Company: AEGOF
Filing Date: 2025-05-16
Form Type: 6-K
Source: 0001193125-25-121236
Chunk: 76

Company: AEGON LTD.
Filing Date: 2025-05-16
Form: 6-K
Chunk 76
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 undertakings. At year-end2024, the Group MCR amounted to EUR 730 million (2023: EUR 694 million) and is mainly driven by Aegon UK. Insurance laws and regulations in local regulatory jurisdictions often contain minimum regulatory capital requirements. Bermuda and the BMA, as group supervisor and local entity supervisor of Bermuda subsidiaries, defined a minimum solvency margin. For insurance companies in the European Union and the UK also, minimum capital requirement is defined, being the Minimum Capital Requirement. An irreparable breach of the minimum regulatory capital requirements would lead to a withdrawal of the Company’s insurance license. Similarly, for the US insurance entities the withdrawal of the insurance license is triggered by a breach of the 100% Authorized Control Level (ACL), which is set at 50% of the Company Action Level (CAL). Aegon views the higher capital requirement, 120% of the SCR for the Group or 100% of local entity Solvency requirement as the level around which supervisors will formally require management to provide regulatory recovery plans. During 2024, the Aegon Group and the regulated entities within the Aegon Group that are subject to regulatory capital requirements on a solo-level continued to comply with the solvency requirements. E.2.2 Identification of any non-complianceby the insurance Group with the MCR and the SCR During 2024 there were no instances in which the estimated Aegon Group Solvency ratio was below the MCR or the SCR. The regulated entities within the Aegon Group that are subject to regulatory capital requirements on a solo level also continued to comply with such requirements. E.2.3 A description of the amount and circumstances surrounding the insurance Group’s the non-complianceat the end of the reporting period Not applicable (see E.2.2 ). E.2.4 Where the non-compliancehas not been resolved, a description of the amount of the non-complianceat the end of the reporting period Not applicable ( see E.2.2 ). E.3 Approved internal capital model used to derive the SCR E.3.1 A description of the purpose and scope of the business and risk areas where the Group SCR model is used Aegon uses a Solvency PICM to calculate the solvency position of the Holding Company (Aegon Ltd.) and the UK Insurance Company (Scottish Equitable Ltd). For Aegon, a PICM is a better representation of the actual risk since this contains Aegon