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Aegon Q1 Attributable Net Result Edges Up; Says Confident Of Targets

Dutch life insurer Aegon NV (AGN.L,AEG) reported Thursday that its first-quarter net result attributable to owners of the company was 385 million euros, slightly higher than last year's 383 million euros.

The latest results reflected a 372 million euros book gain from the sale of Aegon's businesses in Hungary and a non-economic loss on interest rate hedges.

The result before tax amounted to 394 million euros, down 18 percent from prior year's 482 million euros.

Operating result after tax grew 4 percent to 372 million euros from 357 million euros last year.

Operating result increased 7 percent to 463 million euros, supported by an improvement in claims experience in the US, the positive contribution from growth initiatives, and increased fees from higher equity markets compared with the first quarter of 2021.

Lard Friese, CEO, said, "Looking ahead, I am confident that the progress we are making on the execution of our strategy and the implementation of our operational improvement plan, as well as the actions we are taking to strengthen our balance sheet keep us on track for delivering on our strategic and financial objectives."

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