Aegon is moving in the right direction, but it's not enough.
Aegon reported net income of EUR 529 million for the second quarter of 2017. This was buoyed by a gain on divestment of EUR 149 million for the U.S. run-off businesses that released USD 700 million of capital. The main takeaway from today’s results is that the business has significantly improved its capital position. We will maintain our EUR 6.20 fair value estimate and no-moat rating.Balance sheet strength has been a concern for this business, and in particular its Dutch unit. However, Aegon N...
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