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 (EURO)254 million ($314 million), down from (EURO)521 million in the same period a year ago, including the (EURO)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 (EURO)337 million.
CEO Alex Wynaendts said in a statement the company, which owns the Transamerica brand, continued to see strong demand in the US.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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