AMSTERDAM (AP) ? Aegon NV, the Dutch insurer that does most of its business in the US, said second quarter net profit fell by more than 50 percent, due to a charge on its Dutch life insurance business.
Net profit was ?254 million ($314 million), down from ?521 million in the same period a year ago, including the ?265 million charge to bring Dutch "unit-linked" plans into line with their current value.
The company said Thursday "underlying earnings" ? a measure that seeks to strip out asset value reassessments, investment gains and other adjustments to give a clearer picture of the company's operational performance ? was up 2.7 percent to ?337 million.
CEO Alex Wynaendts said in a statement the company, which owns the Transamerica brand, continued to see strong demand in the US.
Source: http://news.yahoo.com/aegon-q2-earnings-cut-half-charge-065942496--finance.html
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