Company: AEGOF
Filing Date: 2025-05-16
Form Type: 6-K
Source: 0001193125-25-121236
Chunk: 69

Company: AEGON LTD.
Filing Date: 2025-05-16
Form: 6-K
Chunk 69
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 |     |   2024 |     |   2023 |
| Eligible Own Funds      |     | 14,030 |     | 14,250 |
| SCR                     |     |  7,466 |     |  7,366 |
| Solvency ratio          |     |   188% |     |   193% |

Aegon Group Eligible Own Funds amounted to EUR 14,030 million on December 31, 2024 (2023: EUR 14,250 million). The decrease of EUR 220 million is mainly driven by the negative impact from the decision to redeem the EUR 700 million fixed-to-floatingsubordinated notes, the negative impact from the share buy backs of EUR 200 million and EUR 150 million and the negative impact of the China fungibility haircut partly offset by positive impact from markets and the positive impact resulting from Aegon’s stake in a.s.r.. Per 4Q 2024 it has been decided to cap the ATHTF (China insurance joint venture) contribution to Group solvency at 100% of its core SCR ratio. This was driven by fungibility considerations in the context of the current low China interest rates. Aegon’s Group SCR amounted to EUR 7,466 million on December 31, 2024 (2023: EUR 7,366 million). The increase of EUR 100 million was mainly driven by new business and a positive impact from markets. As a result of the above changes in Eligible Own Funds and PICM SCR, the Group Solvency ratio decreased by 5%-points to 188% in 2024. Capital adequacy of Aegon’s operating units Aegon manages capital in its operating units at levels sufficient to absorb moderate shocks without impacting the remittances to the Group. These moderate shocks could be caused by various factors, including general economic conditions, financial markets risks, underwriting risks, changes in government regulations, and legal and arbitration proceedings. To mitigate the impact of such factors on the ability of operating units to pay remittances to the Group, Aegon established an operating level of capital in each of the units: 400% Risk-Based Capital (RBC) Company Action Level (CAL) in the US and 150% Solvency Capital Requirement (SCR) in the UK; based on UK Solvency II. Aegon manages capital in the units to their respective operating levels over-the-cycle. After