Aegon 2Q Earnings Rise, but Miss Forecasts

By Ian Walker

Dutch life insurer and pension company Aegon N.V. (AGN.AE) Thursday reported a rise in its second-quarter earnings, but still below analysts forecasts.

However Aegon, which generates most of its revenue in the U.S. through its Transamerica unit, raised its dividend to reflect its strong capital position and growing cash flows.

For the quarter ended June 30 Aegon made a net profit of 350 million euros ($385.73 million), compared with EUR343 million a year earlier. This compares with consensus forecast of EUR540 million, based on 15 analysts estimates taken from the company's website.

Underlying earnings before tax, which strips out exceptional and other one-off items, rose to EUR549 million, compared with EUR514 million for the first half of 2014 and analysts' expectations of EUR561 million.

The company's insurance group directive ratio, a measure of financial stability, fell to 206% in the second quarter, mainly driven by negative market impact.

The interim dividend has been increased to EUR0.12 per share, from EUR 0.11 for the first half of 2014.

-Write to Ian Walker at [e-mail]; @IanWalk40289749

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