Company: AEGOF
Filing Date: 2025-08-21
Form Type: 6-K
Source: 0001193125-25-184596
Chunk: 3

Company: AEGON LTD.
Filing Date: 2025-08-21
Form: 6-K
Chunk 3
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 end of 2024. In the first half of 2025, asset allocation optimizations, annual assumption updates, and business run-offresulted in lower capital employed for Financial Assets. During the first half of 2025, the variable annuity hedge program continued its strong track record of managing the financial market risks embedded in the guarantees. Net outflows in Variable Annuities were slightly lower than in the prior year period, as gross deposits increased while decrement rates were in line with previous quarters. Fixed Annuities net outflows decreased from lower withdrawals. The net face value of the legacy Universal Life portfolio decreased as a result of the run-offof the book and of Transamerica’s program to purchase institutionally owned policies. The total value of premium rate increases approved by state regulators for Long-Term Care increased to USD 708 million, achieving the target set at the beginning of 2023. Transamerica will continue to pursue further actuarially justified premium rate increases. Claims experience in Long-Term Care continues to track in line with assumptions. Financial Assets management action As of the middle of August 2025, Transamerica has expanded its dynamic hedge program for Variable Annuities to further reduce its equity market exposure. Previously, the program hedged market risks from policy riders. The expansion now includes first order equity market exposure of 25% of the Variable Annuities base contracts held by Transamerica Life Insurance Company, Transamerica’s largest insurance carrier. This reduces the economic equity market sensitivity of the portfolio and further solidifies the run-offof the Variable Annuities portfolio. Consequently, the IFRS net result and CSM equity sensitivities are reduced. In addition, downwards equity market sensitivities of the RBC ratio are reduced, while upwards equity market sensitivities increased due to a relatively higher impact from non-economicflooring of reserves. 5

Business update United Kingdom

| United Kingdom  |     | unaudited |
| Business update |     |           |

| GBP in millions             |     | Notes |     | 1H 2025 |         |   |     | 1H 2024 |         |   |     | % |      |   |
| Adviser Platform            |     |       |     |         |  (1,447 | ) |     |         |  (1,761 | ) |     |   |   18 |   |
| Workplace Platform          |     |       |     |         |   2,106 |