Welcome to our dedicated page for Aegon Ltd. news (Ticker: AEG), a resource for investors and traders seeking the latest updates and insights on Aegon Ltd. stock.
Aegon Ltd. (symbol: AEG) is a Dutch multinational company specializing in life insurance, pensions, and asset management. Headquartered in The Hague, Netherlands, Aegon operates globally with a significant presence in the United States, United Kingdom, Brazil, China, Portugal, and Spain. The company, listed on the Amsterdam Stock Exchange since the 1980s, has undergone substantial transformation, divesting non-core operations to improve its risk profile and focus on strategic and financial assets.
Aegon's core business revolves around providing life insurance, retirement solutions, and asset management services. With a robust portfolio of products aimed at long-term savings, Aegon has established a strong market presence. Recent achievements include a strategic partnership with Lakemore Partners Ltd., enhancing Aegon Asset Management's (Aegon AM) credit capabilities and expanding Lakemore's institutional client base globally. This partnership is set to grow Aegon's US CLO platform, providing attractive alternative fixed income products.
As of December 31, 2022, Aegon AM manages over $311 billion in assets, offering services to pension plans, public funds, insurance companies, banks, wealth managers, family offices, and foundations. The company's investment approach is grounded in fundamental, research-driven active management, underpinned by effective risk management.
Aegon's financial condition remains strong, with AM Best affirming the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) for its U.S. subsidiaries, Transamerica Life Insurance Company and Transamerica Financial Life Insurance Company. These ratings reflect Aegon's strong balance sheet, favorable business profile, and appropriate enterprise risk management.
The company is also actively involved in reducing capital-consumptive and volatile earnings products, recycling funds into capital-light, more predictable strategic businesses. This transformation aligns with Aegon's goal of creating a less capital-intensive and more resilient business model.
With a diverse product line, including traditional life, indexed universal life, variable annuities, mutual funds, retirement plans, and accident and health insurance, Aegon continues to drive growth and innovation in the insurance and asset management sectors. The recent sale of its Dutch operations to ASR Nederland N.V. and the conversion to a Bermuda Limited company further highlight Aegon's strategic focus on streamlining operations and enhancing financial stability.
For more information about Aegon and its services, visit www.aegon.com.
Aegon Bank has launched a new Covered Bond Program with a Soft Bullet structure aimed at enhancing flexibility in bond maturities and diversifying the debt investor base. This strategic initiative is anticipated to facilitate future bond issuances under the new program, thereby supporting the bank's operational capabilities. Aegon Bank operates as part of Aegon in the Netherlands, offering savings and investment products and holding an A credit rating from S&P Global.
Aegon Bank has released its 2020 annual report, detailing its strategy, governance, and financial performance. The report is available for download here.
Aegon Bank operates as part of Aegon the Netherlands, offering savings and investment products under the Aegon and Knab brands. Aegon Bank is a significant player in the Dutch residential mortgage market, holding a credit rating of A from S&P Global.
The Executive Board of Aegon proposes at the upcoming AGM the adoption of the Annual Accounts 2020 and a final dividend of EUR 0.06 per common share, totaling EUR 0.12 for 2020. Additionally, reappointments for key positions including CFO Matt Rider and new appointments to the Supervisory Board are suggested. The AGM will be exclusively online due to COVID-19 restrictions, allowing shareholders to vote electronically. This restructuring aims to bolster Aegon’s governance as it navigates the financial landscape.
Aegon announced the departure of Global Chief Technology Officer Mark Bloom, effective June 1, 2021. Bloom, who has been with the company since 2016, played a crucial role in enhancing customer experience through technology. His leadership contributed significantly to Aegon's global technology initiatives. Prior to Aegon, he held roles at Citi and JP Morgan Chase. Aegon's CEO, Lard Friese, expressed gratitude for Bloom's contributions and wished him well in his future endeavors. Aegon is a prominent financial services organization with a legacy of over 175 years.
Aegon announced the appointment of Elisabetta Caldera as Chief Human Resources Officer, effective June 1, 2021. With over 25 years of HR experience, she joins from Vodafone, where she served as HR Director Europe Cluster & Egypt. Caldera will lead Aegon's global HR function and be part of the Management Board. She succeeds Carla Mahieu, who stepped down after more than a decade. Aegon, a major financial services company with a focus on life insurance, pensions, and asset management, is dedicated to helping customers achieve financial security.
Aegon has confirmed that the planned acquisition of its Hungarian entities by Vienna Insurance Group (VIG) has been halted by a decree from Hungary's Ministry of the Interior. This development contradicts previous constructive discussions between VIG and the Hungarian Minister of Finance, which had taken place since January 2021. However, VIG remains optimistic about resolving the issue favorably in the near future. Aegon will continue collaborating with VIG to finalize the transaction.
Aegon announced the resignation of Chief HR Officer Carla Mahieu, effective June 1, 2021. Carla, who joined Aegon in 2010 and became a Management Board member in 2016, will transition to new roles on the Supervisory Boards of Arcadis and DSM, alongside her position at VodafoneZiggo. CEO Lard Friese acknowledged her significant contributions in establishing a strong HR function and emphasizing organizational strategy. Aegon is already in the process of identifying her successor, with further announcements to be made accordingly.
Aegon has announced that Will Fuller will succeed Mark Mullin as President and CEO of Transamerica effective March 31, 2021. Fuller, with nearly 30 years of experience in insurance and financial services, previously served as Executive Vice President at Lincoln Group. He is set to lead Transamerica through its next transformation stage. Mark Mullin, who has been CEO for 11 years, will transition to Chairman of the Transamerica Board. Lard Friese, CEO of Aegon Group, praised Fuller’s track record and commitment to diversity and inclusion as a significant asset for the company.
Aegon has successfully divested Stonebridge, a UK-based accident insurance product provider, to Global Premium Holdings for approximately GBP 60 million. This sale aligns with Aegon's strategy to simplify its business and focus on entities with higher growth potential. The deal includes a potential additional GBP 10 million contingent consideration but is not expected to materially impact Aegon's capital position or financial results.
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