v3.26.1
Subordinated borrowings
12 Months Ended
Dec. 31, 2025
Disclosure of Subordinated Liabilities [line items]  
Subordinated borrowings
27 Subordinated borrowings
 
       Coupon rate        Coupon date       
Issue /
  Maturity
 
 
    
Year of next
call
 
 
  
 
   2025
 
        2024  
Fixed to floating subordinated notes
                 
USD 800 million
     5.5%
2
      
  Semi-annually, April 11
       2018/
48
       2028        680        770  
Fixed subordinated notes
                 
USD 925 million
1
     5.1%        Quarterly, March 15        2019/
49
       2026        781        883  
On December 31
                                      
 
1,461
 
  
 
1,653
 
Fair value of subordinated borrowings
                                      
 
1,312
 
  
 
1,490
 
 
1
 
Issued by a subsidiary of, and guaranteed by Aegon Ltd.
2
 
The coupon is fixed at 5.5% until the first call date in 2028 and floating thereafter with a
6-month
USD LIBOR (subject to US LIBOR Act) plus a margin of 3.539%.
These securities are subordinated and rank senior to the junior perpetual capital securities and the perpetual contingent convertible securities, equally with the perpetual cumulative subordinated bonds and junior to all other liabilities. The terms of the securities include provisions for deferring coupon payments. There have been no defaults or breaches of conditions during the period.
Aegon Ltd. [member]  
Disclosure of Subordinated Liabilities [line items]  
Subordinated borrowings
17 Subordinated borrowings
 
Fixed to floating subordinated notes
     Coupon rate        Coupon date        Issue/
Maturity

 
     Year of next
call
 
 
  
 
    2025
 
         2024  
USD 800 million
     5.5%
1
      
Semi-annually, April 11
       2018/
48
       2028        680        770  
             
On December 31
                                      
 
680
 
  
 
770
 
Fair value of subordinated borrowings
                                         692        763  
 
1
 
The coupon is fixed at 5.5% until the first call date in 2028 and floating thereafter with a
6-month
USD LIBOR (subject to US LIBOR Act) plus a margin of 3.539%.
These securities are subordinated and rank senior to the junior perpetual capital securities and the perpetual contingent convertible securities, equally with the perpetual cumulative subordinated bonds and junior to all other liabilities. The terms of the securities include provisions for deferring coupon payments. There have been no defaults or breaches of conditions during the period.