Aegon Posts Wider Loss In Q3

Aegon N.V. (AGN.L,AEG), a Dutch multinational life insurance, pensions, and asset management firm, on Thursday posted an increased loss for the third quarter, amidst a fair value loss mainly driven by the U.S. interest rate hedges, and an one-time investments related to the operational improvement plan.

For the third-quarter, the Hague-headquartered firm posted a net loss of 206 million euros, compared to a 60 million euros loss reported for the same period a year ago.

Pre-tax loss was at 300 million euros, versus 107 million euros loss, reported for the third-quarter of 2021. Operating profit was at 429 million euros as against 443 million euros, posted for the previous year.

Fair value items rose to 506 million euros as against 130 million euros of previous year's quarter.

Lard Friese, CEO of Aegon, said: "In the third quarter, our operating result declined by 11% on a constant currency basis as adverse market conditions more than offset an improvement in claims experience in the United States, expense savings and the benefit from growth initiatives…"

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
A group of 23 U.S. states attorneys general have asked South Korean car manufacturers Hyundai Motor and Kia Corp. to take action more quickly to solve problems with millions of U.S. vehicles facing theft. The issue is related to the companies' failure to equip vehicles with anti-theft immobilizers, which has been a standard equipment on vehicles sold by other major manufacture El Monte, California-based Mutual Trading Co., Inc. is recalling certain Kagome Sauces citing undeclared soy, a known allergen, the U.S. Food and Drug Administration said. The recall involves 60 fl oz of Kagome Worcester Sauce, 10 fl oz of Kagome Chuno sauce, and 8g of Kagome Take out Tonkatsu Sauce. With a view to celebrate college basketball season, Domino's Pizza Inc. is offering customers 50% off all menu-priced pizzas ordered online today through March 26. The weeklong 50% off online deal is available on menu-priced pizzas ordered through Domino's online ordering channels.
Follow RTT