Berenberg Upbeat on Aegon's Growth Amid Planned US Move, Potential Long-term Care Exit

05:03 AM EDT, 08/24/2026 (MT Newswires) -- Berenberg is optimistic on Aegon (AGN.AS) business growth following the company's first-half results, highlighting its "attractive" valuation amid its planned relocation to the US and potential exit from the long-term care business line. "We believe that Aegon's H1 2026 results increasingly reflect the group's 1 January 2028 timetable to move to the US for its main stock market listing. We think that the move is positive as it will lead to increased passive demand for its stock, up from our estimate of c15% currently to just below 30%, and that it means the group will focus even more than it does now on the factors that make insurers attractive to US domestic investors," the research firm said in a note released Monday. "We believe that these factors include strong, sustainable top-line growth and the elimination of low-growth legacy operations - businesses that Aegon calls financial assets, and which include long-term care (LTC)." Analysts noted the Dutch insurer's 54% annual growth in US new individual life sales and 45% surge in new business strain to $583 million in the first half as positive indications of its progress toward its US listing and ability to fund high new business growth. The buy recommendation on the stock and 9.37-euro price target remain unchanged.