Aegon drops as US mortality rate weighs on Q1 results

Aegon

16/05/2025 08:30

** Shares in Dutch company Aegon AEGN.AS fall as much as 2.9% after it posted Q1 results that missed consensus and announced share buyback that J.P.Morgan said was below estimates

** KBC Securities points to the higher than expected U.S. mortality rate that combined with higher funding and holding costs resulted in weaker capital generation

** JPM says that the globally active insurer's trading update feels "a little messy" overall, but does not expect material changes to estimates given one-off items

** The new 200 mln euro ($224 mln) buyback comes on top of the already active 150 mln euro programme, but their combined value still lags JPM's forecast of 550 mln euros for 2025

** Shares of Aegon are down 1.3% at EUR 6.13 as of 0719 GMT

($1 = 0.8919 euros)

 (Reporting by Jakob Van Calster)

 ((Jakob.vancalster@thomsonreuters.com))