Supply
|
Q1 2022 internet consequence
|
Q1 2021 internet consequence
|
Q1 2022 working consequence
|
Q1 2021 working consequence
|
Americas
|
€(176 million)
|
€122 million
|
€166 million
|
€161 million
|
The Netherlands
|
€156 million
|
€228 million
|
€187 million
|
€184 million
|
United Kingdom
|
€78 million
|
€(11 million)
|
€51 million
|
€39 million
|
Worldwide
|
€408 million
|
€37 million
|
€47 million
|
€30 million
|
Asset administration
|
€41 million
|
€52 million
|
€68 million
|
€75 million
|
Holding and different actions
|
€(94 million)
|
€(41 million)
|
€(55 million)
|
€(59 million)
|
Group
|
€412 million
|
€386 million
|
€463 million
|
€431 million
|
In accordance with the insurer, its €412 million internet consequence within the interval is partly attributed to the €372 million guide acquire from the sale of the group’s companies in Hungary. Extra on that transaction right here.
As for Aegon’s larger working consequence, the corporate provided this rationalization: “Working consequence will increase by 7% in contrast with the first quarter of 2021 to €463 million, because of an enchancment in claims expertise in the US, the optimistic contribution from development initiatives, elevated charges from larger fairness markets in contrast with the first quarter of final yr, and beneficial impacts from forex actions. These greater than offset the impacts of elevated profit prices and outflows in variable annuities within the Americas and better bills.”
The group’s Solvency II ratio, in the meantime, stood at 210%.
“The first three months of 2022 have been unprecedented in some ways,” commented Friese. “The Russian invasion in Ukraine has had a devastating influence on the lives of many individuals and fuelled inflationary pressures and volatility on the worldwide monetary markets at a time that many economies had been opening up after enjoyable COVID-19 measures.
“I’m happy with our colleagues who continued to successfully help and repair our prospects in a turbulent atmosphere as evidenced by our results, and the substantial progress we made on our 2023 strategic and monetary goals.”
A part of Aegon’s technique was to develop a “rigorous and granular” working plan throughout the organisation, with the objective of re-allocating capital to development alternatives. On the identical time, Aegon is enhancing its threat profile and decreasing capital ratios volatility.
The CEO famous: “We continued sharpening our strategic focus and growing our monetary flexibility with the completion of the divestments of our companies in Hungary and Turkey to Vienna Insurance coverage Group, and the sale of a part of our European enterprise fund.
“The closing of the sale of our Hungarian companies resulted in a rise in money capital on the Holding to €1.8 billion. This enabled us to announce a €300 million share buyback programme and an extra discount of our debt, thereby reaching our deleveraging goal vary 1.5 years early.”
Aegon’s operational enchancment plan consists of over 1,200 detailed initiatives designed to enhance working efficiency by decreasing prices, increasing margins, and rising profitably. Of those initiatives, greater than 900 have already been executed.