THE HAGUE (dpa-AFX) - Aegon NV (AGN.L), a Dutch multinational insurance company, on Thursday posted a decline in its operating result for third quarter of the current fiscal, amidst an adverse claims experience in the U.S.-with Covid-19 pandemic.
The Hague-headquartered firm posted an operating result of 443 million euros for the third quarter ended in September, compared with 526 million euros, reported for the same period, last year. Operating result after tax was also declined by 13 percent to 365 million euros, for the same three-month period.
The company's loss before tax moved down to 107 million euros for the three-month period ended on September 30, from 547 million euros, recorded for the same period of 2020. In addition, it posted a net loss of 60 million euros for the same period, compared with 418 million euros, reported for the September quarter of previous fiscal.
The operating result from the Americas decreased by $124 million or approximately 108.18 million euros, -compared with the third quarter of 2020-to $188 million or approximately 164 million euros, primarily due to adverse claims experience, with Covid-19 and a higher average claim size being the most important drivers.
The Group recorded 2.15 billion euros of net outflows in the third quarter of 2021, compared with 9.26 billion euros, reported for the quarter ended on September 30, 2020.
Copyright RTT News/dpa-AFX
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