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Dutch-origin international life insurer and asset manager, now with US (Transamerica), UK and Netherlands operations.
Dutch-origin international life insurer and asset manager, now with US (Transamerica), UK and Netherlands operations.
Earns from insurance premiums and the return on the savings it holds for policyholders, plus fees on retirement assets it administers or manages. The US business under the Transamerica name is the largest; the UK adds workplace pensions. In 2023 it combined its Dutch unit into a.s.r. for a stake of just under a third in that insurer, and moved its legal home to Bermuda.
In one line: Global peer of MetLife/Prudential Financial.
Moat: narrow (scale, distribution, brand). Long-standing distribution in the US and UK, but faces intense competition and legacy book runoff.
Headquarters: The Hague, Netherlands · Founded: 1983 · Employees: 15,304
Size Aegon (AGN.AS) is a Netherlands Financials company (Multi-Line Insurance) with a market value of $12.7B, the 21st largest of 61 Netherlands companies the cockpit tracks. Shares closed at €7.53 on 6 Nov 2026.
Performance Over six months the shares gained 3.8%, against +9.1% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 16.4% over the last twelve months (peer median +6.5%); the operating margin is 2.5% (peer median 14.1%).
Valuation It trades at 1.25× book value against a peer median of 1.68× (6th cheapest of 21).
Price implies The share price implies a return on equity of about 8.2%; Aegon delivers 10.5%, so the price asks less than the business earns today.
Credit Aegon has 4 bonds outstanding ($1.89B), rated BBB+ by the agencies and trading like AA+ at a weighted spread of 75 bp.
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €26.1B | €33.4B | €30.0B | €22.9B | €53.8B |
| Revenue growth | — | +11% | +31% | -57% | — |
| Net income | €1.01B | €977M | €688M | €234M | €524M |
| Free cash flow | €200M | €887M | -€2.19B | €2.96B | €3.08B |
| Capital expenditure | €50.0M | €54.0M | €66.0M | €116M | €98.0M |
| Total debt | n/a | €5.61B | €6.87B | €6.82B | €8.66B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Aegon AGN.AS | $12.7B | +4% | +16% | 10% | 1.25× | 8.2% |
| MetLife MET | $62.4B | +27% | +9% | 13% | 2.28× | 16.2% |
| Prudential Financial PRU | $41.1B | +20% | +4% | 13% | 1.39× | 11.4% |
| Legal & General LGEN.L | $21.9B | +24% | +137% | 26% | 7.73× | 70.7% |
| NN Group N.V. NN.AS | $22.4B | +4% | +39% | 9% | 1.08× | 6.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AGN.AS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.9% | +1.6% | 10th highest of 21 |
| 6-month return | +3.8% | +9.1% | 7th lowest of 21 |
| Return on equity | 10.5% | 16.7% | 5th lowest of 21 |
| Price / book | 1.25× | 1.68× | 6th cheapest of 21 |
| Trailing P/E | 11.7× | 10.7× | 10th most expensive of 20 |
| ROE the price implies | 8.2% | 10.9% | 6th least demanding of 21 |
| ROE delivered | 10.5% | 16.6% | 5th lowest of 20 |
| Bond spread | 75 bp | 90 bp | 3rd tightest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Aegon AGN.AS | Netherlands | $12.7B | +4% | +16% | 10% | 1.25× | 8.2% | 10.5% |
| CNA Financial CNA | United States | $12.8B | +9% | +2% | 10% | 1.25× | 7.2% | 9.6% |
| Unum UNM | United States | $12.2B | -5% | -5% | 3% | 1.52× | 8.1% | 2.6% |
| Globe Life GL | United States | $12.1B | +4% | +6% | 21% | 2.08× | 11.7% | n/a |
| Aditya Birla Capital ABCAPITAL.NS | India | $11.5B | +8% | +24% | 12% | 2.56× | 41.9% | 12.1% |
| Mapfre MAP.MC | Spain | $14.1B | -2% | +5% | 12% | 1.26× | 8.4% | 12.4% |
| Gjensidige Forsikring GJF.OL | Norway | $14.7B | +9% | +7% | 30% | 5.73× | 19.1% | 29.9% |
| Suncorp SUN.AX | Australia | $14.9B | +21% | -3% | 10% | 2.08× | 11.7% | 9.8% |
| Brookfield Wealth Solutions BNT.TO | Canada | $14.9B | -8% | -18% | 1% | 0.70× | 9.4% | 0.7% |
| Powszechny Zaklad Ubezpieczen Spolka Akcyjna PZU.WA | Poland | $16.1B | +15% | +1% | 20% | 1.83× | 19.5% | 19.5% |
| ASR Nederland ASRNL.AS | Netherlands | $17.3B | +14% | +6% | 13% | 1.74× | 8.3% | 13.1% |
| Kinsale Capital KNSL | United States | $8.64B | +26% | +8% | 28% | 4.70× | 30.6% | 27.8% |
| China Taiping Insurance 0966.HK | Hong Kong | $8.28B | -24% | +19% | 36% | 0.63× | 8.1% | 36.2% |
| Hiscox HSX.L | United Kingdom | $8.08B | +18% | +4% | 17% | 2.06× | 15.1% | 16.6% |
| Lincoln National LNC | United States | $7.67B | +12% | +12% | 23% | 0.74× | 8.6% | 22.6% |
| Axis Capital AXS | United States | $7.60B | +7% | +10% | 16% | 1.33× | 8.1% | 16.0% |
| New China Life Insurance 1336.HK | Hong Kong | $21.5B | -24% | +44% | 42% | 0.87× | 10.3% | 42.3% |
| Great Eastern G07.SI | Singapore | $7.47B | +21% | +27% | 15% | 1.73× | 11.4% | 14.8% |
| Legal & General LGEN.L | United Kingdom | $21.9B | +24% | +137% | 26% | 7.73× | 70.7% | 26.2% |
| Db Insurance 005830.KS | South Korea | $6.90B | +2% | -14% | 17% | 0.85× | 5.1% | 17.0% |
| Unipol Assicurazioni UNI.MI | Italy | $23.8B | +13% | +7% | 17% | 1.62× | 14.9% | 16.9% |
Aegon has 4 bonds outstanding with $1.89B face value. The agencies rate it BBB+; its bonds trade like AA+. Weighted yield 5.85%, a spread of 75 bp over government bonds.