 2021. Gross financial leverage decreased by €0.2B in the third quarter of 2021, resulting in €5.9B gross financial leverage per September 30, 2021. Operating result decreases by 16% compared with the third quarter of 2020 to €443M, as adverse claims experience in the US – with COVID-19 and a higher average claim size as the most important drivers – more than offsets increased fees from higher equity markets and the positive contribution from business growth. Cash Capital at Holding decreases to €961M, which reflects €192M dividends to shareholders and €212M deleveraging in this quarter The capital ratios of all three main units remain above their respective operating

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AEGON reports Q3 results