Aegon Posts Strong 2025 Results and Accelerates Shift to US-Centric Transamerica Group
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Aegon ( (AEG) ) just unveiled an announcement.
Aegon reported its second-half and full-year 2025 results on February 19, 2026, showing a net result of EUR 375 million for the second half, down from EUR 741 million a year earlier, but a 45% increase in full-year net profit to EUR 980 million. The operating result rose 11% in the second half to EUR 858 million and 15% for the full year to EUR 1.7 billion, while valuation equity per share increased 7% to EUR 9.06, reflecting strong commercial momentum, favorable markets, and share buybacks.
Capital generation and shareholder returns were robust, with operating capital generation before holding costs up 8% to EUR 711 million in the second half and EUR 1.3 billion for 2025, exceeding the company’s EUR 1.2 billion target. Aegon reported full-year free cash flow of EUR 829 million in line with guidance, maintained strong capital ratios, proposed an 11% higher final dividend of EUR 0.21 per share to reach EUR 0.40 for 2025, and returned EUR 1.1 billion to shareholders through dividends and buybacks.
Operationally, Transamerica delivered strong US growth in 2025, expanding World Financial Group to more than 95,000 licensed agents and achieving a record 30% rise in individual new life sales, alongside higher retirement assets and reduced capital employed in Financial Assets to USD 2.7 billion, beating its 2025 target. Asset management generated EUR 1.0 billion in net third‑party inflows, while the UK workplace platform recorded GBP 2.4 billion in net inflows, underscoring momentum across key franchises.
At its Capital Markets Day on December 10, 2025, Aegon outlined plans to become a leading US life and retirement group and decided to relocate its head office and legal seat to the US by January 1, 2028, after which Aegon Ltd. will be renamed Transamerica Inc. The group also launched a strategic review of Aegon UK, including a possible divestment, and a reinsurance deal on part of Transamerica’s Secondary Guarantee Universal Life block, positioning the company for mid‑single‑digit annual growth in operating results, operating capital generation, free cash flow, and dividend per share between 2025 and 2027.
The most recent analyst rating on (AEG) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Aegon stock, see the AEG Stock Forecast page.
Spark’s Take on AEG Stock
According to Spark, TipRanks’ AI Analyst, AEG is a Neutral.
The score is driven primarily by improving financial performance (return to profitability and decent cash conversion), supported by attractive valuation (low P/E and strong dividend yield). Technicals are mildly constructive with the price above key moving averages and neutral momentum indicators.
To see Spark’s full report on AEG stock, click here.
More about Aegon
Aegon Ltd. is an international life insurance, retirement, and asset management group with principal operations in the Netherlands, the United States under the Transamerica brand, the UK and other international markets. The company focuses on life insurance, retirement plans, and investment products, targeting middle and mass affluent customers, workplace savings, and third‑party asset management clients.
Average Trading Volume: 5,135,548
Technical Sentiment Signal: Buy
Current Market Cap: $11.67B
See more data about AEG stock on TipRanks’ Stock Analysis page.
