Company: AEGOF
Filing Date: 2025-02-20
Form Type: 6-K
Source: 0001193125-25-030100
Chunk: 5

Company: AEGON LTD.
Filing Date: 2025-02-20
Form: 6-K
Chunk 5
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’s Protection Solutions business segment includes insurance businesses covering Individual Life, Individual Health, Workplace Life, Workplace Health, and Indexed Annuities lines of business. The Indexed Annuities line of business includes registered index-linked annuities (RILA) and fixed indexed annuities (FIA). Transamerica is investing in its product manufacturing capabilities and operating model to position its Protection Solutions business for further growth in the US middle market, with distribution through both WFG and third parties. New life sales Transamerica targets around USD 750 million of annual new life sales in Individual Life by 2027. In the second half of 2024, Individual Life new life sales totaled USD 229 million, a decrease of 10% compared with the prior year period. This was mainly driven by lower indexed universal life sales through the WFG distribution channel. WFG represented 67% of total Individual Life sales in the second half of 2024, a decrease of 4%-points compared with the same period last year, as new life sales through other channels increased. Term life product sales decreased given continued competitive pressures, which was more than offset by an increase in whole life final expense sales. Workplace Life new life sales increased by 10% to USD 27 million in the second half of 2024 compared with the same period of 2023, due to higher sales staff productivity. New premium production Workplace Health New premium production for Workplace Health insurance amounted to USD 48 million in the second half of 2024, an increase of 7% compared with the same period of 2023, driven by higher voluntary benefits sales. 5

Net deposits Indexed Annuities Net deposits for Indexed Annuities products amounted to USD 968 million in the second half of 2024. Of that total, RILA products contributed net deposits of USD 995 million, compared with USD 329 million in the same period of 2023. The increase was driven by further enhancing the wholesale distribution capacity and improving sales productivity. Based on market data for the first nine months of 2024, this positions Transamerica as a top 10 player in terms of RILA sales in the US market. Update on Financial Assets Financial Assets are blocks of business that are capital intensive with relatively low returns on the capital employed. Transamerica is actively managing Variable Annuities with interest rate sensitive riders, Fixed Annuities including Single Premium Group Annuities (SPGAs), the legacy Universal Life book, and Long-Term Care