Aegon Ltd

AGN: XAMS (NLD)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Aegon Earnings: Operationally Quite Sound Masked by Market Impacts and Solvency

Henry Heathfield

Feb 19, 2026

Aegon has reported what we think are by and large decent numbers for full-year 2025. They are not wholly operationally positive, but they do show the business is making solid progress.

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Aegon Ltd

Aegon Earnings: Operationally Quite Sound Masked by Market Impacts and Solvency

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