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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…"

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