The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Fantastic. On Slide 30, you saw the base assumption. So I just wondered what's the sensitivity of that VA book the main metrics to the interest rates
because we're now higher than the interest rate in the U.S. And the other question is on U.S. mortality. I think you've got $1 trillion total exposure.
REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us
consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.
MAY 12, 2022 / 7:00AM, AEGN.AS - Q1 2022 Aegon NV Earnings Call
I was just wondering if you can give a little bit of color to that which portfolio is it is in the VA? Or is it in University Life? And how should we expect
it to affect means not worst-case scenarios, would be unmanageable. But relative to what you've seen in Q1 also last year, how would you view
the emergence of those that mortality with compared to the original assumption of 2020?
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Maybe you can give -- just the figure would be really helpful, maybe just the reserve figure?
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Yes.
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: And that's the exposure liability reserve?
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: And how much of that's related to just mortality?
Question: Steven Haywood - HSBC, Research Division - Analyst
: Two questions on your variable annuity plan or potential plan to come. So is there a preference for doing transactions with third parties or any
particular portfolio of VA in GMWB, GMDB or GMIB? And did third parties actually have a preference for taking on particular portfolios. I don't know
whether there's been a majority of GW -- sorry GMWB transactions in the market or a different portfolio. I'm just trying to gauge what is the appetite
in the U.S. third-party providers to do these transactions?
And then secondly, you mentioned that the operating cash generation of the book is around $150 million to $200 million. That's 10% to 15% of
your total operating capital generation. If you're thinking about a potential disposal amount, does that disposal amount to make it an economic
attractive deal for you include the potential capital release or is it just on the loss of OCG. That makes sense?
| 
