Aegon books fall in Q1 profits

Insurance group Aegon booked an almost 20% decline in net profit over the first three months of this year. Net earnings totalled €462m over the period – analysts had estimated profit would reach €631m.

Aegon said the lower earnings are due to the poor performance of its investment portfolio but added that sales of new products are promising. ‘Underlying developments remain strong,’ chairman Don Shepard said.

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