Company: AEGOF
Filing Date: 2025-05-16
Form Type: 6-K
Source: 0001193125-25-121236
Chunk: 22

Company: AEGON LTD.
Filing Date: 2025-05-16
Form: 6-K
Chunk 22
---
 risk framework embedding, risk culture, and compliance. Change risk management The ERM framework including the operational risk universe, applies to all change initiatives and special projects across Aegon. For/example, when Aegon redomiciled its legal seat to Bermuda, the risk function provided oversight and prepared independent risk opinions for the Board with further monitoring of open items.

| 20 |     | | Aegon Financial Condition Report 2024 |

| Governance structure  Risk management and Solvency self-assessment |

B.3.2 A description of how the risk management and Solvency self-assessment system are implemented and integrated into the insurance Group’s operations; including strategic planning and organizational and decision-making process Risk governance framework Aegon’s risk management framework is represented across all levels of the organization. This ensures a coherent and integrated approach to risk management throughout the Company. Similarly, Aegon has a comprehensive range of group-wide risk policies that detail specific operating guidelines and limits. These policies include legal, regulatory, and internally set requirements, and are designed to keep overall risk-specific exposures to a manageable level. Any breach of policy limits or warning levels triggers remedial action or heightened monitoring. Further risk policies may be developed at a local level to cover situations specific to particular business units. Aegon’s risk management governance structure has four layers:

| • |     | The Board of Directors (Board) and its Risk Committee; |

| • |     | The CEO and the Executive Committee; |

| • |     | The Group Risk & Capital Committee (GRCC) and its sub-committees; |

| • |     | The local Risk & Capital Committees. |

It is the responsibility of the CEO and the Group’s Chief Risk Officer (CRO) to inform the Board of any risk that directly threatens the solvency, liquidity, or operations of the company. The CEO has overall responsibility for risk management. The CEO adopts the risk strategy, risk governance, risk tolerance, and material changes in risk methodology and risk policies. The Group’s CRO has a standing invitation to attend the CEO meeting and has a direct reporting line to the Board to discuss ERM and related matters. The Executive Committee oversees a broad range of strategic and operational issues. While the CEO is Aegon’s statutory Executive Director, the Executive Committee provides vital support and expertise in safeguarding Aegon’s strategic goals. The Executive Committee discusses and sponsors ERM, in particular the risk strategy, risk governance, risk tolerance, and the introduction