Company: AEGOF
Filing Date: 2025-05-16
Form Type: 6-K
Source: 0001193125-25-121236
Chunk: 36

Company: AEGON LTD.
Filing Date: 2025-05-16
Form: 6-K
Chunk 36
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 ) |
|                         |     | Total undiversified components           |     |  3,255 |   |     |  3,177 |   |
|                         |     | Diversification                          |     | (1,418 | ) |     | (1,377 | ) |
|                         |     | PICM SCR after diversification (AC only) |     |  1,837 |   |     |  1,800 |   |
|                         |     | Capital requirements for D&A and OFS     |     |  3,770 |   |     |  3,590 |   |
|                         |     | Capital requirement for a.s.r. stake     |     |  1,860 |   |     |  1,975 |   |
|                         |     | Group SCR                                |     |  7,466 |   |     |  7,366 |   |

Aegon’s risk profile did not materially change during 2024. C.1 Material risks that the insurance group is exposed to, including how these risks are measured and any material changes that have occurred during the reporting period C.1.1 Market risk Market risk description As an insurance group, Aegon is exposed to a variety of risks. Aegon’s largest exposures are to changes in financial markets (e.g. bond market, equity market, interest rate, currency exchange rate risks and credit risks). When market prices fall, the value of Aegon’s investments is reduced. For certain products, Aegon’s insurance liabilities may also increase, as investments held for the benefit of policyholders reduce in value. In addition, the value of future fee income potential reduces. The cost of insurance liabilities is also determined with reference to interest rates and the liabilities associated with long term benefits (such as annuities) increase and decrease as interest rates fall and rise. Credit risk Internally Aegon considers credit risk to be included within market risk. Credit risk has three components, namely:

| • |     | Spread risk; the risk that the value of the bond reduces due to a general widening of credit spreads; |

| • |     | Migration risk; the risk that the rating of the bond falls due to an increased risk of default and as a consequence its value falls; and |

| • |     | Default risk; the risk that the counterparty fails to meet the agreed obligations. |

For general account products, Aegon typically bears