Iain Pearce's questions to Aegon Ltd (AEG) leadership • H1 2025
Question
Iain Pearce of Exane BNP Paribas questioned the main challenges of the potential re-domiciliation, including the U.S. GAAP transition and any discussions with the main shareholder, Vereniging Aegon. He also asked if the move presented asset allocation opportunities, such as re-risking the U.S. portfolio.
Answer
CEO Lard Friese identified key challenges as building up head office processes in the U.S. while reducing them elsewhere, managing the complex U.S. GAAP implementation, and ensuring proper change management. He confirmed Vereniging Aegon has been informed. CFO Duncan Russell stated he sees no impact from the re-domiciliation on asset allocation choices, as the U.S. entity is already managed under the U.S. statutory regime with an appropriate asset allocation for its liabilities.