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AGN.AS - Aegon NV

Discussion in 'International Stock Markets' started by Marvan, Aug 14, 2019.

  1. Marvan

    Marvan Active Member

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    Aegon N.V. provides insurance, pensions, and asset management services worldwide.

    It offers life, accident, and health insurance; property and casualty insurance; home and car insurance; individual investment accounts; annuities; retirement plan services; stable value solutions; retail and institutional investment management solutions; savings products; group pensions; mortgage loans; and bank accounts.

    The company markets its products through brokers, independent agents, employee benefit consultants, bancassurance channels, self-service/online centers, and call/advice centers.

    Aegon N.V. was founded in 1983 and is headquartered in The Hague, the Netherlands.

    http://www.aegon.com
     
  2. Marvan

    Marvan Active Member

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  3. Marvan

    Marvan Active Member

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    Aegon reports first half 2019 results

    Net income increases to EUR 618 million reflecting realized gains and lower other charges">Net income increases to EUR 618 million reflecting realized gains and lower other charges

    ● Underlying earnings decrease by 5% to EUR 1,010 million, reflecting lower fee income as a result of lower average asset balances in the US, and investments in the business to support growth

    ● Fair value losses of EUR 394 million, driven by a strengthening of insurance provisions in the Netherlands as a result of adverse credit spread movements

    ● Realized gains on investments of EUR 275 million, driven by the sale of bonds to optimize the investment portfolio in the Netherlands

    ● Other charges of EUR 93 million include EUR 64 million model & assumption changes, mainly in the US

    ● Return on equity declines to 9.6% due to lower net underlying earnings

    Net outflows of EUR 2.7 billion despite higher gross deposits">Net outflows of EUR 2.7 billion despite higher gross deposits

    ● Net outflows of EUR 2.7 billion driven by contract discontinuances in US Retirement Plans as well as outflows in the US annuities businesses and on the UK institutional platform. These are partly offset by net inflows in Asset Management and the Netherlands

    ● New life sales decline by 4% to EUR 405 million

    ● Accident & health insurance sales down by 45% to EUR 117 million, as a result of the previously announced exit of certain product lines and lower voluntary benefits sales in the United States

    ● Property & casualty new premium production up by 7% to EUR 65 million

    Increased interim dividend supported by strong capital position and normalized capital generation">Increased interim dividend supported by strong capital position and normalized capital generation

    ● Interim 2019 dividend increases by 7% to EUR 0.15 per share

    ● Solvency II ratio of 197% at the top of the target zone; ratio decreases due to adverse market impacts

    ● Normalized capital generation after holding expenses of EUR 714 million. Capital generation of EUR (788) million, including adverse market impacts of EUR 1.4 billion and one-time items of EUR (114) million

    ● Market impacts are driven by adverse credit spread movements in the Netherlands, notably mortgage spreads, which increased to levels significantly above the long term average

    ● Holding excess cash increases to EUR 1.6 billion, reflecting EUR 765 million gross remittances from subsidiaries. Aegon the Netherlands retained its planned remittance over the first half of the year

    ● Gross financial leverage ratio amounts to 29.3% and remains in the 26 to 30% target range


    https://finance.yahoo.com/news/aegon-reports-first-half-2019-053000769.html
     
  4. Marvan

    Marvan Active Member

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  5. Marvan

    Marvan Active Member

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    Aegon will bring together its activities in Southern and Eastern Europe and Asia under Aegon International. The company also intends to appoint Maarten Edixhoven to its Management Board.">Aegon will bring together its activities in Southern and Eastern Europe and Asia under Aegon International. The company also intends to appoint Maarten Edixhoven to its Management Board.

    Manage for Value, Drive for Growth and Scale up for the Future. The vast majority of Aegon’s investments are being directed to Drive for Growth businesses, which are at the core of the strategy as they drive future capital generation. Scale up for the Future businesses are aiming at capturing meaningful new opportunities. ">At the beginning of 2019, Aegon introduced three distinct strategic categories to group its businesses: Manage for Value, Drive for Growth and Scale up for the Future. The vast majority of Aegon’s investments are being directed to Drive for Growth businesses, which are at the core of the strategy as they drive future capital generation. Scale up for the Future businesses are aiming at capturing meaningful new opportunities.

    All units within the Asian and Southern and Eastern European regions are positioned in the Drive for Growth and Scale up for the Future categories. A natural next step is a change in the way the group is organized.">All units within the Asian and Southern and Eastern European regions are positioned in the Drive for Growth and Scale up for the Future categories. A natural next step is a change in the way the group is organized.

    Aegon International will be established on January 1, 2020. The objective of the new division is to accelerate growth and further leverage cross-border synergies by developing new business models and realizing operational efficiencies. Aegon International will consolidate the management of the activities in Southern and Eastern Europe and Asia and will be led by Marco Keim who is currently heading Aegon’s activities in Continental Europe.

    As part of these changes, Maarten Edixhoven, CEO of Aegon the Netherlands will report directly to Aegon CEO Alex Wynaendts and will be appointed to the Management Board, subject to regulatory approval.

    The role of CEO of Aegon Asia will cease to exist. Andrew Byrne, the current CEO of Aegon Asia, will leave the company as per January 1, 2020.

    https://finance.yahoo.com/news/aegon-establishes-international-division-intends-060000822.html
     
  6. Marvan

    Marvan Active Member

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    Aegon announces that Thomas Wellauer will be nominated for appointment to the Supervisory Board for a four-year term. Robert W. Dineen has decided to step down as member of the Supervisory Board in light of his appointment as Non‑Executive Chairman of First Eagle, a U.S. investment manager.

    Mr. Wellauer (1955) has been selected because of his international experience in the insurance industry, most recently as Chief Operating Officer of Swiss Re, a global reinsurance company.

    The proposal for appointment of Mr. Wellauer has been approved by the Dutch Central Bank (DNB), and will be submitted for approval at the next AGM on May 15, 2020.

    https://finance.yahoo.com/news/thomas-wellauer-join-aegon-supervisory-060000559.html
     
  7. Marvan

    Marvan Active Member

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    Aegon (AEG)
    [​IMG]
    Dividend Yield: 8.3%">Dividend Yield: 8.3%

    Payout Ratio: 50%">Payout Ratio: 50%

    P/E Ratio: 14.1">P/E Ratio: 14.1

    Aegon (NYSE:AEG) is a Dutch insurance company, pension manager and asset management firm. AEG stock pays a very healthy dividend of 8.3%. But its dividend is just 50% of its earnings.


    Investors can wait for the stock to recognize this incredible value. In the meantime they receive a high 8.9% dividend yield. Annualized growth over the last three years is 6.8%.

    https://finance.yahoo.com/news/5-excellent-high-yield-dividend-155750258.html
     
  8. Marvan

    Marvan Active Member

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    Aegon has successfully priced USD 925 million Tier 2 subordinated notes with a fixed coupon of 5.1%. Net proceeds from this issuance will be used for general corporate purposes.

    The first call date is on December 22, 2024, and the maturity date is on December 22, 2049.

    The notes are expected to be rated BBB and Baa1 by S&P Global and Moody's, respectively, and have been structured to be Tier 2 compliant under Solvency II.

    The notes are being issued by Aegon Funding Company LLC (AFC) and will be guaranteed on a subordinated basis by Aegon N.V.

    The first call date is on December 22, 2024, and the maturity date is on December 22, 2049.

    The notes are expected to be rated BBB and Baa1 by S&P Global and Moody's, respectively, and have been structured to be Tier 2 compliant under Solvency II.

    The notes are being issued under AFC's US Registration Statement, and an application will be made to list the notes on the New York Stock Exchange.

    The issuance is expected to settle on October 22, 2019, with the notes being admitted to trading on the New York Stock Exchange following settlement.

    Following settlement, a copy of the applicable Prospectus Supplement will be made available on aegon.com.

    https://finance.yahoo.com/news/aegon-prices-usd-925-million-060000034.html
     
  9. Marvan

    Marvan Active Member

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    THE HAGUE, Netherlands--(BUSINESS WIRE)--

    Aegon has completed the share buyback program announced on September 18, 2019, aimed at neutralizing the dilutive effect of the 2019 interim dividend paid in shares.

    The repurchased shares will be held as treasury shares and will be used to cover future stock dividends. Between October 1, 2019 and November 8, 2019 common shares for an amount of EUR 168 million were repurchased. A total of 43,149,667 common shares were repurchased at an average price of EUR 3.89 per share.

    For further details visit our share buyback updates page at aegon.com.

    About Aegon

    Aegon’s roots go back 175 years – to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in more than 20 countries in the Americas, Europe and Asia. Today, Aegon is one of the world’s leading financial services organizations, providing life insurance, pensions and asset management. Aegon’s purpose is to help people achieve a lifetime of financial security. More information on aegon.com.

    https://finance.yahoo.com/news/aegon-completes-share-buyback-program-193000285.html
     
  10. Marvan

    Marvan Active Member

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    Aegon reports second half 2019 results

    Net income increases to EUR 910 million, reflecting better result on fair value items and lower Other charges

    • Underlying earnings before tax decrease by 5% to EUR 963 million due to impacts from lower interest rates in the Americas, and a change in the recognition of interest expenses related to debt refinancing. Earnings growth in other regions is from favorable claims experience and business growth
    • Fair value gains of EUR 168 million, driven by positive real estate revaluations in the Netherlands and the US
    • Realized gains on investments of EUR 131 million, mostly in the US
    • Other charges of EUR 188 million relate mainly to model and assumption changes, restructuring charges, and IFRS 9 / 17 project costs
    • Net income of EUR 910 million leads to improvement of the gross financial leverage ratio to 28.5%
    • Return on equity of 9.5% in the second half of 2019
    Elevated net outflows due to US Retirement Plans; insurance sales growth in key focus areas
    • Gross deposits increased by 38% to EUR 80 billion, mainly driven by Aegon Asset Management
    • Net outflows of EUR 22.5 billion, as a result of contract discontinuances in US Retirement Plans and outflows in the US annuity businesses, partly offset by continued external third-party net inflows in Asset Management
    • New life sales increase by 15% to EUR 456 million following business growth in Asia, and higher pension sales in the Netherlands
    • Accident & Health insurance sales are up by 19% to EUR 113 million, mainly driven by a large disability contract win in the Americas
    • Property & casualty new premium production up by 6% to EUR 64 million, driven by business growth in Spain

    • Increased dividend based on strong capital position and normalized capital generation
    • Proposed final 2019 dividend per share of EUR 0.16; full-year dividend increases by 7% compared to 2018
    • Solvency II ratio above the target zone at 201%. The 4%-points increase in the second half of 2019 is mainly from management actions, including longevity reinsurance in the Netherlands, which are partly offset by adverse impacts of assumption changes. The Solvency II ratio of Aegon the Netherlands increased to 171%
    • Capital generation of EUR 1,183 million, including favorable one-time items of EUR 304 million and positive market impacts of EUR 24 million. Normalized capital generation after holding expenses of EUR 855 million
    • Holding excess cash at EUR 1.2 billion
    https://uk.finance.yahoo.com/news/aegon-reports-second-half-2019-063000387.html
     
  11. Marvan

    Marvan Active Member

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    Aegon provides update on capital position

    Today, Aegon N.V. is participating in the annual Morgan Stanley Financial Services Conference, which for the first time, is being held virtually. Aegon’s Group Chief Financial Officer, Matt Rider, will discuss the company’s 2019 results, and provide an update on its capital position in light of the impact of the Coronavirus (COVID-19) outbreak and recent volatility in financial markets.

    Aegon remains well capitalized in the upper half of the Solvency II ratio target range. The Group’s Solvency II ratio is estimated at 190% at the end of the first quarter of 2020, based on market data from March 12, 2020 and after allowing for payment of the proposed final dividend. No material adverse impacts on claims ratios have been observed from COVID-19 at this point, nor have we observed any material credit rating migration.

    The capital ratios of Aegon’s businesses in the United States, the Netherlands and the United Kingdom are all estimated to be well above the bottom-end of their respective target zones. This is expected to allow for the planned level of remittances to the Group, absent a further significant deterioration of the current status of COVID-19 and ensuing effects on the financial markets.

    Aegon is continuously monitoring the market and the economic turbulence that has arisen as a consequence of the COVID-19 outbreak, and its impact on the company. It remains too early to quantify the potential impact on Aegon’s financial performance. The effect on Aegon’s financial results will depend on a range of factors, including the financial markets and underwriting results. At this point, we remain focused on supporting our customers, colleagues and business partners while maintaining our financial and operational resilience.

    https://finance.yahoo.com/news/aegon-provides-capital-position-070000037.html
     
  12. Marvan

    Marvan Active Member

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    BUZZ-European Insurers: Fall after EU urges freeze on divs, buybacks

    ** European insurance stocks slide after the European Union calls for a temporary freeze in dividends and share buybacks amid the coronavirus pandemic

    ** Shares in NN Group, Axa, Aviva, Prudential, Aegon, ASR Nederland and CNP Assurances fall between 4% and 10%

    ** NN Groep and Aegon lead the STOXX 600 index lower

    ** While JP Morgan expects all insurers to follow this guidance, it says the companies should in time be able to return to distributing profits as they see fit

    ** It also says that German regulator BaFin's statement that a payout ban for insurers is not necessary "implies that Allianz, Munich Re and others retain the flexibility on dividend payments if they feel their balance sheet remains strong"

    ** German sector stocks outperform European peers, with Allianz down 1.5%, Talanx down 1.7% and Hannover Re 0.1% higher

    ** KBW says it is critically important for companies to define what "temporarily suspend" means

    ** "Constructive guidance that emphasises delay rather than cancellation means that the time value of the impact should be small and probably offset by the social responsibility," it says

    https://uk.finance.yahoo.com/news/buzz-european-insurers-fall-eu-081858580.html
     

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