Aegon: raises guidance for 2022

(CercleFinance.com) - On the publication of its quarterly results, Aegon said that it is raising its free cash flow forecast for 2022 to around 1.
4 billion euros, up from its previous estimate of around 1.2 billion euros.

The Dutch insurer also expects to achieve a cumulative free cash flow of at least 2.2 billion euros over 2021-2023, well above the target of 1.4 to 1.6 billion euros set at its 2020 CMD.

The company posted a net loss of 348 million euros in Q2, due to one-off charges and a loss on interest rate hedges in the US, while its operating profit fell by 11% (excluding currency effects) to 538 million euros.

Management said that expense savings, growth measures and favourable claims experience are more than offset by lower commissions, due to adverse market movements and lower investment income.


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