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Aegon H1 Net Profit Rises - Quick Facts

Aegon (AGN.L,AEG) said its first-half net income increased year-on-year reflecting realized gains and lower other charges, partly offset by a higher loss on fair value items. Underlying earnings were down by 5%, reflecting lower fee income as a result of lower average asset balances in the US, and investments in the business to support growth.

For the first-half, profit to owners of Aegon increased to 618 million euros from 491 million euros, a year ago. The loss from fair value items were 394 million euros, driven by a strengthening of insurance provisions in the Netherlands as a result of adverse credit spread movements. Underlying earnings before tax was 1.01 billion euros compared to 1.06 billion euros, last year. Excluding favorable currency movements, underlying earnings before tax decreased by 9%.

First-half realized gains on investments totaled 275 million euros, reflecting 224 million euros gains on the sale of bonds to optimize the investment portfolio in the Netherlands.

The 2019 interim dividend amounts to 0.15 euros per common share.

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