Aegon: capital generation forecast raised for 2023

(CercleFinance.com) - Shares in the Dutch insurer Aegon were up in early morning trading on Thursday (cp: +2.
3%), after the company raised its capital generation forecast.

In its trading update, the group said it now expected to generate capital of around E1.2bn by 2023, compared with over E1bn previously.

In Q3, operating capital generation climbed 16% to E354m.

CEO Lard Friese explained that the insurer - now headquartered in Bermuda - was benefiting from continued strong sales momentum in the US, in addition to favourable extraordinary items.

Aegon - which wants to ensure that its US subsidiary Transamerica reaches its "full potential" - emphasized that the branch's strategic assets continued to grow in Q3.


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