Jason Kalamboszis's questions to Aegon Ltd (AEG) leadership • H1 2024
Question
Jason Kalamboszis of ING asked if OCG guidance has a positive bias from experience variances, despite a zero assumption, and requested the H2 outlook for OCG from financial assets. He also inquired about a potential sales rebound in Spain and the timing for the next capital return update.
Answer
CEO Lars Frieser noted that sales in Spain should gradually recover as interest rates ease. On capital returns, he highlighted the ongoing €200M buyback and reiterated the policy to return excess capital over time, with evaluations being continuous. CFO Matt Rider explained the OCG run-rate normalizes to about €290M per quarter and that assumption changes have a minor impact, with business growth being the key driver.