The Hague, October 14, 2022 – Aegon introduced in the present day that it has efficiently accomplished the divestment of its 50% stake in the Spanish insurance joint venture with Liberbank to Unicaja Banco. As introduced on May 23, 2022, the sale follows the change of management in Liberbank after its merger with Unicaja Banco in 2021. Aegon Spain intends to upstream the web proceeds of the transaction to Aegon Group.
About Aegon
Aegon is an built-in, diversified, worldwide monetary companies group. The firm affords funding, safety, and retirement options, with a strategic give attention to three core markets (the United States, the United Kingdom, and the Netherlands), three progress markets (Spain & Portugal, Brazil, and China), and one world asset supervisor. Aegon’s goal of Helping individuals reside their greatest lives runs by way of all its actions. As a number one world investor and employer, the corporate seeks to have a optimistic affect by addressing important environmental and societal points, with a give attention to local weather change and inclusion & variety. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. More data will be discovered at aegon.com.
Forward-looking statements
The statements contained in this doc that aren’t historic info are forward-looking statements as outlined in the US Private Securities Litigation Reform Act of 1995. The following are phrases that determine such forward-looking statements: goal, consider, estimate, goal, intend, could, count on, anticipate, predict, mission, relying on, plan, proceed, need, forecast, objective, ought to, would, may, is assured, will, and related expressions as they relate to Aegon. These statements could include details about monetary prospects, financial circumstances and tendencies and contain dangers and uncertainties. In addition, any statements that confer with sustainability, environmental and social targets, commitments, objectives, efforts and expectations and different occasions or circumstances which can be partially depending on future occasions are forward-looking statements. These statements will not be ensures of future efficiency and contain dangers, uncertainties and assumptions which can be troublesome to foretell. Aegon undertakes no obligation, and expressly disclaims any obligation, to publicly replace or revise any forward-looking statements. Readers are cautioned to not place undue reliance on these forward-looking statements, which merely mirror firm expectations on the time of writing. Actual outcomes could differ materially and adversely from expectations conveyed in forward-looking statements as a result of adjustments attributable to varied dangers and uncertainties. Such dangers and uncertainties embrace however will not be restricted to the next:
- Unexpected delays, difficulties, and bills in executing in opposition to our environmental, local weather, variety and inclusion or different “ESG” targets, objectives and commitments, and adjustments in legal guidelines or rules affecting us, reminiscent of adjustments in information privateness, environmental, security and well being legal guidelines;
- Changes in basic financial and/or governmental circumstances, notably in the United States, the Netherlands and the United Kingdom;
- Civil unrest, (geo-) political tensions, army motion or different instability in a rustic or geographic area;
- Changes in the efficiency of monetary markets, together with rising markets, reminiscent of with regard to:
- The frequency and severity of defaults by issuers in Aegon’s fastened earnings funding portfolios;
- The results of company bankruptcies and/or accounting restatements on the monetary markets and the ensuing decline in the worth of fairness and debt securities Aegon holds;
- The results of declining creditworthiness of sure public sector securities and the ensuing decline in the worth of authorities publicity that Aegon holds;
- Changes in the efficiency of Aegon’s funding portfolio and decline in scores of Aegon’s counterparties;
- Lowering of a number of of Aegon’s debt scores issued by acknowledged ranking organizations and the opposed affect such motion could have on Aegon’s skill to boost capital and on its liquidity and monetary situation;
- Lowering of a number of of insurer monetary energy scores of Aegon’s insurance subsidiaries and the opposed affect such motion could have on the written premium, coverage retention, profitability and liquidity of its insurance subsidiaries;
- The impact of the European Union’s Solvency II necessities and different rules in different jurisdictions affecting the capital Aegon is required to take care of;
- Changes affecting rate of interest ranges and persevering with low or quickly altering rate of interest ranges;
- Changes affecting forex alternate charges, in explicit the EUR/USD and EUR/GBP alternate charges;
- Changes in the supply of, and prices related with, liquidity sources reminiscent of financial institution and capital markets funding, in addition to circumstances in the credit score markets in basic reminiscent of adjustments in borrower and counterparty creditworthiness;
- Increasing ranges of competitors in the United States, the Netherlands, the United Kingdom and rising markets;
- Catastrophic occasions, both artifical or by nature, together with by means of instance acts of God, acts of terrorism, acts of battle and pandemics, may end result in materials losses and considerably interrupt Aegon’s business;
- The frequency and severity of insured loss occasions;
- Changes affecting longevity, mortality, morbidity, persistence and different components which will affect the profitability of Aegon’s insurance merchandise;
- Aegon’s projected outcomes are extremely delicate to advanced mathematical fashions of monetary markets, mortality, longevity, and different dynamic techniques topic to shocks and unpredictable volatility. Should assumptions to those fashions later show incorrect, or ought to errors in these fashions escape the controls in place to detect them, future efficiency will range from projected outcomes;
- Reinsurers to whom Aegon has ceded vital underwriting dangers could fail to fulfill their obligations;
- Changes in buyer conduct and public opinion in basic associated to, amongst different issues, the sort of merchandise Aegon sells, together with authorized, regulatory or business necessity to fulfill altering buyer expectations;
- Customer responsiveness to each new merchandise and distribution channels;
- As Aegon’s operations help advanced transactions and are extremely depending on the right functioning of data expertise, operational dangers reminiscent of system disruptions or failures, safety or information privateness breaches, cyberattacks, human error, failure to safeguard personally identifiable data, adjustments in operational practices or insufficient controls together with with respect to 3rd events with which we do business could disrupt Aegon’s business, harm its repute and adversely have an effect on its outcomes of operations, monetary situation and money flows;
- The affect of acquisitions and divestitures, restructurings, product withdrawals and different uncommon gadgets, together with Aegon’s skill to combine acquisitions and to acquire the anticipated outcomes and synergies from acquisitions;
- Aegon’s failure to realize anticipated ranges of earnings or operational efficiencies, in addition to different administration initiatives associated to price financial savings, Cash Capital at Holding, gross monetary leverage and free money circulation;
- Changes in the insurance policies of central banks and/or governments;
- Litigation or regulatory motion that would require Aegon to pay vital damages or change the way in which Aegon does business;
- Competitive, authorized, regulatory, or tax adjustments that have an effect on profitability, the distribution price of or demand for Aegon’s merchandise;
- Consequences of an precise or potential break-up of the European financial union in entire or in half, or the exit of the United Kingdom from the European Union and potential penalties if different European Union nations go away the European Union;
- Changes in legal guidelines and rules, notably these affecting Aegon’s operations’ skill to rent and retain key personnel, taxation of Aegon firms, the merchandise Aegon sells, and the attractiveness of sure merchandise to its customers;
- Regulatory adjustments regarding the pensions, funding, and insurance industries in the jurisdictions in which Aegon operates;
- Standard setting initiatives of supranational normal setting our bodies such because the Financial Stability Board and the International Association of Insurance Supervisors or adjustments to such requirements which will have an effect on regional (reminiscent of EU), nationwide or US federal or state degree monetary regulation or the appliance thereof to Aegon, together with the designation of Aegon by the Financial Stability Board as a Global Systemically Important Insurer (G-SII); and
- Changes in accounting rules and insurance policies or a change by Aegon in making use of such rules and insurance policies, voluntarily or in any other case, which can have an effect on Aegon’s reported outcomes, shareholders’ fairness or regulatory capital adequacy ranges.
This doc comprises data that qualifies, or could qualify, as inside data throughout the that means of Article 7(1) of the EU Market Abuse Regulation (596/2014). Further particulars of potential dangers and uncertainties affecting Aegon are described in its filings with the Netherlands Authority for the Financial Markets and the US Securities and Exchange Commission, together with the Annual Report. These forward-looking statements communicate solely as of the date of this doc. Except as required by any relevant regulation or regulation, Aegon expressly disclaims any obligation or enterprise to launch publicly any updates or revisions to any forward-looking statements contained herein to mirror any change in Aegon’s expectations with regard thereto or any change in occasions, circumstances or circumstances on which any such assertion relies.
- 20221014 – PR – Aegon completes divestment stake Liberbank
