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Dec 31, 2024
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Aegon Q4 2024 Earnings Report
Aegon closed the fourth quarter of 2024 with strong capital generation, although affected by negative market impacts and lower one-time gains.
Key Takeaways
In Q4 2024, Aegon generated €263 million in operating capital after holding expenses, with pre-holding operating income of €336 million. Total capital generation reached €429 million, supported by one-time items. Free cash flow remained positive at €80 million, driven mainly by the Americas segment.
EPS for the quarter was €0.20 with net income of €260 million.
Operating capital generation remained stable at €263 million.
Free cash flow reached €80 million in the quarter.
Market impacts and lower one-time gains limited upside.
Revenue by Geographic Location
Forward Guidance
The company expects sustained capital generation and financial discipline, though macroeconomic risks remain.
Positive Outlook
- Strong operational performance in Protection and Savings.
- Robust US and UK solvency ratios.
- Growth in assets under management in Asset Management.
- Healthy remittances from operating units.
- Continued cost discipline at the holding level.
Challenges Ahead
- Ongoing market volatility affects results.
- Lower contribution from one-time positive items.
- Net outflows persist in certain business lines.
- EUR appreciation impacts USD/GBP-based earnings.
- Margin pressure due to competitive environment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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