Insurer Aegon exceeds capital creation forecast with strong US momentum

Feb 19 (Reuters) - Aegon AEGN.AS, the owner of U.S. insurance brand Transamerica, said on Thursday it generated higher capital than the market had expected in the second half of 2025, mainly boosted by favourable conditions in the Americas division.

The insurer's operating capital generation before expenses rose 8% to 711 million euros ($838 million) in the six-month period, above the median estimate of 654 million euros from analysts polled by the company.

"In the US, commercial momentum remained strong. Transamerica expanded its distribution network, World Financial Group (WFG), to over 95,000 licensed agents, and ... achieved a record 30% increase in individual new life sales in 2025 compared with 2024," CEO Lard Friese said in a statement.

Aegon is pressing forward with the plans to relocate its head office and legal seat to the United States, as it aims to become a leading life insurance and retirement group in the country.

Group solvency ratio, which specifies the level of capital insurers are required to hold, stood at 184% at the end of the year.

The insurer also hiked its final dividend for last year by 11%, bringing the total payout to 40 euro cents per share. This, combined with the buyback concluded in the year, marks a total return of 1.1 billion euros to shareholders.

($1 = 0.8481 euros)