Aegon: says it is 'well capitalized' - shares jump

(CercleFinance.com) - Dutch insurer Aegon said on Thursday that it remains "well capitalized" to back its business, with solvency ratios in the upper half of its target range.


Based on market data from 12 March, the group's Solvency II ratio is estimated at 190% at the end of the first quarter of 2020, after allowing for payment of the proposed final dividend, it said.

The capital ratios of its businesses in the US, the Netherlands and the UK are all estimated to be well above the bottom-end of their respective target zones, it added, unless there is a further significant deterioration in the current status of the COVID-19 epidemic.

Aegon - which is participating in a Morgan Stanley conference webcast today - said it is still too early to quantify the potential impact of the current crisis on its financial performance.

Its shares were up over 8% this morning on Euronext Amsterdam, largely outperforming a 1.2% rise in the AEX index.

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