Aegon insurance company is losing millions again

Insurance company Aegon suffered another loss in the first half of this year. The net loss amounted to 199 million euros, Aegon reported Thursday. Previously announced investments in US activities caused the red numbers, according to Egon. Last year, Aegon also suffered a significant loss and the company was about €2.5 billion in the red at the bottom of the line. In the first half of last year, the company recorded a positive net result of €46 million.

Since then, Aegon has sold its Dutch insurance activities to ASR. The acquisition was completed in July, but the insurance company continued to use the Aegon name through the first half of the year. Losing billions last year was due to this sale. The full integration of Aegon’s insurance activities into ASR is expected to be completed by 2026 at the latest. The merger created one of the largest insurance companies in the Netherlands.

The insurance company announced two months ago that Egon wanted to focus fully on growth in the US. The US subsidiary, called Transamerica, should expand from the company.