Aegon NV

Aegon reported stronger first-half 2026 performance, with operating results up 9% to EUR 804 million, operating capital generation up 27% to EUR 416 million, and free cash flow of EUR 392 million. The company raised planned second-half share repurchases by EUR 150 million to EUR 350 million and increased its interim dividend 11% to EUR 0.21 per share. U.S. business growth was the main driver, as Transamerica benefited from strong sales including a 54% increase in individual life sales and a 12% rise in annuity sales, supported by digitally enabled underwriting. Aegon accepted higher new-business strain while citing attractive expected returns. Capital remained solid while the U.S. relocation proceeds, with a group solvency ratio of 169% and a U.S. risk-based capital ratio of 420%, above its 400% operating target. Aegon's move of its legal seat and future headquarters to the United States remains on schedule, with shareholder approval targeted for October 8 and completion expected in early 2028.

Aegon Ltd. commenced a EUR 200 million share buyback program on July 1, as previously announced during its December 2025 Capital Markets Day. The program is expected to be completed by December 23, 2026, with repurchased shares to be canceled. Largest shareholder Vereniging Aegon will participate pro-rata, accounting for EUR 37 million of the total. The company also announced the completion of a separate EUR 227 million buyback program that ran from January 12 to June 30, repurchasing over 33.9 million common shares at an average price of EUR 6.68, with a portion used for management compensation and the remainder to be canceled in the second half of 2026.

Zacks Investment Research named Aegon and Banco Santander as stocks with buy rank and strong income characteristics for July 9. Aegon, a financial services provider, saw its current-year earnings consensus estimate rise 4.6% over the last 60 days and carries a Zacks Rank #1 with a dividend yield of 4.7%, more than double the industry average of 2.1%. Banco Santander, also a financial service provider, had its current-year earnings estimate increase 2.5% over the same period and holds a Zacks Rank #1 with a dividend yield of 15%, compared with the industry average of 10.5%.

Aegon has launched a €200 million share buyback program, following the completion of its prior €227 million buyback. The new repurchase program, initially announced during the company’s Capital Markets Day in December 2025, is expected to be completed by December 23, 2026. Aegon intends to cancel the shares it repurchases. Vereniging Aegon, Aegon’s largest shareholder, has agreed to participate pro-rata based on its combined common shares and common shares B, which represent about 18.4% of the total shareholders’ voting rights.

Aegon Ltd. announced an agreement with its largest shareholder, Vereniging Aegon, and a new governance framework to support the company's planned relocation to the United States. The move is designed to align Aegon's corporate structure with US market standards as it pursues becoming a leading US-focused life insurance and retirement group. Key governance changes include moving the legal seat to Delaware, implementing annual director elections, and simplifying the capital structure by converting all Common Shares B into a single class of stock with equal voting rights. The company will also introduce annual Say-on-Pay advisory votes and authorize a new class of preferred stock to match customary US practices. As part of the restructuring, Vereniging Aegon will be renamed Vereniging Aegon Americas while retaining its 18.4% ownership stake, and will donate EUR 500 million to a new Netherlands-based charitable entity, Stichting Aegon Fonds Nederland, ensuring the continuation of its social impact initiatives. These changes remain subject to shareholder approval at an Extraordinary General Meeting scheduled for the fourth quarter of 2026.

Aegon has appointed Will Fuller as President and COO effective January 1, 2027, and selected New York City as the location for its future global corporate headquarters. Fuller, who joined Aegon in March 2021 as President and CEO of Transamerica, will oversee day-to-day management of Transamerica, Aegon’s International businesses, and Aegon Asset Management. The new Manhattan office is scheduled to open in mid-2027 and will house core corporate functions alongside members of the executive leadership team. In connection with the planned move of its head office, CEO Lard Friese will relocate to the United States at the beginning of 2027.