On Friday, Aegon was the biggest riser on the Amsterdam Stock Exchange's AEX index, following a well-received business update in which the Dutch insurer raised some of its targets.

This morning, the group reported third-quarter capital generation of 336 million euros, mainly on the strength of its US business.

With capital generation now reaching 900 million euros for the first nine months of the year, Aegon says it is on track to generate 1.2 billion euros in capital this year, against a previous target of around 1.1 billion.

Aegon's cash position stands at 1.5 billion euros.

'Despite some volatility in our sales performance, we are well on track to achieve the guidance we set out at our 2023 Investor Day,' said CEO Lard Friese.

For the record, Aegon had stated that it was aiming to generate operating capital of some 1.2 billion euros by 2025, with free cash flow of around 800 million euros by the same date.

According to these forecasts, its dividend per share should increase to 0.40 euros in 2025.

On the strength of this performance, the insurance group has decided to launch a share buyback program worth 150 million euros, starting in January 2025 and ending before the end of June next year.

In a press release, Aegon states that it plans to review its strategy and unveil new objectives at an investor day to be held on December 10, 2025.

The stock gained 1.2% following these announcements, after having gained up to 4% at the very start of the session.

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