Aegon reports strong net income in Q4 2016

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Beleggingsadvies 17/02/2017 07:35
Strong improvement in underlying earnings driven by the Americas
•Underlying earnings up to EUR 554 million driven by strong expense management, improved claims experience and higher interest rates
•Expense savings reached an annual run rate of EUR 110 million, significantly exceeding the 2016 target
•Fair value items result of EUR (13) million as gains in the Netherlands from widening credit spreads and higher interest rates were offset by losses in the United States as a result of market volatility
•Net income of EUR 470 million driven by strong underlying earnings and one-time tax benefits
•Return on equity increases to 10.5%, and 9.1% excluding one-time tax benefits

Continued solid gross deposits; net outflows mostly from lower margin businesses
•Gross deposits of EUR 23 billion; net outflows of EUR 3.5 billion driven by outflows from Chinese money market funds and anticipated lapses on Mercer block
•New life sales amount to EUR 240 million partly driven by shift to fee-based solutions in NL
•Accident & health and general insurance sales down 5% to EUR 225 million following product exits in US
•Market consistent value of new business of EUR 118 million benefiting from higher interest rates

Solvency II ratio benefits from market movements
•Solvency II ratio increases to an estimated 159% driven by favorable spread movements and higher interest rates
•Capital generation of EUR 0.3 billion, excluding market impacts and one-time items of EUR 0.3 billion
•Review of current 75% level of loss absorbing capacity of deferred taxes to be completed before the end of the second quarter of 2017
•Holding excess capital increases to EUR 1.5 billion and gross leverage ratio to 29.9% as a result of senior debt issuance
•Final 2016 dividend per share of EUR 0.13

During 2016, we made good progress...growing our business, realizing major expense savings and increasing our returns...


Alex Wynaendts

Aegon CEO

Read CEO Alex Wynaendt's full statement
Aegon Q4 Results KPIs(external link)

All comparisons are against the fourth quarter of 2015, unless stated otherwise.

lees en zie meer op
https://www.aegon.com/en/Home/Investors/News-releases/2017/Earnings-Q4-2016/

tijd 09.03
AEX 493,48 -0,50 -0,10% Aegon EUR 5,419 +15,4 ct vol. 1,6 milj.



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