Corrections & Amplifications
This headline was corrected at 0645 GMT to mirror Aegon 4Q Net Loss EUR2.36B, not EUR-2.362B
Aegon NV on Thursday reported a swing to a wider-than-expected internet loss for its fourth quarter of 2022 and outlined a 200 million-euro ($214.2 million) share buyback because it supplied outlook for 2023.
The Dutch insurance coverage and asset-management firm
AEG,
AGN,
posted a internet lack of 2.36 billion euros ($2.85 billion) for the three months to Dec. 31 in contrast with a internet revenue of EUR526 million a 12 months earlier. An organization-compiled consensus from 14 analysts’ estimates had on common anticipated a internet lack of EUR1.30 billion.
The drop is partly resulting from impairment loss from classifying Aegon’s Dutch enterprise as held on the market after its transaction with ASR Nederland NV.
The firm’s working end result stood at EUR488 million in contrast with consensus of EUR434 million.
Its Solvency II ratio–a measure of balance-sheet power–stood at 208%, in contrast with expectations of 206%.
The Dutch group declared a closing dividend of EUR0.12 a share, bringing the full-year payout to EUR0.23.
It outlined a brand new EUR200 million share buyback which it’s going to execute within the second half of 2023, it stated.
For the total 12 months, Aegon stated it expects to ship no less than EUR1.0 billion working capital technology from its models exterior the Netherlands and to generate round EUR600 million free money circulation.
Write to Elena Vardon at elena.vardon@wsj.com
Source web site: www.marketwatch.com