Company: AEGOF
Filing Date: 2025-02-20
Form Type: 6-K
Source: 0001193125-25-030100
Chunk: 21

Company: AEGON LTD.
Filing Date: 2025-02-20
Form: 6-K
Chunk 21
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 repricing and more favorable economics of the Indexed Universal Life product, which offset its lower sales volumes. Traditional Life products contributed to the increase of the new business value mainly from more favorable economics and slightly higher sales volumes. Growing sales volumes of the RILA product also added to the increase of IFRS new business value. The IFRS new business value of Financial Assets decreased by 5% to USD 18 million in the second half-year of 2024, compared with the second half-year of 2023, and was entirely driven by sales of a variable annuity product with limited guarantees, where the effect of higher sales volumes was offset by unfavorable rate and expense assumption updates. The MCVNB for Retirement Plans increased by USD 27 million to USD 72 million in the second half of 2024, compared with the prior year period. This was driven by higher sales volumes and a favorable change in business mix, which included a large pooled plan sale, a higher contribution from the General Account Stable Value investment options, and increased new business in IRA accounts. This was partly offset by expense assumption changes and unfavorable changes to modelled risk-free rates. United Kingdom In the UK, total new business value amounted to EUR 17 million in the second half of 2024, a decrease of EUR 1 million compared with the second half of 2023. IFRS new business value remained stable at EUR 9 million in the second half of 2024. New business generated during the period was driven by upgrades of traditional products to the digital platforms, which will reduce over time. The remainder of the new business generated on the platform businesses is not reported under IFRS 17. The MCVNB for the pension business of the UK that is accounted for under IFRS 9 decreased from EUR 9 million in the second half of 2023 to EUR 8 million in the second half of 2024. This decrease was mainly driven by the impact of an assumption update. International The new business value in International amounted to EUR 66 million, an increase of EUR 19 million compared with the second half of 2023. The IFRS new business value of International – which encompasses all the new business in TLB and the longer-term business in Spain & Portugal – amounted to EUR 5 million, an increase of EUR 7 million compared with the second half of 2023. This was driven by higher sales linked to consumer loans in Spain as well as higher sales and an improved product mix in TL