AMSTERDAM (Reuters) – Dutch insurer Aegon (NYSE:) NV reported on Thursday a lower than expected 16% fall in operating result for the third quarter, on higher mortality claims over the resurgent COVID-19 pandemic in its biggest market, the United States.
Aegon posted an operating result of 443 million euros ($512 million) for the three months ended Sept. 30. That compares with 526 million euros in the same period of 2020. Analysts in a company-compiled poll had expected a figure of 490 million euros.
“Performance improvements across most of our businesses … were offset by elevated mortality in the United States,” said CEO Lard Friese in a statement.
“We expect the impact from COVID-19 to abate over time.”
The death costs more than offset increased fee income and business growth, Friese said.
Aegon’s Solvency II ratio increased to 209%, up slightly from 208% at the end of July, with capital generation at 327 million euros.
($1=0.8648 euros)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment