Aegon Ltd. Files 20-F Annual Report

Ticker: AEFC · Form: 20-F · Filed: Apr 4, 2024 · CIK: 769218

Aegon LTD. 20-F Filing Summary
FieldDetail
CompanyAegon LTD. (AEFC)
Form Type20-F
Filed DateApr 4, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: 20-F, Aegon Ltd., IFRS 17, Financial Reporting, VAT

TL;DR

<b>Aegon Ltd. filed its 2023 20-F annual report, detailing financial results and accounting policy changes.</b>

AI Summary

AEGON LTD. (AEFC) filed a Foreign Annual Report (20-F) with the SEC on April 4, 2024. Aegon Ltd. filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing includes restated comparative figures for 2022 due to the initial application of IFRS 9 and IFRS 17. The net result for 'The Netherlands' standalone operations was EUR (1,746) after eliminations and considering holdings. Incentive plans include shares granted to personnel that are not yet vested. The Board of Directors fees are not subject to Dutch VAT as of May 7, 2021, with retroactive effect from June 13, 2019.

Why It Matters

For investors and stakeholders tracking AEGON LTD., this filing contains several important signals. The restatement of comparative figures due to IFRS 9 and IFRS 17 adoption impacts the comparability of financial data presented. The clarification on VAT exemption for Board of Directors fees and the reclamation of past VAT payments could have implications for Aegon's tax liabilities and financial reporting.

Risk Assessment

Risk Level: medium — AEGON LTD. shows moderate risk based on this filing. The company's financial reporting is impacted by the initial application of IFRS 9 and IFRS 17, requiring restatement of comparative figures, which can introduce complexity and potential for misinterpretation.

Analyst Insight

Review the impact of IFRS 9 and IFRS 17 restatements on Aegon's reported financial performance and key ratios.

Key Numbers

Key Players & Entities

FAQ

When did AEGON LTD. file this 20-F?

AEGON LTD. filed this Foreign Annual Report (20-F) with the SEC on April 4, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by AEGON LTD. (AEFC).

Where can I read the original 20-F filing from AEGON LTD.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by AEGON LTD..

What are the key takeaways from AEGON LTD.'s 20-F?

AEGON LTD. filed this 20-F on April 4, 2024. Key takeaways: Aegon Ltd. filed its 20-F annual report for the fiscal year ending December 31, 2023.. The filing includes restated comparative figures for 2022 due to the initial application of IFRS 9 and IFRS 17.. The net result for 'The Netherlands' standalone operations was EUR (1,746) after eliminations and considering holdings..

Is AEGON LTD. a risky investment based on this filing?

Based on this 20-F, AEGON LTD. presents a moderate-risk profile. The company's financial reporting is impacted by the initial application of IFRS 9 and IFRS 17, requiring restatement of comparative figures, which can introduce complexity and potential for misinterpretation.

What should investors do after reading AEGON LTD.'s 20-F?

Review the impact of IFRS 9 and IFRS 17 restatements on Aegon's reported financial performance and key ratios. The overall sentiment from this filing is neutral.

Risk Factors

Filing Stats: 4,454 words · 18 min read · ~15 pages · Grade level 11.9 · Accepted 2024-04-04 07:23:30

Filing Documents

Selected financial data

Selected financial data 100-101 3B Capitalization and indebtedness n.a. 3C Reasons for the offer and use of proceeds n.a. 3D

Risk factors

Risk factors 413-435 4 Information on the Company 4A History and development of the Company 2-3, 9-35, 313, 512-513 4B Business overview 91-92, 394-412, 436 4C Organizational structure 2-3, 314-315 4D Property, plants and equipment 437 4A Unresolved Staff Comments n.a. 5 Operating and Financial Review and Prospects 5A Operating results 102-106 5B Liquidity and capital resources 85-90, 231-233, 282-284, 293-295, 439 5C Research and development, patent and licenses etc. n.a. 5D Trend information 9-35, 100-120 5E Critical Accounting Estimates 174-177 6 Directors, Senior Management and Employees 6A Directors and senior management 48-53 6B Compensation 62-78, 225-227, 315-317 6C Board practices 42-46 6D Employees 15, 27-31, 212, 377 6E Share ownership 42-46, 75-76, 380-383 6F Disclosure of a registrant's action to recover erroneously awarded compensation n.a. 7 Major Shareholders and Related Party Transactions 7A Major shareholders 42-46, 380-383 7B Related party transactions 315-317 7C Interest of experts and counsel n.a. 8 Financial Information 8A Consolidated Statements and Other Financial Information 122-130, 384-389, 439 8B Significant Changes n.a. 9 The Offer and Listing 9A Offer and listing details 440 9B Plan of distribution n.a. 9C Markets 440 9D Selling shareholders n.a. 9E

Dilution

Dilution n.a. 9F Expenses of the issue n.a. Annual Report on Form 20-F 2023 | 10 Additional Information 10A Share capital n.a. 10B Memorandum and articles of association 441-444 10C Material contracts 445 10D Exchange controls 446 10E Taxation 447-450 10F Dividends and paying agents n.a. 10G n.a. 10H Documents on display 513 10I Subsidiary Information n.a. 10J Annual report to security holders n.a. 11

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 79-84, 85-90, 177-207, 275-282 12

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities n.a. 13 Defaults, Dividend Arrearages and Delinquencies n.a. 14 Material Modifications to the Rights of Security Holders and Use of Proceeds n.a. 15

Controls and Procedures

Controls and Procedures 94-95 16A Audit committee financial expert 58 16B Code of Ethics 93 16C Principal Accountant Fees and Services 451 16D Exemptions from the Listing Standards for Audit Committees n.a. 16E Purchases of Equity Securities by the Issuer and Affiliated Purchasers 452 16F Change in Registrant's Certifying Accountant n.a. 16G Corporate Governance 42-46, 444 16H Mine Safety Disclosure n.a. 16I Disclosure Regarding Foreign Jurisdictions that Prevent Inspections n.a. 16J Cybersecurity 453-454 17

Financial Statements

Financial Statements n.a. 18

Financial Statements

Financial Statements 122-378, 384-389 19 Exhibits 514 Annual Report on Form 20-F 2023 | Our purpose People are living longer, and we welcome the possibilities this brings. We see longevity, aging, and changing life patterns as an opportunity for our customers, our employees, and society as a whole. As recently as the late 20th century, life consisted of three stages: 20 years of education, 40 years of work, and a short retirement of 15-20 years. Since then, life expectancy has increased globally. This trend is forcing us to rethink what life should look like: when we study, work, take breaks, and switch careers. The idea of a standard path no longer applies; there are as many options as there are lives. Longer lifespans bring new challenges. But they are also keeping people younger for longer. The old associations with aging – of frailty and inactivity – are being replaced by the expectation that the years after 60 can be the most rewarding. This coincides with a growing awareness of the earth's finite resources: people are increasingly using their extra time on this planet to find ways to make a positive impact. Financial services customers are looking to companies to support them in living longer, more varied lives while enabling them to contribute to a better world. At Aegon, we aim to support society's transition from the traditional three-stage life to a multi-stage life, so that people from all walks of life can make the most of their time on earth. That is why, across our businesses, we are guided and united by a single, clear purpose: Helping people live their best lives. Contents 2 About Aegon 6 CEO interview 9 Our strategy 39 Governance and risk management 40 Boards and Governance 79 Risk management 91 Regulation and supervision 97 Financial information 102 Results of operations 122 Financial statements 394 Business overviews 455 Sustainability information 456 Basis of preparation 461 Our material topics 483 Our commitments About

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