Aegon Ltd.
- Open
- 9.29
- Day high
- 9.29
- Day low
- 9.14
- Prev close
- 9.19
- Volume
- 4.8M
- Mkt cap
- $14.5B
- P/E (TTM)
- 5.5
- EPS (TTM)
- $1.66
- P/B
- 1.4
- P/S
- 0.3
- Yield
- 5.07%
- Per share
- $0.46
Aegon Ltd. (AEG) is a Financial Services company listed on NYSE. The stock is up 19% over the past year. Drillr has 1 published research article covering AEG.
Aegon Ltd. (AEG) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AEG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 20, 2026 | $0.35 | $0.45 | +25.7% | $817M | -88.9% |
| Mar 26, 2026 | $0.48 | $0.27 | -43.7% | $22.3B | +201.8% |
| Nov 13, 2025 | $0.30 | $0.43 | +45.7% | $7.8B | — |
| Feb 20, 2025 | $0.16 | $0.37 | +124.7% | $16.9B | — |
| Aug 22, 2024 | $0.31 | $-0.16 | -152.3% | $3.5B | — |
| Apr 3, 2024 | — | $0.01 | — | $3.4B | — |
| Mar 31, 2024 | — | $-0.02 | — | $3.5B | — |
| Sep 29, 2023 | — | $-0.02 | — | $3.3B | — |
| Nov 10, 2022 | $-0.29 | $-0.10 | +65.5% | $-24.3B | -450.0% |
| Sep 30, 2022 | — | $-0.08 | — | $-3.8B | — |
| May 12, 2022 | $0.41 | $0.19 | -53.7% | $16.9B | +92.3% |
| Mar 31, 2022 | — | $0.16 | — | $-9.6B | — |
AEG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | Ramsay Caroline Francesdirector | Grant | 32 | — |
| Jul 8, 2026 | Ellman Mark Alandirector | Grant | 32 | — |
| Jul 8, 2026 | McGarry John Fdirector | Grant | 32 | — |
| Jul 8, 2026 | Wellauer Thomas Peterdirector | Grant | 32 | — |
| Jul 8, 2026 | Herzog David Ldirector | Grant | 136 | — |
| Jul 8, 2026 | Fouche Lori Dickersondirector | Grant | 32 | — |
| Jul 8, 2026 | Ralph Jay Stuartdirector | Grant | 32 | — |
| Jul 8, 2026 | BENCHIMOL ALBERTdirector | Grant | 32 | — |
| Jul 8, 2026 | Boeren Lenidirector | Grant | 21 | — |
| Jun 17, 2026 | Boeren Lenidirector | Grant | 4,160 | — |
| May 11, 2026 | Ramsay Caroline Francesdirector | Tax | 2,552 | $8.36 |
| Mar 27, 2026 | Friese Eilarddirector, officer: Chief Executive Officer | Tax | 100,521 | $7.15 |
| Mar 27, 2026 | Fawcett Karendirector | Tax | 2,632 | $7.15 |
| Mar 27, 2026 | Russell Duncan Jamesofficer: Chief Financial Officer | Tax | 61,678 | $7.15 |
| Mar 27, 2026 | Fuller Wilford H.officer: See Remarks | Tax | 221,990 | $7.15 |
Source: AEG SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full AEG insider & 13F page →Aegon Ltd. company profile
Overview
Aegon N.V. (NYSE:AEG) is a Dutch multinational insurance and financial services company founded in 1983 through the merger of two Dutch insurance companies, AGO and Ennia. Headquartered in The Hague, Netherlands, Aegon has evolved into one of the world's largest life insurance and pension providers, operating primarily in the Americas, the Netherlands, and the United Kingdom. The company went public in 1985 and has since undergone significant transformation, including a strategic redomiciliation to Bermuda for regulatory purposes while maintaining operational headquarters in the Netherlands. Today, Aegon focuses on providing insurance, pensions, and asset management services to middle-market customers, with particular strength in the United States through its Transamerica brand and World Financial Group distribution network.
Business
Aegon operates in the diversified insurance industry, providing a comprehensive range of financial protection and wealth accumulation products across multiple markets. The company's business is structured around four main segments that serve different customer needs and geographic markets. Americas segment (approximately 60% of operating results) represents Aegon's largest operation, primarily conducted through the Transamerica brand in the United States. This segment includes Protection Solutions offering life insurance products, Savings & Investments providing annuities and retirement products, and Distribution through the World Financial Group (WFG) network of approximately 86,000 licensed agents. The Americas segment also manages Financial Assets, which are legacy products being actively reduced through runoff strategies. Asset Management segment manages €332 billion in assets under management, providing investment solutions to both institutional and retail clients. This includes Global Platforms serving third-party clients and Strategic Partnerships with companies like ASR. The segment generates revenue through management fees based on assets under management and performance fees. UK segment focuses on workplace pensions and retail investment platforms, serving the British retirement savings market. The UK Workplace platform has achieved strong growth with £3.7 billion in net deposits, while the retail adviser platform continues to face challenges with net outflows. International segment operates in various emerging and developed markets including Brazil, China, Spain, and other European countries, offering life insurance, non-life insurance, and pension products. This segment has faced headwinds particularly in China due to low interest rate environments affecting product attractiveness.
Revenue model
Aegon generates revenue through multiple complementary business models across its insurance and asset management operations. The primary revenue streams include insurance premiums from life, health, and property casualty policies, investment management fees calculated as a percentage of assets under management, and spread income from the difference between investment returns and policyholder crediting rates on savings products like annuities. The company's distribution model varies by segment, with the Americas relying heavily on the World Financial Group's agent network that sells products on a commission basis, while the UK focuses on workplace pension platforms serving employers and their employees. Asset management clients include institutional investors, retail customers, and strategic partners who pay management fees typically ranging from 0.3% to 1.5% of assets under management. Several factors significantly impact Aegon's profitability margins. Interest rate environments are crucial, as higher rates improve spread income on insurance products and reduce the present value of future liabilities, while low rates compress margins and make products less attractive to customers. Mortality and morbidity experience directly affects claims costs, with favorable experience boosting results and adverse experience reducing profitability. Equity market performance influences both asset management fee income and the value of investments backing insurance liabilities. Regulatory changes, particularly around capital requirements and fiduciary standards, can impact both costs and distribution capabilities. The company also faces competitive pressure in fee-based businesses and must manage expense ratios carefully to maintain margins, particularly in mature markets where growth is limited.
Competitive moat
Aegon's competitive moat is moderate but faces significant challenges in an increasingly competitive and regulated financial services landscape. The company's strongest defensive position lies in its distribution capabilities, particularly the World Financial Group agent network of 86,000 licensed representatives in the United States. This extensive distribution system creates barriers to entry for competitors and provides direct access to middle-market customers who prefer face-to-face financial advice. The agent network also generates recurring revenue streams and cross-selling opportunities across multiple product lines. The company benefits from scale advantages in asset management with €332 billion under management, allowing for competitive fee structures and investment in technology platforms. In the UK, Aegon's workplace pension platform has achieved significant scale with £3.7 billion in net deposits, creating switching costs for employers and employees enrolled in these programs. However, Aegon's moat faces several vulnerabilities. The commoditization of financial products has intensified price competition, particularly in annuities and basic life insurance. Digital disruption threatens traditional agent-based distribution models as customers increasingly prefer online platforms and robo-advisors. Regulatory pressures, including fiduciary rules and capital requirements, continue to increase compliance costs and may limit distribution flexibility. The company also competes against larger, better-capitalized insurers and asset managers with stronger brand recognition and more diversified revenue streams. In emerging markets like China, local competitors often have regulatory advantages and better understanding of customer preferences, limiting Aegon's growth potential.
Risks & safety
Aegon presents a moderate margin of safety with manageable debt levels but faces earnings volatility typical of insurance companies. • Liquidity position: €3.6 billion in cash and short-term investments provides adequate liquidity buffer • Debt management: Debt-to-equity ratio of 0.54 is reasonable for an insurance company, with gross financial leverage reduced to approximately €5 billion • Capital generation: Operating capital generation of €1.2 billion guidance for 2025 supports dividend payments and share buybacks • Solvency: No immediate solvency concerns given insurance regulatory capital requirements • Valuation metrics: Trading at 4.0x P/E ratio and 1.25x book value, suggesting potential undervaluation • Dividend sustainability: Current dividend yield supported by free cash flow generation of €800 million target • Share buybacks: Active €150 million buyback program demonstrates confidence in valuation • Risk considerations: Exposure to mortality/morbidity volatility, interest rate sensitivity, and regulatory changes in multiple jurisdictions create earnings unpredictability
Recent development
Over the past few years, Aegon has undergone a significant strategic transformation focused on simplifying its business model and concentrating on higher-growth, capital-efficient segments. The company completed a major transaction with ASR in the Netherlands, combining its Dutch operations while retaining focus on international markets. This transaction provided capital for a substantial €1.5 billion share buyback program, demonstrating management's commitment to returning excess capital to shareholders. The Americas strategy centers on transforming Transamerica into America's leading middle-market life insurance and retirement company. Aegon has aggressively expanded the World Financial Group distribution network from 74,000 to 86,000 licensed agents, targeting 110,000 agents by 2027. The company has simultaneously worked to reduce exposure to capital-intensive Financial Assets through runoff strategies and policy buyback programs, decreasing this segment from higher historical levels to $3.4 billion. In Asset Management, Aegon has focused on building third-party relationships and strategic partnerships, achieving €9.2 billion in global platform net deposits in 2024. The UK business has concentrated on growing the workplace pension platform, which achieved record net deposits of £3.7 billion, while managing challenges in the retail adviser platform. The company has also undertaken significant operational improvements, including redomiciling to Bermuda for regulatory efficiency while maintaining operational headquarters in the Netherlands. Management has consistently exceeded expense reduction targets and improved capital generation efficiency across all segments.
AEG company profile · for informational purposes only — not investment advice.
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