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Mar 31, 2024
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Aegon Q1 2024 Earnings Report
Aegon started 2024 with resilient Q1 results, supported by strong capital generation and operational efficiency across core markets.
Key Takeaways
In Q1 2024, Aegon reported €175 million in operating capital generation after holding expenses. Net income was €241 million and EPS stood at €0.15. Free cash flow reached €428 million, and gross remittances totaled €66 million. Solvency ratios remained solid in both the US and UK businesses.
EPS was €0.15 with net income of €241 million.
Operating capital generation after holding costs was €175 million.
Free cash flow reached €428 million, showing strong liquidity.
Gross remittances amounted to €66 million in the quarter.
Aegon
Aegon
Aegon Revenue by Geographic Location
Revenue by Geographic Location
Americas Revenue
CapyFin.comUnited Kingdom Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Aegon plans to continue disciplined capital deployment while navigating market uncertainty, with a focus on core strategic segments.
Positive Outlook
- Strong performance in Protection Solutions.
- Robust free cash flow generation in Q1.
- Solid solvency ratios in both the US and UK.
- Operational efficiency improvements across segments.
- Positive contributions from fee-based businesses.
Challenges Ahead
- Currency headwinds from EUR/USD volatility.
- Ongoing market sensitivity affecting results.
- Pressure from higher new business strain.
- Limited growth in net inflows across some segments.
- One-time items had limited positive effect this quarter.