Company: AEGOF
Filing Date: 2025-08-21
Form Type: 6-K
Source: 0001193125-25-184596
Chunk: 7

Company: AEGON LTD.
Filing Date: 2025-08-21
Form: 6-K
Chunk 7
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         | (89 | ) |     |         | (91 | ) |     |   |    2 |   |
| Operating result             |     |       | 9 |     |         | 845 |   |     |         | 709 |   |     |   |   19 |   |

Operating result Aegon’s operating result increased 19% to EUR 845 million, mostly driven by the US, reflecting business growth in the Protection Solutions segment, partly offset by a lower operating result in the non-insurancebusiness segments. Results also improved in the UK and International, in part from business growth. 13

Americas The operating result from the Americas increased by 23% to EUR 627 million in the first half of 2025. In local currency, it increased by 25% to USD 685 million. The increase in the operating result was driven by business growth in Protection Solutions as well as from less unfavorable experience variances in both insurance business segments compared with the first half of 2024. This was partly offset by a decrease in the operating result of the non-insurancebusiness segments. The operating result of the Distribution business segment decreased by 13%, largely driven by lower revenues due to lower annuity sales in WFG and higher expenses reflecting investments in the WFG franchise. In the Savings & Investments business segment, the operating result decreased by 11% to USD 126 million. This was mainly driven by USD 14 million lower revenues in the Stable Value Solutions line of business as the size of the business has been reduced in recent years through management actions and participant withdrawals. The operating result of the Protection Solutions business segment increased by USD 89 million to USD 381 million. Portfolio growth resulted in a higher release of CSM. Taking into account an unfavorable impact of USD 16 million from onerous new business, the overall experience variance on claims, expenses, and other items was positive, compared with a negative experience in the prior year period. The operating result of the Financial Assets segment increased to USD 95 million mostly due to less unfavorable experience variances compared with the prior year period with all key products improving their contribution to the operating result. In the first half of 2025, Universal Life onerous contracts experience was USD 87 million unfavorable, of which USD 34 million resulted from the reinsured Universal Life portfolio of TLB. Interest accretion for onerous Variable Annuities contracts had an impact of USD 29 million in this half-year