Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is Aegon NV (AEG) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.Aegon NV is a member of our Finance group, which includes 858 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks ...

Core Viewpoint - Aegon will reset the coupon on its EUR 113 million perpetual cumulative subordinated bonds on June 8, 2025, with the new coupon rate to be published around June 3, 2025 [1][2]. Group 1: Bond Details - The bonds, originally issued in 1995, have a current coupon rate of 1.506% and will continue to be outstanding under their terms [1]. - Aegon has the option to call the bonds or reset the coupon every ten years, with the next optional redemption date set for June 8, 2035 [2]. Group 2: Company Overview - Aegon is an international financial services holding company focused on investment, protection, and retirement solutions, with operations in the United States, United Kingdom, and various global partnerships [4][5]. - The company aims to positively impact critical environmental and societal issues, emphasizing climate change and inclusion [5].

Financial Performance - Aegon reported an operating result of EUR 1,485 million for the full year 2024, reflecting a significant performance in its financial services[32] - The company has a cash capital at holding of EUR 1.7 billion, indicating strong liquidity and financial stability[32] - Aegon achieved free cash flow of EUR 759 million, highlighting its ability to generate cash from operations[33] - Aegon's revenue-generating investments totaled EUR 897 billion, demonstrating its substantial investment portfolio[33] - Aegon achieved an Operating Capital Generation (OCG) of EUR 1.2 billion for 2024, meeting its guidance[58] - The company generated an IFRS operating result of EUR 1.5 billion in 2024[58] - Aegon proposed a final dividend of 19 eurocents per share, resulting in a total dividend of 35 eurocents per share for the full year 2024, up 17% compared to 2023[60] - Aegon completed a EUR 1.535 billion share buyback program related to the combination of its Dutch businesses with a.s.r.[61] - Aegon aims to grow its dividends in line with its free cash flows, with financial leverage remaining stable at EUR 5.2 billion over 2024[124] Customer Engagement and Satisfaction - Aegon serves approximately 24.4 million customers across its various markets, showcasing its extensive reach and customer base[32] - The annual employee engagement score was reported at 79%, indicating a positive work environment and employee satisfaction[33] - Transamerica's Net Promoter Score (NPS) for life customers is 36, for retirement is 72, and for advisors is 55, indicating a strong commitment to customer satisfaction[161] - Aegon UK reported an NPS of 28 for individual customers, -8 for advisors, and 26 for employers, highlighting areas for improvement in customer satisfaction[177] Strategic Initiatives and Growth Plans - Aegon has a strategic shareholding of close to 30% in a.s.r., a leading Dutch insurance company, following the combination of its Dutch operations with a.s.r.[43] - The company aims to enhance its digital savings and retirement platform in the UK, targeting workplace and advisor markets for growth[38] - Aegon UK launched the Aegon Digital Experience (ADX) to enhance customer experiences and improve data analytics capabilities[66] - Aegon plans to accelerate the transformation of Aegon UK into a leading digital savings and retirement platform[56] - Transamerica plans to grow the number of agents in its Distribution business segment from over 86,000 to 110,000 by the end of 2027[91] - Aegon UK aims to grow combined assets under administration of its Adviser and Workplace platforms to over GBP 135 billion by 2028[96] - Transamerica targets approximately USD 750 million of annual new life sales in Individual Life by 2027[93] - Aegon UK plans to roll out the Mylo app in 2025 to help customers consolidate pension schemes and enhance financial decision-making[179] Climate and Sustainability Efforts - Aegon published interim climate targets for 2030, aiming to reduce carbon impact and invest an additional USD 1 billion in climate change initiatives[75] - Aegon achieved a 52% reduction in weighted average carbon intensity (WACI) of corporate fixed income and listed equity general account assets in 2024, exceeding its 2025 target of 25%[133] - The company invested USD 2.7 billion in activities to mitigate climate change, surpassing its 2025 target of USD 2.5 billion[133] - Aegon aims to reduce the scope 1 and 2 carbon intensity of its directly held real estate investments by 42% by 2030, against a 2019 baseline[136] Employee Development and Diversity - The company spent EUR 5.9 million on training and development in 2024[148] - Aegon's global gender pay gap for 2024 is calculated at 30.4%, with an adjusted gap of 11.2% when accounting for factors like seniority and tenure[217] - The percentage of women in senior management positions increased from 32% in 2020 to 39% by the end of 2024, reflecting a consistent annual increase of 2 percentage points from 2020 to 2023[216] - Aegon conducted two Global Employee Surveys in 2024, achieving a participation rate of 81% in the most recent survey[206] - Aegon is committed to creating inclusive workspaces and has implemented various initiatives to support this goal[215] - Aegon's Inclusion and Diversity approach is overseen by the Global Head of Leadership, Talent, and Inclusion, ensuring consistent policies across all business units[211] Organizational Changes and Acquisitions - The completion of the sale of Aegon the Netherlands on July 4, 2023, has led to changes in its accounting practices related to fair value hedge accounting[23] - Aegon completed the acquisition of Nationwide Building Society's financial planning teams in February 2024 to support its Advice franchise growth[96] - Aegon UK completed the acquisition of Nationwide Building Society's advice business, expanding its range of advice services[182] - Aegon is relocating its global headquarters to the World Trade Center Schiphol Airport in 2024, aiming to create a collaborative and inclusive environment[203] Community Investment - Aegon supported nearly 500 charities with a total community investment of almost EUR 10 million in 2024[76]

Core Insights - Aegon Ltd. has published its Integrated Annual Report 2024, which outlines the company's business overview, strategy, sustainability approach, and both financial and non-financial performance [1] - The report discusses key trends affecting Aegon's businesses and stakeholders, emphasizing how these trends influence value creation and sharing [1] Company Overview - Aegon is an international financial services holding company focused on investment, protection, and retirement solutions [5] - The company operates fully owned businesses in the United States and the United Kingdom, along with a global asset manager [5] - Aegon creates value through partnerships in various countries, including insurance joint ventures in Spain, Portugal, China, and Brazil, as well as asset management partnerships in France and China [5] Sustainability and Impact - Aegon's purpose is to help people live their best lives, with a commitment to addressing critical environmental and societal issues, particularly climate change and inclusion & diversity [6] - The company aims to have a positive impact as a leading global investor and employer [6] Reporting and Accessibility - The Integrated Annual Report 2024 can be downloaded from Aegon's website, and a hard copy can be requested from the Investor Relations department [2] - Aegon will also file its Annual Report 2024 on Form 20-F with the United States Securities and Exchange Commission (SEC), which will be available on both Aegon's website and the SEC website [3]

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Financial Data and Key Metrics Changes - Aegon reported an operating result of nearly €1.5 billion for 2024, consistent with last year's results, with improved claims experience following assumption updates [5] - Free cash flow for 2024 was €759 million, meeting guidance, and a final dividend of €0.19 per common share was proposed, bringing the full-year dividend to €0.35 per share, a 17% increase from 2023 [6][59] - The group's operating results increased to €776 million, driven by U.S. Strategic Assets and Aegon Asset Management, with a 14% increase in IFRS operating results compared to the prior year [28][30] Business Line Data and Key Metrics Changes - In the U.S., annuity sales through the WFG network increased by 22% compared to 2023, while new life sales decreased by 3% [12][15] - The U.K. saw net deposits in the Workplace platform amounting to £3.7 billion, more than double the level of 2023, while the Adviser platform experienced net outflows of £3.5 billion [17] - Aegon Asset Management reported strong results with third-party net deposits of €9.2 billion, driven by inflows in alternative fixed income funds [21] Market Data and Key Metrics Changes - New life sales in the International segment decreased by 15% compared to 2023, primarily due to pricing actions in China reflecting lower interest rates [19] - In Brazil, gross written premiums increased by more than 15%, indicating strong customer retention despite a slight decrease in new life sales [97] - The U.K. market showed a favorable increase in assets under administration, which amounted to £115 billion, up 11% compared to the end of 2023 [18] Company Strategy and Development Direction - Aegon is focused on transforming Transamerica into a leading middle-market life insurance and retirement company in the U.S. and is executing a strategy to reverse outflows in the Adviser platform [7][10] - The company aims to reduce exposure to Financial Assets while growing Strategic Assets, with a target of €1.2 billion in operating capital generation for 2025 [62] - Aegon is committed to generating attractive returns for shareholders, evidenced by a €150 million share buyback program [6][59] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting 2025 targets, highlighting solid growth in Strategic Assets and a commitment to expense discipline [62] - The company acknowledged challenges in the International segment, particularly in China, due to low interest rates impacting life insurance sales [90][101] - Management noted that while 2024 was a record year for the Workplace business, they expect continued growth but recognize the need for caution due to exceptionally high performance [120] Other Important Information - The group solvency ratio decreased by 2 percentage points to 188% at the end of December 2024 [28] - Aegon is making steady progress towards reducing capital employed in Financial Assets, targeting $2.2 billion by the end of 2027 [52] - The company completed a program to purchase institutionally owned Universal Life policies ahead of schedule, reducing exposure to mortality risks [9][54] Q&A Session Summary Question: Can you help me understand the moving parts leading you to reiterate your 2025 guidance? - Management reiterated that the guidance remains stable, with favorable tailwinds from higher equity markets and dollar strength, offset by weaker performance in the International segment, particularly in China [66][70] Question: What kind of interest rate benefits are you modeling? - Management indicated that while they are reinvesting at higher rates, competitive pressures are limiting the benefits to operating capital generation [72][73] Question: Can you say what the solvency is now in China? - The local comprehensive solvency ratio in China was reported at 228%, significantly above regulatory thresholds [88] Question: What can you say about potential disposals or restructuring in the international business? - Management confirmed that international businesses are core to the group, with ongoing monitoring of the situation in China, but no plans for disposals [96][101] Question: Is there anything else that you are looking at in your accounting? - Management noted that the reclassification of onerous contracts was appropriate and that they will continue to monitor the situation for any necessary adjustments [108][115]

The Hague - February 20, 2025. Please click here to access all 2H 2024 results related documents.  2H 2024 IFRS results Net profit of EUR 741 million as operating result and benefit from the a.s.r. stake are partly offset by restructuring charges and net impairments in the USOperating result of EUR 776 million, up 14% compared with the second half of 2023, reflecting improved experience variance in the US and business growth in the US and asset managementShareholders’ equity per share of EUR 4.53, increases ...

Partnership Announcement - H'ART Museum and Aegon Ltd announce a strategic partnership effective January 1, 2025, for an initial period of two years [1] - The collaboration aligns with H'ART Museum's reputation as a hub for world-class art collections and Aegon's international strategy [2] - The partnership aims to support H'ART Museum's efforts to showcase famous works of art and stories from around the world in unique exhibitions [3] H'ART Museum Overview - H'ART Museum connects a broad audience to a wide variety of art collections ranging from antiquity to the present day [3] - The museum is preparing the exhibition 'From Rembrandt to Vermeer, Masterpieces from The Leiden Collection' [3] - H'ART Museum collaborates with esteemed partners such as the Smithsonian American Art Museum, the British Museum, and the Centre Pompidou [8] - The museum is housed in a historic landmark building and features a courtyard garden and a Grand Café [8] - H'ART Museum hosts a wide array of events, including concerts, lectures, movie nights, and educational programs [8] Aegon Overview - Aegon is an international financial services holding company with businesses in the United States, United Kingdom, and global asset management [9] - The company operates insurance joint-ventures in Spain & Portugal, China, and Brazil, and asset management partnerships in France and China [9] - Aegon owns a Bermuda-based life insurer and holds a strategic shareholding in a leading Dutch insurance and pensions company [9] - Aegon's purpose is to help people live their best lives, with a focus on climate change and inclusion & diversity [10] - The company is headquartered in The Hague, domiciled in Bermuda, and listed on Euronext Amsterdam and the New York Stock Exchange [10] Strategic Alignment - The partnership with H'ART Museum aligns with Aegon's international strategy and commitment to supporting cultural institutions [5] - Aegon's upcoming move to its new headquarters at WTC Schiphol in mid-2025 coincides with the partnership [5] - The collaboration aims to inspire a wide audience through unique exhibitions, in line with Aegon's international strategy [5]

Group 1 - The article discusses the investment research service The Aerospace Forum, which focuses on the aerospace, defense, and airline industries, providing insights and data analytics for investment opportunities [1] - Aegon Ltd. was previously analyzed in relation to AT1 bonds of Credit Suisse, with a hold rating assigned due to a lack of perceived risk at that time [1] - The analyst, Dhierin, has a background in aerospace engineering and aims to provide context to industry developments that may impact investment theses [1] Group 2 - The investing group offers direct access to data analytics monitors, enhancing the research capabilities for investors in the aerospace sector [1] - The article emphasizes that past performance does not guarantee future results, highlighting the importance of careful investment consideration [2] - It is noted that the analysts contributing to the platform may not be licensed or certified, indicating a diverse range of perspectives in the analysis provided [2]

Core Points - Aegon has updated its net-zero targets for 2030, building on existing targets and reinforcing its commitment to transition its investment portfolio to net-zero GHG emissions by 2050 [1][3] - The new targets align with the guidance from the United Nations-convened Net-Zero Asset Owner Alliance (NZAOA), which provides a framework for science-based goals in line with the Paris Agreement [3] Summary by Categories 2030 Targets - Aegon aims to reduce the weighted average carbon intensity of its corporate fixed income and listed equity general account assets by 50% from a 2019 baseline [4] - The company plans to reduce the scope 1 and 2 carbon intensity of its directly held real estate investments by 42% from a 2019 baseline [4] - Aegon will invest an additional USD 1 billion, in addition to its existing USD 2.5 billion commitment, in activities to mitigate climate change or adapt to its impacts by 2030 [4] - The company will continue engagements with at least the top 20 corporate carbon emitters in its portfolio [4] Future Commitments - Beyond 2030, Aegon will update its targets every five years, in line with NZAOA guidelines [5]