Company: AEGOF
Filing Date: 2025-02-20
Form Type: 6-K
Source: 0001193125-25-030100
Chunk: 12

Company: AEGON LTD.
Filing Date: 2025-02-20
Form: 6-K
Chunk 12
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 refinement and some smaller one-timeitems, including investments to improve the business. Group solvency ratio The estimated group solvency ratio decreased from 190% on June 30, 2024, to 188% on December 31, 2024. This reflected the proposed 2024 final dividend, the new EUR 150 million share buyback program, and a fungibility haircut on the own funds of the Chinese insurance joint venture, Aegon THTF Life Insurance Company. Total capital generation after holding funding and operating expenses amounted to EUR 590 million. This included market movements with a positive impact of EUR 147 million, mostly driven by the US. Furthermore, one-timeitems were unfavorable at EUR 67 million, and notably included the unfavorable impact of management actions in the US in the third quarter, while also reflecting positive impacts from the a.s.r. stake. Operating capital generation Operating capital generation for Aegon amounted to EUR 658 million before holding funding and operating expenses in the second half of 2024, compared with EUR 660 million in the prior year period. Both periods were impacted by overall favorable items that increased operating capital generation. Earnings on in-forceamounted to EUR 793 million, a decrease of 1% compared with the second half of 2023. This included an increase in Aegon AM, reflecting business growth and the impact from favorable markets, and a decrease in the US. 15

Release of required capital amounted to EUR 252 million, an increase of 18% compared with the prior year period. This reflected the impact of elevated required capital releases in the US, partially offset by lower release of required in International, mainly from China. New business strain amounted to EUR 388 million, an increase of EUR 37 million compared with the second half of last year. The increase in new business strain from the Americas as a consequence of continued business growth in Strategic Assets was partially offset by lower new business strain from International reflecting changes in product mix in TLB and a regulatory change in China. The operating capital generation for Aegon before holding funding and operating expenses in the second half of 2024 contained some favorable items. In the US, higher new business strain, unfavorable claims experience, and some other variances amounted to around EUR 10 million, while, in the UK, lower new business strain, underwriting, and other variances benefited operating capital generation by around EUR 30 million. In International, the operating capital generation benefited by around EUR 12