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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.
Revenue by Geographic Location
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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