Aegon rises as H1 strength driven Netherlands margin, Asia growth, cost savings

By On August 16, 2018

Aegon rises as H1 strength driven Netherlands margin, Asia growth, cost savings

Aegon (NYSE:AEG) rises 2.7% premarket after reporting H1 results and an agreement to sell two eastern European businesses and.

H1 underlying earnings rose by 2% to EUR1.06B; on a constant-currency basis, underlying earnings increased 10%, driven by expense savings, higher investment margin in the Netherlands, performance fees, and growth in Asia.

Return on equity 9.2% rose 120 basis points from a year ago, helped by higher underlying earnings and a lower corporate tax rate in the U.S.

Net deposits improved to EUR3.89B vs. outflow of EUR3.71B a year ago; strong asset management inflows and increased net inflows in the U.K., as a result of improved retention, more than offset net outflows in the Americas driven by retirement plan outflows.

Source: Press Release

Previously: Aegon to sell units in Czech Republic, Slovakia for EUR155M (Aug. 16)

Previously: AEGON reports 1H results (Aug. 16)

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Source: Google News Netherlands | Netizen 24 Netherlands

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