Aegon, the parent company of World Financial Group (WFG), announced its financial results for the second half of 2025. The company met or exceeded all of its financial targets that were announced in 2023, and WFG’s distribution network grew to more than 95,000 licensed agents. WFG also achieved a record 30% increase in individual new life sales in 2025, as compared to 2024.
Aegon net revenue was $441 million, down from $871 million in the second half of 2024, which the company attributed to non-operating items and charges offsetting growth in operations. Full-year 2025 net revenue was $1.1 billion, a 45% year-over-year increase.
Revenue from operations was up 11% year-over-year, driven by an increase across all business units and reflecting commercial momentum and favorable financial markets. Operating revenue for the full-year 2025 period was $2 billion, a 15% improvement over 2024.
Free cash flow in the six-month period was $456 million, contributing to a full-year cash flow of $975 million. Dividends for 2025 saw an increase of 11% year over year.
“Our results for 2025 demonstrate the strength of our strategy and our ability to consistently deliver upon our ambitions,” said Lard Friese, Aegon CEO. “In the US, commercial momentum remained strong. Transamerica expanded its distribution network, World Financial Group (WFG), to over 95,000 licensed agents, and, at the same time, achieved a record 30% increase in individual new life sales in 2025 compared with 2024. Assets under administration at Transamerica’s Retirement Plans business also increased. At the same time, the capital employed by Transamerica’s Financial Assets decreased to USD 2.7 billion, ahead of our USD 2.9 billion target for 2025. This gives us confidence that our plans have a robust foundation as we work to further accelerate growth in our US business. We also reported solid results in our other business units. Our asset management business delivered EUR 1.0 billion in net third-party inflows in 2025, while our international business continued to perform well, and, in the UK, our Workplace Platform generated GBP 2.4 billion in net inflows. We are now fully focused on delivering upon the plans we outlined at our 2025 CMD, including the relocation of our head office and legal seat to the US. I am confident that we can build upon the strong momentum we created during 2025 and continue to accelerate the growth of our businesses throughout the coming year.”
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