1320 GMT - Aegon's conservative accounting was behind market disappointment after its annual results, but seems to prepare the groundwork for its next three-year plan, Berenberg says in a research note. Shares fell 9% Thursday after the Dutch insurer made a change to how it reports onerous contracts, which depressed its 2024 operating profit. The results presentation gave a clear guide on management's priorities for the plan they will outline in December, analyst Michael Huttner writes. These are likely to feature a greater focus on IFRS 17 operating profits, a timetable to reduce the U.S. Financial Assets capital employed to 2.2 billion euros from 3.4 billion euros, and a new buyback assumption, he says. Shares trade at 5.97 euros. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 08:20 ET (13:20 GMT)
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