Aegon 4Q Net Profit Jumps 20%
February 19 2016 - 1:23AM
Dow Jones News
By Ian Walker
Dutch insurance firm Aegon NV (AGN.AE) reported Friday a 20%
rise in fourth-quarter net profit on a 38% jump in sales due to a
stronger U.S. dollar, higher asset-management deposits and
increased indexed universal life sales.
The multinational life-insurance, pensions and asset-management
company headquartered in The Hague, Netherlands, said it was well
on track to achieve targeted cost savings, particularly in the
U.S.
For the quarter ended Dec. 31, the company made a net profit of
478 million euros ($531.0 million), compared with EUR399 million,
on sales of EUR2.91 billion ($3.23 billion) and EUR2.12 billion,
respectively.
The company's solvency II ratio, a measure of financial
stability, stood at 160% on Dec. 31. The solvency ratio is a
measure of risk an insurer faces of claims it cannot absorb.
The company increased the final dividend to EUR0.13 (US$0.14) a
share, bringing the total payout to EUR0.25, a 9% increase over
2014.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
February 19, 2016 02:08 ET (07:08 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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