Aegon Ltd. Files 6-K Report

TL;DR

Aegon Ltd. filed a 6-K on Nov 15, 2024. Nothing major disclosed, just standard reporting.

AI Summary

Aegon Ltd. filed a Form 6-K on November 15, 2024, to report a press release dated November 15, 2024. The filing includes information about Aegon Limited's statutory seat in Bermuda and its principal place of business in The Netherlands. J.H.P.M van Rossum, Executive Vice President, signed the report.

Why It Matters

This filing indicates Aegon Ltd. is providing updated information to the SEC, which could include material developments relevant to investors.

Risk Assessment

Risk Level: low — This filing is a routine report of foreign issuer information and does not appear to contain significant new financial or operational disclosures.

Key Players & Entities

• Aegon Ltd. (company) — Filer of the report
• November 15, 2024 (date) — Date of the press release and filing
• J.H.P.M van Rossum (person) — Executive Vice President who signed the report

FAQ

Filing Documents

• d837471d6k.htm (6-K) — 322KB
• g837471dsp2.jpg (GRAPHIC) — 7KB
• 0001193125-24-259322.txt ( ) — 333KB

From the Filing

6-K 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 November 2024 Aegon Ltd. Aegon Limited Statutory seat Principle place of business Bermuda Registrar of Companies number: 202302830 An exempted company with liability Canons Court Aegonplein 50 (September 30, 2023) limited by shares www.aegon.com 22 Victoria Street Hamilton HM 12 Bermuda 2591 TV The Hague The Netherlands Dutch Chamber of Commerce number: 27076669 Aegon Limited is a non-resident company under the Dutch Act Non Residential Companies Aegons press release, dated November 15, 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: November 15, 2024 By J.H.P.M van Rossum J.H.P.M van Rossum Executive Vice President and Head of Corporate Financial Center November 15, 2024 3Q24 trading update Aegon trading update for third quarter 2024 EUR 336 million operating capital generation, before holding funding and operating expenses. Full-year 2024 guidance raised to around EUR 1.2 billion, from around EUR 1.1 billion previously Capital ratios of the main units remain above their respective operating levels Planned new EUR 150 million share buyback program announced; completion expected in the first half of 2025. The program includes neutralization of shares issued for share-based compensation plans Cash Capital at Holding of EUR 1.5 billion as of September 30, 2024. Expect to reach mid-point of the target range (EUR 1.0 billion) by the end of 2026 Completed program to purchase institutionally owned universal life policies. Terminated policies negatively impacted US RBC ratio by 16%-points. Expect 8%-points benefit in 40 2024 after equity funding repayment. Operating capital generation benefits from the program, as previously guided Strong commercial momentum in Asset Management and UK Workplace platform. US Strategic Assets experience commercial volatility. UK Adviser platform continues to be affected by challenging market conditions Lard Friese, Aegon CEO, commented: In the third quarter, we continued to execute our strategy to grow our franchises. Despite some volatility in our commercial results, we are on track to deliver on the strategy outlined at our 2023 Capital Markets Day (CMD). In the US, the number of World Financial Group agents grew by 19% compared with 3Q 2023 to almost 82,500, but we also observed a shift in focus to third-party annuity products sales during the third quarter, which also benefited WFG revenues. This shift negatively impacted Individual Life sales. Mid-sized retirement plans also saw net outflows of USD 0.4 billion, as higher than usual withdrawals were only partially offset by an increase in gross deposits. Our UK business continued on its path to become a leading digital savings and retirement platform, as outlined at our June 2024 Strategy Teach-ln. Our Workplace platform continued to grow with net inflows of GBP 0.9 billion. Outflows continued in our Adviser platform, as anticipated. We saw continued momentum at Aegon Asset Management, where third-party net deposits in Global Platforms and Strategic Partnerships totaled EUR 4 billion, driven mostly by alternative fixed income products in Global Platforms. Our International business experienced some cyclical headwinds, for example, the impact of higher interest rates in Brazil. We continued to execute our strategy in the US to reduce our exposure to our Financial Assets and have completed our program to purchase universal life policies from institutional shareholders. This program has a negative impact on the US RBC ratio but operating capital generation (OCG) benefits from the program going forward. During the quarter, we generated EUR 336 million of OCG, mostly from our US business. With year-to-date OCG of over EUR 900 million, we now expect full-year 2024 OCG of around EUR 1.2 billion compared with around EUR 1. 1 billion that we previously guided for. Our cash capital remained strong at EUR 1.5 billion, as did the capital positions of our units. Consequently, consistent with our capital management framework, we announce today a planned new share buyback program of EUR 150 million. We expect the new program to begin in January 2025, and to be completed in the first half of the year. In addition, we today clarify that we plan to manage our Cash Capital at Holding down to the mid-point of the EUR 0.5- 1.5 billion range by the end of 2026. Please note that all comparisons are versus the third quarter of 2023 unless stated otherwise. Contact details and dial-in information can be found at the end of this press release, on p

View Full Filing

View this 6-K filing on SEC EDGAR