Aegon: Operating profit up 9% and headquarters on course for New York
Aegon published its first-half 2026 results on August 20, marked by growth in its operating profit and capital generation.
Beyond the figures, the period was dominated by the advancement of the headquarters relocation project to the United States, with the selection of New York and a scheduled extraordinary general meeting on October 8, 2026 to approve the relocation.
Operating profit of €804 million, capital generation up 27%
In the first half of 2026, Aegon's operating profit grew by 9% to reach €804 million. Operational capital generation increased by 27%, to €416 million, enabling a free cash flow of €392 million.
The group also conducted its annual review of assumptions, mainly to account for changes in policyholders' behavior observed in recent periods. Aegon indicates that its activities are well capitalized and states it is in a position to achieve or exceed its financial ambitions for 2026.
Transamerica and international operations drive commercial growth
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Commercial momentum was driven by Transamerica, whose individual life insurance sales grew by 54% year-on-year, supported by the instant decision market. The World Financial Group distribution network now has more than 100,000 agents.
Aegon Asset Management benefited from third-party net flows and a favorable market environment, while international operations continued their growth, driven by Brazil. The group maintained strong commercial momentum on retirement plan sales.
Dividend interim payment of 21 cents and headquarters relocation to the United States
Aegon announced a dividend interim payment of 21 cents per share, up 11% compared to the comparable period of the previous year. The group also increased its recently announced share buyback program by €150 million, bringing it to €350 million.
In parallel, Aegon has selected New York as the future location of its headquarters and announced the sale of its British subsidiary Aegon UK to Standard Life, an operation expected to be completed around the end of 2026. An agreement has been reached with Vereniging Aegon, its main shareholder, on its future relationship with the group and on a proposed governance framework aligned with the American regime.
An extraordinary general meeting is scheduled for October 8, 2026 to submit to shareholders for approval the relocation of domicile to the United States.
On track to meet or exceed all Group financial ambitions for 2026
Risks mentioned
Changes in general economic and/or governmental conditions, particularly in Bermuda, the United States, the United Kingdom and in relation to Aegon's shareholding in ASR Nederland N.V., and Aegon's asset management business, the Netherlands
Civil unrest, (geo-)political tensions, military action or other instability in countries or geographic regions that affect our operations or that affect global markets
Changes in the performance of financial markets, including emerging markets, such as the frequency and severity of defaults by issuers in Aegon's fixed income investment portfolios
Opportunities identified
Transamerica delivered strong commercial growth with Individual Life sales growing by 54%, fueled by growth in the instant decision market and World Financial Group now exceeding 100,000 agents
Aegon Asset Management benefited from third-party net flows and positive market developments with international businesses continuing to grow, led by Brazil
Operating capital generation grew by 27% to EUR 416 million in the first half of 2026, enabling strong free cash flow generation
Outlook / guidance
Management commentary: On track to meet or exceed all Group financial ambitions for 2026
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
