Investments (Tables)

12 Months Ended

Dec. 31, 2025

Text block 1 [Abstract]

Summary of Investments for General Accounts Comprise Financial Assets Excluding Derivatives And Investments in Real Estate



		Insurance contracts								Investment contracts with DPF				Non-Insurance related				Total

2025			Direct part.				Without direct part.				Direct part.

FVOCI – with recycling			-				41,100				-				8,647				49,747

FVOCI – no recycling			-				9				-				1				10

Amortized cost			-				7,443				-				2,276				9,719

FVPL – designated			109,580				1,637				21,441				85,222				217,880

FVPL – mandatory			-				6,207				-				1,098				7,306

Total financial assets (excl. derivatives)			109,580				56,397				21,441				97,244				284,662

Investments in real estate			217				42				132				87				479

Total investments			109,798				56,439				21,573				97,331				285,141

2024

FVOCI – with recycling			-				46,719				-				7,958				54,677

FVOCI – no recycling			-				38				-				1				39

Amortized cost			-				8,220				-				2,425				10,645

FVPL – designated			117,167				1,926				23,687				77,400				220,180

FVPL – mandatory			-				6,690				-				970				7,661

Total financial assets (excl. derivatives)			117,167				63,593				23,687				88,754				293,202

Investments in real estate			237				57				150				70				514

Total investments			117,405				63,651				23,837				88,823				293,716

Summary of Financial Assets Excluding Derivatives

19.1 Financial assets, excluding derivatives, by measurement category



Investments - Aegon risk 2025		FVOCI (with recycling)				FVOCI (no recycling)				Amortized cost				FVPL (designated)				FVPL (mandatory)				Total				Fair value

Shares			-				10				-				-				263				273				273

Debt securities			47,411				-				36				1,123				1,315				49,884				49,884

Money market and other short-term investments			2,308				-				-				146				1,722				4,176				4,176

Deposits with financial institutions			-				-				11				-				-				11				11

Loans			-				-				9,672				82				-				9,754				8,985

Other			28				-				-				716				4,005				4,749				4,749

Total			49,747				10				9,719				2,066				7,306				68,848				68,078

2024

Shares			-				39				-				-				279				317				317

Debt securities			52,211				-				36				1,400				985				54,632				54,632

Money market and other short-term investments			2,435				-				-				157				1,939				4,531				4,531

Deposits with financial institutions			-				-				11				-				-				11				11

Loans			-				-				10,598				82				-				10,680				9,462

Other			31				-				-				718				4,458				5,207				5,207

Total			54,677				39				10,645				2,356				7,661				75,377				74,159

In both 2025 and 2024, no significant transactions took place with respect to shares recognized at FVOCI. No dividends were received during 2025 (2024: 0).



Investments - Policyholder risk		2025				2024

Shares			15,321				15,198

Debt securities			6,318				6,259

Money market and other short-term investments			1,788				1,541

Unconsolidated investment funds			190,671				192,775

Deposits with financial institutions			1,716				2,052

Total			215,814				217,824

Summary of Investments in Real Estate

19.2 Investment properties



		2025				2024

On January 1			514				488

Additions			9				24

Subsequent expenditure capitalized			3				3

Disposals			(39	)			(34	)

Fair value gains/(losses)			18				10

Transfers to other headings			1				-

Net exchange differences			(28	)			23

On December 31			479				514

Value of Aegon’s properties, which were appraised in the current year			96%				100%

Appraisals performed by independent external appraisers			91%				96%