Company: AEGOF
Filing Date: 2025-05-16
Form Type: 6-K
Source: 0001193125-25-121236
Chunk: 62

Company: AEGON LTD.
Filing Date: 2025-05-16
Form: 6-K
Chunk 62
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3,485 |     |       74 |     | 115,245 |
| Percentage of total     |     |                        96.9% |     |                                    3.0% |     |     0.1% |     |    100% |

Non-EUand Non-UK(re)insurance legal entities on (provisional) equivalence Non-EUand Non-UK(re)insurance legal entities which are domiciled in third-countries that are deemed (provisional) equivalent (mainly US Life insurance companies) are included via the D&A method where capital requirements are based on local regulatory requirements. The section below focuses on the most material for US insurance companies and Aegon Group.

| 47 |     | | Aegon Financial Condition Report 2024 |

| Solvency valuation  A description of recoverables from reinsurance contracts |

In the United States, technical provisions are generally calculated based on locally prescribed formulas and also locally prescribed assumptions. However, there are several areas where the Company has the ability to set assumptions for statutory valuation based on its own experience, subject in all cases to certain limitations and/or approvals (including, for example, required margin for prudence over best estimate assumptions). The most material of these areas are Variable Annuities (reserving under Manual section 21 (VM-21),which has been updated in 2019), Universal Life (reserving under Actuarial Guideline 38), Long-Term Care, and individual life policies subject to Principle-Based Reserving (PBR) under Valuation Manual section 20 (VM-20)which includes Term issued since 2017 and index universal life issued since 2020. In the US, most insurance liabilities are also subject to an annual Asset Adequacy Analysis (usually performed via cash flow testing). This analysis assesses the adequacy (appropriateness) of the statutory reserves, using own best estimate actuarial assumptions, plus appropriate margins for prudence, and under specified interest rate scenarios. The outcome of the Asset Adequacy Analysis may lead to the requirement to hold additional reserves. The US updated mortality assumptions for universal life and term life products, where the book has been experiencing volatile and unfavorable claims experience. The new assumptions are more consistent with the past experience. Ongoing validation and review processes are in place to ensure that models being used remain appropriate and can be relied upon, including model validations, and process reviews carried out by the Internal Audit Function. Each