Aegon Earnings: Long-Awaited Growth Arrives in the Quarter

Aegon has reported financial activity during the first quarter of 2023. We think the main takeaway from these numbers is growth. New life sales of individual business in the U.S. have risen from $94 million to $113 million in individual solutions. Correspondingly, the number of Aegon's licensed agents has risen by 10,000. Sales within the U.S. workplace business have risen strongly at $2.550 billion for the first three months versus $1.273 billion in the prior-year period. That strong growth has come from midmarket retirement plans as net deposits have gained traction to $932 million. Retail net deposits in the U.K. have swung to the negative.