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Sep 30, 2023
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Aegon Q3 2023 Earnings Report
Aegon reported steady Q3 2023 results with strong operating capital generation, though impacted by negative market movements.
Key Takeaways
In Q3 2023, Aegon delivered €272 million in operating capital generation after holding expenses. Net income reached €240 million, supported by a resilient Protection portfolio and disciplined expense management. However, capital generation was negatively impacted by market movements and model changes. Free cash flow amounted to €155 million.
Net income was €240 million with EPS of €0.13.
Operating capital generation remained strong at €272 million.
Market movements and model updates had a negative impact on capital generation.
Free cash flow totaled €155 million during 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 expects continued capital discipline while navigating market volatility and further simplifying its portfolio.
Positive Outlook
- Strong underlying earnings from Protection products.
- Disciplined expense management across regions.
- Stable solvency ratios in both the US and UK.
- Healthy cash generation supported dividend capacity.
- Progress on strategic portfolio reshaping.
Challenges Ahead
- Adverse market movements reduced capital generation.
- Model refinements added pressure to results.
- Lower remittances from some international operations.
- Currency volatility impacted reported earnings.
- Challenging macroeconomic environment continues.