Aegon reports higher earnings and sales for Q4 2014

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Algemeen advies 19/02/2015 08:25
Proposal to increase final dividend to EUR 0.12 per share.
Continued solid business performance
• Underlying earnings increase to EUR 562 million, driven by growth of the business (EUR 37 million), an employee benefit release in the Netherlands (EUR 45 million) and the stronger US dollar (EUR 25 million)
•Hedging programs and alternative investments main drivers of fair value items loss of EUR 132 million
•Net income up strongly to EUR 399 million, supported by higher realized gains on investments
•Return on equity of 9.7% and 10.5% excluding capital allocated to run-off businesses

Key markets deliver strong sales growth; asset base continues to expand
•Gross deposits up 29% to EUR 13.7 billion, driven by asset management, variable annuities, mutual funds and Knab; net deposits of EUR 2.4 billion (excluding stable value products)
•Life sales increase 9% to EUR 523 million, mainly as a result of higher universal life sales in US and Asia
•Accident & health and general insurance sales 14% higher to EUR 226 million, driven by US
•Profitability of sales remains strong with MCVNB of EUR 196 million despite lower interest rates

Gross leverage and fixed charge cover targets achieved after debt redemption
•Gross leverage ratio improves to 28.7% and fixed charge cover increases to 6.5x
•Solvency ratio at 208%; holding excess capital of EUR 1.25 billion after debt redemption
•Operational free cash flows excluding market impacts and one-time items of EUR 338 million


Statement of Alex Wynaendts, CEO


"Aegon's strong fourth quarter results complete a solid year for the company, in what continues to be a challenging environment with persistent low interest rates and market volatility. Higher sales and earnings this quarter evidence the strength of our franchise and the continued trust of our customers.

"Executing on our key strategic objective of optimizing our portfolio of businesses, we announced the sale of our Canadian operations, as well as our stake in La Mondiale Participations in France. At the same time, we continue to invest in growth opportunities. Recently, we announced an asset management partnership with La Banque Postale in France, and we are pleased to conclude a distribution agreement with BANCOOB in Brazil.

"Aegon is well-positioned to serve the diverse and growing financial needs of our current and future customers. Moreover, we remain committed to generating long-term value for all stakeholders. I am therefore pleased that our solid capital position and cash flows enable us to announce an increase in the final dividend to 12 eurocents per share."

lees meer op
http://www.aegon.com/en/Home/Investors/News-presentations/Press-Releases/2014/Earnings-Q4-2014/

tijd 09.11
De AEX 467,78 +0,46 +0,10% Aegon EUR 6,768 +12ct vol. 1,9 milj.



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