Aegon : 2018 underlying earnings short of expectations, but dividend outlook still attractive
>Lower underlying earnings in the US - Aegon reported its 2018 results yesterday morning. Commercial activity saw a decline in H2 2018, with lower new life insurance sales in the US and net outflows of € 5.2bn in the retirement plans segment in the US. Underlying earnings fell by 3.1% in 2018 to € 2.073bn (vs our forecast of € 2.133bn and a consensus of € 2.155bn), and 8% in H2 2018 to € 1.01bn. These disappointing underlying earnings stem mainly from lower-than-expec...AEGON is a holding company. Through its subsidiaries, Co. provides life insurance and pensions operations in more than 20 countries in the Americas, Europe and Asia and is also active in savings and asset management operations, accident and health insurance, general insurance and to a limited extent banking operations. Co. operates through the following segments: the Americas (which includes the U.S.A., Mexico and Brazil); the Netherlands; the United Kingdom; Central & Eastern Europe; Spain and Portugal; Asia and Aegon Asset Management.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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