Aegon (NYSE:AEG) has released its trading update for the first quarter of 2024, demonstrating continued financial strength and strategic progress.

The company reported an operating capital generation of €256 million, keeping it on track to meet its annual guidance of approximately €1.1 billion for the year.

The insurer's capital ratios have maintained robust levels, consistently staying above the required operating thresholds.

Furthermore, Aegon's cash capital at the holding remains strong at €2 billion, reflecting an 85% completion of its ongoing €1.535 billion share buyback program.

Building on this financial robustness, Aegon announced a new €200 million share buyback program, which it expects to complete by the end of 2024.

This move underscores the company's confidence in its financial health and commitment to delivering value to shareholders.

In a strategic shift, Aegon has amended the reporting structure of its US business to better align with the strategy outlined at the Capital Markets Day in June 2023.

This restructuring aims to enhance transparency and focus on strategic growth areas.