- Operating capital generation (OCG) before holding funding and operating expenses increases 4% to EUR 267 million. Reflects business growth partially offset by unfavorable mortality experience in the US
- Capital ratios of Aegon’s main units remain above their respective operating levels
- Cash Capital at Holding at EUR 1.6 billion, reflecting 68% completion of the ongoing EUR 150 million share buyback program on March 31, 2025
- Planned new EUR 200 million share buyback program announced, expected to be completed by the end of 2025, consistent with the plan to bring Cash Capital at Holding down to around EUR 1.0 billion by the end of 2026
- Strong commercial momentum in US Strategic Assets Individual Life and World Financial Group (WFG), UK Workplace platform and International. Net outflows in US mid-sized retirement plans and UK Adviser platform. Asset management third party net flows remain positive
- Aegon group solvency ratio under Bermuda framework – applicable as of January 2028 after the end of the transition period – expected to be broadly similar to group solvency ratio under current methodology. Eligibility review of Aegon's instruments by the Bermuda Monetary Authority concluded
Lard Friese, Aegon CEO, commented:
“In the first quarter of 2025, we continued to make progress in transforming our businesses. In the US, we further strengthened our distribution capabilities and increased Transamerica's individual new life sales. Our UK Workplace business once again generated strong net inflows, while our International joint ventures reported higher sales. Asset management third party net flows remained positive.
While the macroeconomic environment is uncertain, we expect to meet our 2025 financial targets. Our businesses remain well capitalized, and we have significant excess liquidity at the Holding. Consistent with our plan to reduce Cash Capital at Holding to around EUR 1.0 billion by the end of 2026, we are today announcing a new EUR 200 million share buyback to be executed throughout the second half of 2025.”