Aegon to relocate headquarters and legal domicile to US

Core Viewpoint - Dutch insurer Aegon is relocating its headquarters and legal domicile to the US to focus on life insurance and retirement operations, with plans to adopt US GAAP for financial reporting starting in 2027 [1][2] Group 1: Relocation and Rebranding - Aegon will stop issuing trading updates from 2026 to 2027, providing only half-year reports during this period [2] - The relocation is set to be completed by January 1, 2028, with the holding company rebranded as Transamerica, while existing business units will retain their branding [2] Group 2: Shareholder Approval and Business Strategy - Aegon plans to hold a shareholder meeting in Q4 2026 to secure approval for the legal domicile move to the US [3] - The company intends to reinsure 30% of its secondary guarantee universal life contracts, increasing the total covered to 80% of the overall portfolio [3] Group 3: Financial Impact and Investments - Unwinding financing structures will introduce tax limitations and realized losses, affecting the risk-based capital (RBC) ratio [4] - Aegon plans an $800 million investment into Transamerica to offset the RBC impact and support annual operating capital generation of $75 million [4] Group 4: Sales Growth Targets - Transamerica aims to increase total life sales through its affiliated network, World Financial Group (WFG), by 14% annually, targeting approximately $900 million [5] - WFG's annual annuity sales are projected to grow by 7% per year, reaching around $5 billion by 2027 [5] - The Protection Solution business aims for a 15% annual increase in life sales, targeting roughly $720 million by 2027 [5] Group 5: Shareholder Returns and Operating Results - Aegon announced a €400 million share buyback program to enhance shareholder returns, scheduled to begin in January 2026 [6] - Operating results are forecasted to rise by approximately 5% annually from €1.5 billion to €1.7 billion between 2025 and 2027, primarily driven by US strategic assets [6]