Aegon : Earnings and Solvency better, US interest rate hedging in progress
>Conclusion: earnings and solvency better, US hedging going on - The 2Q21 profits were better than expected. Further the Dutch and US Solvency were both better than expected, whereby especially the better Dutch solvency is important. The US interest rate hedging has good progress and is still going on whereby the US variable annuity GMIB hedging first requires a policyholder Buy out offering whereby the hedging can be done from 4Q21. We keep our Outperform recommendat...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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