Aegon takes €275m charge

Insurance company Aegon said on Thursday it would make a €420m write-down on its more risky investments, depressing third-quarter earnings by €275m. The announcement was made at a meeting for analysts in London.

Aegon also said it was taking steps to strengthen its capital buffers to insure it maintains its AA rating until at least the end of the year.
Aegon has been under pressure on the Amsterdam bourse for some time where its worth has dropped from €23bn earlier this year to €6.5bn now.
‘In view of the continued deterioration in the current market environment Aegon believes it is prudent to take further steps to maintain a strong capital base to protect the group against a possible further fall in the capital markets,’ the company said in a statement.