Aegon Q4 Net Profit Surges

reported a surge in its net profit for the fourth quarter. Aegon's quarterly attributable net income gained to 399 million euros ($454.3 million), versus a year-ago profit of EUR155 million. Its underlying pretax profit climbed 19% to EUR562 million. Underlying earnings from the Americas climbed 23% to EUR 367 million, while underlying earnings from its operations in the United Kingdom jumped 45% to EUR 29 million. Underlying earnings in the Netherlands climbed 39% to EUR 172 million, while underlying earnings from New Markets shrank to EUR33 million. Sales rose to 2.117 billion euros versus 1.741 billion euros. New life sales surged 9% to 523 million euros. The company's board declared a final dividend of EUR0.12 per share. Alex Wynaendts, CEO said, "Aegon's strong fourth quarter results complete a solid year for the company, in what continues to be a challenging environment with persistent low interest rates and market volatility. Higher sales and earnings this quarter evidence the strength of our franchise and the continued trust of our customers." Aegon shares rose 0.80% to close at $7.58 yesterday.