Aegon reported an Operating Capital Generation (OCG) of EUR 336 million for the third quarter of 2024, with the majority derived from its US business. The company's year-to-date OCG reached over EUR 900 million, demonstrating robust operational performance throughout the year.
Based on these results, Aegon raised its full-year 2024 OCG guidance to approximately EUR 1.2 billion, an increase from its previous guidance of EUR 1.1 billion. This upward revision signals management's confidence in the company's continued profitability and strategic execution.
In a move to return capital to shareholders, Aegon announced a new share buyback program of EUR 150 million, scheduled to begin in January 2025 and conclude by the first half of the year. This initiative aligns with the company's plan to manage cash capital at the holding company down to a range of EUR 0.5 billion to EUR 1.5 billion by the end of 2026.
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