Aegon Turns To Profit In Q4; Sales Down
THE HAGUE (dpa-AFX) - Financial services company Aegon NV (AGN.
L, AEG) reported Friday that its fourth-quarter attributable net income was 470 million euros, compared to prior year's loss of 581 million euros.
Net underlying earnings were 471 million euros, compared to 381 million euros a year ago. Underlying earnings before tax were 554 million euros, compared to last year's 435 million euros. The results were driven driven by the Americas, strong expense management, improved claims experience and higher interest rates.
Sales for the quarter declined 6 percent to 2.73 billion euros from 2.89 billion euros a year ago. This was mainly the result of 5% lower gross deposits as a result of a decrease in asset management deposits from last year's exceptionally high level.
New life sales declined by 12%. Accident & health and general insurance sales went down 5% following product exits in US.
Further, the company said that at the Annual General Meeting of Shareholders on May 19, the Supervisory Board will propose a final dividend for 2016 of 0.13 euro per share. Aegon's total dividend over 2016 will amount to 0.26 euro per share.
Copyright RTT News/dpa-AFX
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