Aegon: share bubbling after Q4 results

(CercleFinance.com) - The share of Dutch insurer Aegon was bubbly in late morning trading on Thursday as it reported better-than-expected Q4 operating profit, up 4% to 488 million euros in Q4 2022, boosted by cost savings and fewer claims.


It said that it also benefited from the strength of the dollar, due to its high exposure to the US.

Profit therefore exceeded the consensus of 436 million euros.

An impairment loss related to the sale of its Dutch operations to a.s.r. nevertheless resulted in a net loss of 2.4 billion euros for the quarter and 2.5 billion euros for the full year, a huge chunk for it to swallow.

After all these announcements, the share was up 5% at noon, steaming ahead of the AEX index (about +1.5%).


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