Aegon reports second half year 2025 results

Core Insights - Aegon's 2025 results reflect the effectiveness of its strategy, achieving or surpassing all financial targets set during the 2023 Capital Markets Day [3] - The company generated EUR 1.3 billion in operating capital, exceeding its EUR 1.2 billion target, and reported EUR 829 million in free cash flow, aligning with its target of approximately EUR 800 million for 2025 [4][6] Financial Performance - Aegon reported a full-year IFRS operating result of EUR 1.7 billion, marking a 15% increase compared to 2024 [4] - The net result for 2025 was EUR 980 million, a 45% increase from 2024, while the net result for the second half of 2025 was EUR 375 million, down from EUR 741 million in the second half of 2024 [7] - The operating result for the second half of 2025 was EUR 858 million, an 11% increase from the second half of 2024, driven by growth across all business units [7] Capital Management - Aegon returned EUR 1.1 billion to shareholders through dividends and share buybacks in 2025 [6] - A proposed final dividend of 21 eurocents per share for 2025 represents an 11% increase compared to the final dividend of 2024, meeting the target of EUR 0.40 for the full year [6][7] Business Unit Performance - Transamerica's distribution network expanded to over 95,000 licensed agents, achieving a record 30% increase in individual new life sales in 2025 compared to 2024 [5] - The asset management business generated EUR 1.0 billion in net third-party inflows in 2025, while the UK Workplace Platform saw GBP 2.4 billion in net inflows [5] Strategic Focus - Aegon is focused on executing plans outlined at the 2025 Capital Markets Day, including relocating its head office and legal seat to the US [7]