Strong results 2022, preparations for a.s.r. – Aegon Nederland business combination on track
Jos Baeten, Chairman of the Executive Board and CEO: ‘2022 was an eventful year in many ways. Geopolitical tensions, falling stock markets, and rising interest rates and inflation worldwide left their mark on 2022. Under these circumstances, costs are impacted and provisions are strengthened. In these challenging conditions and events, a.s.r. reports a good year. We continue to deliver on our strategy to create long term sustainable value, which over the past years has proven successful. Our financial and commercial results are strong and our capital position is robust, showing the continued stability and strength of a.s.r.’
'The announcement of the transaction with Aegon, to form a leading insurer in combination with Aegon Nederland, is a memorable event in the 302-year existence of a.s.r., which will add another important milestone to a.s.r.’s rich history. We are confident to be able to close the transaction at 1 July at the earliest and we are making every effort to, from the closing onward, successfully combine the activities of a.s.r and Aegon Nederland in a disciplined manner within the timelines set and the agreements made. We can only achieve this through the efforts of all employees involved. And I am very grateful for the confidence that our customers, intermediaries and shareholders have in a.s.r.'
- Operating result amounted to € 1,039 million (2021: € 1,009 million); the increase of 3.0% is due to improvements in Non-life and Life.
- Operating return on equity is 13.5% excluding the € 0.6 billion share issue (12.8% including the share issue), in line with the target range of 12-14%.
- Solvency II ratio (SF) as at 31 December 2022 stands at 222% (31 December 2021: 196%) after the deduction of the proposed dividend over 2022. The ratio is excluding the € 1 billion Tier 2 hybrid capital issue and including the share issue (16%-points). Both capital issues are related to the financing of the Aegon Nederland transaction.
- Organic capital creation increased by € 59 million to € 653 million (2021: € 594 million). The stronger underlying business performance and lower UFR drag due to higher interest rates was partly offset by lower net capital release due to increased capital strain from higher new business production.
- Proposed dividend over 2022 amounts to € 2.70 per share. This is an increase of 12% compared to the € 2.42 per share over 2021. The final dividend amounts to € 1.72 per share, taking into account the already distributed interim dividend of € 0.98 per share.
