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
: I have 2 questions. 2.5, so maybe I will cut it to 2. The first one is on mortality. So I think in the budget, there was EUR 75 million less in the second
half, but the mortality trends at the moment are positive. I just wondered if you can say the -- how you see the balance of charges in the second
half.
And the second is we have these one-off items in the net profit level, EUR 192 million for reinsurance and EUR 159 million for various assumption
changes relating to North America. I just wondered whether you can give a little bit more color as to what this relates to. Is it hedging costs or
claims rates or mortality or, I don't know, it's just interesting. These are amazing numbers. And please, can we have more buybacks? Sorry. Sorry.
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: That's really helpful.
Question: Steven Haywood - HSBC, Research Division - Analyst
: On the Netherlands, you mentioned the sale of bonds to protect liquidity position in rising rates. Can you explain what's going on here? Do you
anticipate higher redemptions, so your liquidity had to be higher than it was at the end of the first quarter? Or is the Dutch business remitting too
much upfront and waiting for actual cash to come out of the business over time?
I mean selling the bonds will obviously lower your operating capital generation from the Dutch business. Is this material? Can you give us an
indication? And obviously, selling the bonds have increased your Solvency II ratio in the Netherlands. How much was that contribution to the
Solvency II ratio increase versus other model updates here?
And then secondly, just a quick one, if you can. How much of the free cash flow and OCG increase in outlook comes from foreign exchange moves
to the U.S. dollar increasing significantly?
Question: Steven Haywood - HSBC, Research Division - Analyst
: I had one question on the U.S. dollar strengthening.
REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us
consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.
AUGUST 11, 2022 / 7:00AM, AEGN.AS - Q2 2022 Aegon NV Earnings Call
Question: Steven Haywood - HSBC, Research Division - Analyst
: Could you just say again what the run rate of the Netherlands OCG was?
|
