Aegon NV (AEG), a Dutch life insurance, pensions, and asset management firm, on Friday posted a rise in Assets Under Management, or AUM, for the first quarter.
For the first quarter, AUM stood at 324.621 billion euros, higher than 314.047 billion euros recorded for the same period last year.
The company noted that, on a pro-forma basis, taking into account the upcoming end of the eligibility for the Perpetual Cumulative Subordinated Bonds, or PCSB, Aegon's solvency ratio would have been 6% points lower compared with the group solvency ratio of 188% as of December 31, 2024.
The PCSB, currently also treated as restricted tier 1, will lose eligibility as of January 1, 2026.
Net deposits stood at 767 million euros as against 2.732 billion euros in the previous year.
The company has also announced a new program to repurchase 200 million euros of shares, expected to be completed by the end of 2025. Aegon added that this repurchase is consistent with the plan to bring cash capital at holding down to around 1 billion euros by the end of 2026.
Looking ahead, Lard Friese, CEO of Aegon, said: "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."
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