Published by Global Banking & Finance Review®
Posted on November 13, 2025
2 min readLast updated: January 21, 2026
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Aegon is set to meet its 2025 targets, driven by US growth in life insurance and retirement plans, with potential legal domicile move to the US.
By Mateusz Rabiega
(Reuters) -Aegon said on Thursday it was on track to meet its 2025 targets after strong momentum in the U.S. and a good performance in the international and asset management divisions helped it beat market expectations in the third quarter.
Aegon, which is heavily exposed to the United States through its Transamerica division, recorded significant growth in life insurance sales and retirement plans in the quarter.
Its operating capital generation before expenses edged up to 340 million euros ($397 million) in the period, above analysts' median estimate of 319 million euros.
Its shares were up 1.5% at 0847 GMT.
"We are focused very much on average American families ... 68 million households," CEO Lard Friese told Reuters. "It's an under-served segment of the market, and with more than 90,000 agents, we have great access to those American families."
TURN TO THE U.S.
Following the divestment of its Dutch business to ASR Nederland in a $4.9 billion deal that was closed in 2023, Aegon has been restructuring its business and prioritising U.S. growth.
In late August, the company said that it was considering moving its legal domicile and head office to the United States.
"There are many aspects that we want to discuss with external stakeholders ... but we see that a lot of people see the same logic we're seeing," Friese said.
The company is also in talks with employee organisations, including works council and trade unions, as the move could affect roughly 250 staff at Aegon's corporate centre.
"Should we proceed, it would not mean that we would move all 250 staff to the U.S.," Friese said, adding the exact impact was still under discussion.
The potential move would see Aegon's New York listing become its primary one instead of Amsterdam.
The insurer will announce its decision on the move during its capital markets day on December 10.
($1 = 0.8575 euros)
(Reporting by Mateusz Rabiega in Gdansk; Editing by Matt Scuffham and Milla Nissi-Prussak)
Retirement plans are financial arrangements designed to provide income during retirement, often including pension plans, 401(k)s, and individual retirement accounts (IRAs).
Corporate restructuring involves reorganizing a company's structure or operations to improve efficiency, adapt to market changes, or enhance profitability.
Operating capital generation refers to the process of generating cash flow from a company's core business operations, which is essential for maintaining liquidity.
Domicile in a corporate context refers to the legal jurisdiction where a company is registered and operates, affecting its regulatory and tax obligations.
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