Aegon Ltd. Files 2023 Financial Condition Report

TL;DR

Aegon dropped its 2023 financials, check the risk and capital management sections.

AI Summary

Aegon Ltd. filed a 6-K report on May 7, 2024, incorporating its 2023 Financial Condition Report dated May 6, 2024. The report details the company's business and performance, governance structure, risk profile, solvency valuation, and capital management. It also includes information on the insurance group and its supervisors.

Why It Matters

This filing provides investors with a comprehensive update on Aegon's financial health, operational performance, and risk management strategies for the year 2023.

Risk Assessment

Risk Level: medium — The filing is a routine financial report, but the details within the risk profile and solvency valuation sections could contain material information impacting the company's risk.

Key Players & Entities

• AEGON LTD. (company) — Filer of the report
• May 7, 2024 (date) — Filing date of the 6-K report
• May 6, 2024 (date) — Date of the incorporated 2023 Financial Condition Report
• J.H.P.M. van Rossum (person) — Head of Corporate Financial Center, signatory for Aegon Ltd.

FAQ

Filing Documents

• d814178d6k.htm (6-K) — 897KB
• g814178dsp4.jpg (GRAPHIC) — 1KB
• g814178g01g01.jpg (GRAPHIC) — 514KB
• g814178g09g09.jpg (GRAPHIC) — 338KB
• g814178g52g52.jpg (GRAPHIC) — 112KB
• g814178g67g67.jpg (GRAPHIC) — 22KB
• 0001193125-24-132513.txt ( ) — 2259KB

From the Filing

6-K Table of Contents Securities and Exchange Commission Washington, D.C. 20549 Form 6-K Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d/16 of the Securities Exchange Act of 1934 May 2024 AEGON Ltd. Aegonplein 50 2591 TV THE HAGUE The Netherlands Table of Contents Aegons 2023 Financial Condition Report, dated May 6, 2024, is included as appendix and incorporated herein by reference. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. AEGON Ltd. (Registrant) Date: May 7, 2024 By /s/ J.H.P.M. van Rossum J.H.P.M. van Rossum Head of Corporate Financial Center Table of Contents Table of Contents Table of contents Summary 3 Business and performance 3 Governance structure 4 Risk profile 4 Solvency valuation 5 Capital management A. Business and performance 6 A.1 Insurance group 7 A.2 Name and contact details of the group supervisor 7 A.3 Name and contact details of the approved group auditor 8 A.4 A description of the ownership details including proportion of ownership interest of the insurance Group 8 A.5 A group structure chart detailing the Group structure 10 A.6 Insurance business written by changes in liability for remaining coverage and segment by the insurance Group during the reporting period 11 A.7 Performance of investments by asset class and details on material income and expenses incurred by the insurance Group during the reporting period 12 A.8 Any other material information B. Governance structure 13 B.1 Parent board and senior executives 17 B.2 Fitness and proper requirements 19 B.3 Risk management and Solvency self-assessment 23 B.4 Internal controls 26 B.5 Internal Audit - a description of how the Internal Audit Function of the insurance Group is implemented and how it maintains its independence and objectivity when conducting its functions 27 B.6 Actuarial Function - a description of how the insurance Groups Actuarial Function is implemented 28 B.7 Outsourcing 28 B.8 Any other material information C. Risk profile 29 C.1 Material risks that the insurance group is exposed to, including how these risks are measured and any material changes that have occurred during the reporting period 38 C.2 How risks of the insurance group are mitigated including the methods used and the process to monitor the effectiveness of these methods 40 C.3 Material risk concentrations 42 C.4 Prudent person principle 43 C.5 The stress testing and sensitivity analysis to assess material risks, including the methods and assumptions used by the insurance Group, and the outcomes 44 C.6 Any other material information D. Solvency valuation 45 D.1 The valuation basis, assumptions and methods used to derive the value of each asset class 46 D.2 The valuation basis, assumptions and methods used to derive the value of technical provisions 49 D.3 A description of recoverables from reinsurance contracts, including Special Purpose Insurers (SPI) and other risk transfer mechanisms 50 D.4 The valuation basis, assumptions and methods used to derive the value of other liabilities 51 D.5 Any other material information E. Capital management 53 E.1 Eligible Capital 59 E.2 Regulatory capital requirements 60 E.3 Approved internal capital model used to derive the SCR F. Subsequent events 63 F.1 Description of subsequent events 63 F.2 Any other material information G. Declaration Disclaimer Contact 2 |Aegon Financial Condition Report 2023 Table of Contents Summary Summary Aegon Ltd. is referred to in this document as Aegon, or the Company, and is together with its member companies referred to as Aegon Group or the Group. For such purposes member companies means, in relation to Aegon, those companies required to be consolidated in the Aegon Group solvency numbers. As at December 31, 2023, Aegon is subjected to insurance group regulatory supervision by the Bermuda Monetary Authority (BMA). This document represents the Group Financial Condition Report (FCR) that is required to be published. Following the transfer of Aegons legal domicile to Bermuda on September 30, 2023, group supervision moved from the Dutch Central Bank (DNB) to the Bermuda Monetary Authority. Aegons Group Solvency ratio and surplus under the Bermuda Solvency framework will be broadly in line with that under the Solvency II Regime during a transition period until the end of 2027. Aegons UK insurance subsidiaries have been incorporated into Aegons Group Solvency calculation in accordance with UK Solvency II standards, including Aegon UKs approved Partial Internal Model. After the transition period, Aegon will fully adopt the Bermu

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View this 6-K filing on SEC EDGAR