The Hague, October 28, 2022 – Aegon has taken note of the issuance of roughly 10% further shares {that a}.s.r. introduced on October 28, 2022, as half of its funding in relation to the transaction to mix a.s.r. with Aegon’s Dutch pension, life and non-life insurance, banking, and mortgage origination actions.
As per the transaction introduced yesterday, Aegon will obtain a 29.99% strategic shareholding in a.s.r. and money proceeds upon closing. Commensurate with the rise within the quantity of a.s.r. shares ensuing from the equity issuance, the quantity of shares that Aegon is predicted to obtain on closing of the transaction will increase by 10% from roughly 57.4 million to roughly 63.3 million.
Based on the closing worth of a.s.r.’s shares on October 26, 2022 – the day earlier than announcement of the transaction – this represents a rise within the worth of the shareholding of EUR 0.3 billion to EUR 2.7 billion. As a consequence of the adjustment mechanism agreed between events, the money proceeds can be lowered by EUR 0.3 billion to EUR 2.2 billion.
About Aegon
Aegon is an built-in, diversified, worldwide monetary providers group. The firm presents funding, safety, and retirement options, with a strategic deal with three core markets (the United States, the United Kingdom, and the Netherlands), three development markets (Spain & Portugal, Brazil, and China), and one international asset supervisor. Aegon’s objective of Helping individuals dwell their finest lives runs via all its actions. As a number one international investor and employer, the corporate seeks to have a constructive influence by addressing important environmental and societal points, with a deal with 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 info will be discovered at aegon.com.
Forward-looking statements
The statements contained on this doc that aren’t historic details are forward-looking statements as outlined within the US Private Securities Litigation Reform Act of 1995. The following are phrases that determine such forward-looking statements: goal, imagine, estimate, goal, intend, could, anticipate, anticipate, predict, mission, relying on, plan, proceed, need, forecast, aim, ought to, would, may, is assured, will, and comparable expressions as they relate to Aegon. These statements could comprise details about monetary prospects, financial circumstances and tendencies and contain dangers and uncertainties. In addition, any statements that consult with sustainability, environmental and social targets, commitments, objectives, efforts and expectations and different occasions or circumstances which might 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 might 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 resulting from adjustments prompted by numerous dangers and uncertainties. Such dangers and uncertainties embody 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, equivalent to adjustments in information privateness, environmental, security and well being legal guidelines;
- Changes normally financial and/or governmental circumstances, significantly within the United States, the Netherlands and the United Kingdom;
- Civil unrest, (geo-) political tensions, navy motion or different instability in a rustic or geographic area;
- Changes within the efficiency of monetary markets, together with rising markets, equivalent to with regard to:
- The frequency and severity of defaults by issuers in Aegon’s mounted earnings funding portfolios;
- The results of company bankruptcies and/or accounting restatements on the monetary markets and the ensuing decline within the worth of equity and debt securities Aegon holds;
- The results of declining creditworthiness of sure public sector securities and the ensuing decline within the worth of authorities publicity that Aegon holds;
- Changes within the efficiency of Aegon’s funding portfolio and decline in rankings of Aegon’s counterparties;
- Lowering of a number of of Aegon’s debt rankings issued by acknowledged score organizations and the hostile influence such motion could have on Aegon’s capacity to lift capital and on its liquidity and monetary situation;
- Lowering of a number of of insurer monetary power rankings of Aegon’s insurance subsidiaries and the hostile influence 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 keep up;
- Changes affecting rate of interest ranges and persevering with low or quickly altering rate of interest ranges;
- Changes affecting forex trade charges, specifically the EUR/USD and EUR/GBP trade charges;
- Changes within the availability of, and prices related to, liquidity sources equivalent to financial institution and capital markets funding, in addition to circumstances within the credit score markets normally equivalent to adjustments in borrower and counterparty creditworthiness;
- Increasing ranges of competitors within the United States, the Netherlands, the United Kingdom and rising markets;
- Catastrophic occasions, both artifical or by nature, together with by approach of instance acts of God, acts of terrorism, acts of struggle and pandemics, may lead to materials losses and considerably interrupt Aegon’s business;
- The frequency and severity of insured loss occasions;
- Changes affecting longevity, mortality, morbidity, persistence and different elements that will influence 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 fluctuate from projected outcomes;
- Reinsurers to whom Aegon has ceded vital underwriting dangers could fail to satisfy their obligations;
- Changes in buyer conduct and public opinion normally associated to, amongst different issues, the kind of merchandise Aegon sells, together with authorized, regulatory or business necessity to satisfy 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 correct functioning of info know-how, operational dangers equivalent to system disruptions or failures, safety or information privateness breaches, cyberattacks, human error, failure to safeguard personally identifiable info, 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 popularity and adversely have an effect on its outcomes of operations, monetary situation and money flows;
- The influence of acquisitions and divestitures, restructurings, product withdrawals and different uncommon objects, together with Aegon’s capacity 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 circulate;
- Changes within the insurance policies of central banks and/or governments;
- Litigation or regulatory motion that would require Aegon to pay vital damages or change the best way 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 partly, 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, significantly these affecting Aegon’s operations’ capacity to rent and retain key personnel, taxation of Aegon firms, the merchandise Aegon sells, and the attractiveness of sure merchandise to its shoppers;
- Regulatory adjustments referring to the pensions, funding, and insurance industries within the jurisdictions by 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 that will have an effect on regional (equivalent to 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’ equity or regulatory capital adequacy ranges.
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 legislation 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 is predicated.
- 20221028_PR Aegon on equity issuance asr
