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UPDATE 1-Insurer ASR's profit rises on growth in life and non-life segments [Reuters]

AEGON N.V. (AEG) 
US:NYSE Investor Relations: aegon.com/investors
Company Research Source: Reuters
Operating earnings rose 1.4% to 460 million euros ($499.6 million) in the first six months of 2023, from 454 million a year earlier. The group's Solvency II ratio, a measure of insurers' capital strength under the EU risk-measurement rules, amounted to 215% at the end of June, exceeding analysts' expectations of 212% in a poll compiled by the company. ASR, which in July closed the deal to acquire peer Aegon's Dutch business, said the process to combine the businesses was on track. “The next step is the legal merger of the two entities. This is scheduled for 1 October this year at the earliest,” ASR's chief executive Jos Baeten said in a statement. “After that, we can start the actual integration of activities,” he added. The company expects to provide an update on the combination process by the end of 2023. Aegon in July said it had received 2.2 billion euros in cash proceeds and a 29.99% stake in ASR. ($1 = 0.9208 euros) (Reporting by Laura Lenkiewicz in Gdansk; Editing by Show less Read more
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