Operating result was EUR 804 million, up 9% compared with the first half of 2025, reflecting strong commercial momentum and favorable financial markets.
Valuation equity – the sum of shareholders’ equity and the contractual service margin (CSM) after estimated tax adjustment – per share was EUR 9.42; an increase of 4% in the reporting period, driven by healthy business growth whilst returning a significant amount of capital to shareholders.
According to the report, the company is on track to meet or exceed all Group financial ambitions for 2026.
Operating capital generation (OCG) after holding funding and operating expenses increased by 27% to
EUR 416 million compared with the first half of 2025. Free cash flow was EUR 392 million, compared with EUR 442 million for the first half of 2025, as Aegon UK remittance is now excluded. Capital ratios of Aegon’s main units remain strong, above their respective operating levels. Cash Capital at Holding was EUR 1.7 billion remains above the operating range.
Ongoing second-half 2026 share buyback program increased by EUR 150 million, to a total of EUR 350 million, consistent with the objective to reduce Cash Capital at Holding to around EUR 1.0 billion by year-end 2026. And 2026 interim dividend was EUR 0.21 per common share, an increase of 11% compared with 2025 interim dividend.
“In the first half of 2026, we continued to grow our businesses, delivered robust financial results and progressed at pace with our planned relocation to the US. These results demonstrate our strategy is gaining momentum and reinforce our confidence in the ambitions outlined at our 2025 Capital Markets Day”, said Lard Friese, Aegon CEO.
“Our performance in the first half reflects the dedication of our people, the momentum in our strategy, and our disciplined capital management. We are announcing an interim dividend of 21 eurocents per share, up 11% versus the prior year period. Supported by our strong capital position and confidence in the outlook for our businesses, we are also increasing our recently announced share buyback program by EUR 150 million to EUR 350 million. Our businesses are well capitalized and we are on track to meet or exceed our Group financial ambitions for 2026”, Aegon CEO concluded.
Full report can be found here.
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