Aegon Net Profit Rises On Higher Earnings and Fair Value Items

By Carlo Martuscelli Features Dow Jones Newswires

Aegon NV (AGN.AE) said Thursday that net income in the third quarter increased 31%, driven by higher revenue and fair value items.

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The financial company posted net income of 469 million euros ($543.8 million) for the third quarter, up from EUR358 million a year earlier. Sales were up 53% to EUR4.45 billion, it added.

The company said that the increase in income was driven by increases in underlying earnings--which were up 20% on year--as well as fair value items.

Aegon said it made a gain from fair value items totaling EUR159 million as a result of positive real-estate evaluations in the Netherlands and the U.S., as well as hedging gains in the U.S.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

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November 09, 2017 02:15 ET (07:15 GMT)