Aegon Reports Higher Net Income

By Staff Writer

November 08, 2001 at 07:00 PM

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NU Online News Service, Nov. 8, 4:13 p.m. – Aegon N.V., The Hague, Netherlands, is reporting $531 million in net income for the third quarter on $6.8 billion in revenue, up from $472 million in net income on $6.8 billion in revenue for the third quarter of 2000.

Aegon sells life insurance and investment products along with other financial products and services.

The latest earnings figures include $13 million reported claims resulting from the Sept. 11 attacks, and $21 million in attack-related claims that have been incurred but not reported, Aegon says.

Reinsurance arrangements should hold total Sept. 11 claims to less than $50 million, Aegon says.

New variable annuity deposits fell 25%, to $1.3 billon, but fixed annuity deposits increased 23%, to $1.6 billion.
Sales of guaranteed investment contracts and funding agreements increased 16%, to $3.1 billion.
New life sales increased to $550 million, from $540 million.
Commissions and other sales expenses increased to $1.1 billion, from $917 million.

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