Report
Benoit Valleaux

Aegon : Solvency margin impacted by changes to the model

>Underlying earnings in H2 were 3% shy of the consensus - Yesterday morning, Aegon published its 2019 results. Underlying earnings before tax in H2 2019 came to € 963m (-4.6%), impacted by lower interest rates and various one-off items. The figure is in line with our forecasts, but 3.3% lower than the consensus (€ 997m). Underlying earnings before tax were lower than expected in the US, coming to € 547m (-10.9%) with € 59m in non-recurring charges (including € 49m in...
Underlying
Aegon N.V.

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Benoit Valleaux

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