v3.26.1
Capital management and solvency (Tables)
12 Months Ended
Dec. 31, 2025
Text block 1 [Abstract]  
Summary of Capital Ratios of Aegon's Operating Units
Capital ratios of Aegon’s main operating units
 
    
 
 December 31, 2025 
1
 
      December 31, 2024  
US RBC ratio
     424%        443%   
Scottish Equitable Plc Solvency UK ratio
     183%       186%  
 
1
 
The capital ratios are estimates and are not final until filed with the respective supervisory authority.
Summary of Composition of Available Own Funds Across Tiers The Eligible Own Funds equal the Available Own Funds after applying any Own Funds eligibility restrictions.
 
    
 
 December 31, 2025 
1
 
      December 31, 2024  
Group Eligible Own Funds
     11,901        14,030   
Group SCR
     6,464       7,466  
Group solvency ratio
2
  
 
184%
 
    188%  
 
1
 
The solvency ratios are estimates and are not final until filed with the respective supervisory authority.
2
 
Including our share of a.s.r. Excess of Assets over Liabilities (minus own shares and minus minority interests) and SCR in our Group Solvency numbers.
Summary of Composition of Total Capitalization and Calculation of Gross Financial Leverage Ratio
The following table shows the composition of Aegon’s total capitalization, the calculation of the gross financial leverage ratio and its fixed charge coverage:
 
     
     Note
    
    2025
         2024  
Total shareholders’ equity
  
 
25
  
     7,432         7,215   
Non-controlling
interests and share options not yet exercised
  
 
26, SOFP
1
 
     186        221  
CSM after tax
  
 
29
 
     6,277        6,975  
Adjusted valuation equity
           
 
13,896
 
  
 
14,411
 
Perpetual contingent convertible securities
  
 
26
 
     500        500  
Junior perpetual capital securities
  
 
26
 
     923        923  
Perpetual cumulative subordinated bonds
  
 
26
 
     454        454  
Subordinated Borrowings
  
 
27
 
     1,461        1,653  
Trust pass-through securities
  
 
28
 
     99        113  
Currency revaluation other equity instruments
2
              24        52  
Hybrid leverage
     
 
3,461
 
  
 
3,695
 
Senior leverage
  
 
31 
3
 
  
 
1,389
 
  
 
1,507
 
Total gross financial leverage
           
 
4,850
 
  
 
5,201
 
Total capitalization
           
 
18,746
 
  
 
19,612
 
Gross financial leverage ratio
     
 
25.9%
 
  
 
26.5%
 
Fixed Charge Coverage
           
 
7.5 x
 
  
 
6.4 x
 
 
1
 
Non-controlling
interests are disclosed in the consolidated statement of financial position.
2
 
Other equity instruments that are denominated in foreign currencies are, for purpose of calculating hybrid leverage, revalued to the
period-end
exchange rate.
3
 
Senior debt for the gross financial leverage calculation also contains swaps for an amount of EUR (7) million (2024: EUR (26) million).