Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Portfolio > Economy & Markets

AEGON Lowers Earnings Expectations

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, July 22, 1:36 p.m. – AEGON N.V., The Hague, Netherlands, estimates its full-year 2002 earnings will be about 30% lower than it predicted in early May because of the recent wave of bond defaults, the weakness of world stock markets and the weakness of the U.S. dollar.

Earlier, AEGON said it hoped to report the equivalent of about $2.4 billion in profits for the year.

“I want to emphasize that during the past few months our base business remained good,” AEGON Chairman Don Shepard says in a statement about the revised earnings forecast. “We are well-positioned for the future and our solvency position remains good.”

AEGON will publish its second-quarter earnings Aug. 8.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.