THE HAGUE (dpa-AFX) - Dutch life insurer Aegon NV (AGN.L, AEG) said Thursday that its net loss attributable to owners of the company for the second half of fiscal 2020 was 157 million euros, compared to net income of 908 million euros in the same period last year.
The net loss was mainly as a result of an increase of the value of liabilities in the Netherlands due to tightening credit spreads, reversing the movement seen in the first half of the year.
However, underlying earnings before tax for the period rose 7 percent to 1.03 billion euros from 961 million euros last year, driven by the benefit from higher equity markets in the U.S. and Asset Management, as well as expense savings.
Gross deposits for the second half increased by 19 percent to 94.76 billion euros, largely attributed to Asset Management. New life sales declined 23 percent from the year-ago period to 352 million euros.
Aegon has proposed a final dividend for 2020 of 0.06 euros per share, bringing the full-year dividend to 0.12 euros per common share, or 247million euros.
Copyright RTT News/dpa-AFX
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