Aegon NV (AGN.AE) stated Thursday that internet profit for the fourth quarter of 2017 elevated considerably because of a $554 million achieve from U.S. tax reform.
For the quarter ended Dec. 31 the Dutch insurer stated internet profit was 986 million euros ($1.23 billion) in contrast with EUR470 million a yr earlier.
Sales within the interval elevated to EUR3.89 billion from EUR2.73 billion the earlier yr, it stated.
The Amsterdam-listed firm raised its remaining dividend to EUR0.14 from EUR0.13 final yr, bringing the full-year dividend to EUR0.27, up from EUR0.26.
Aegon’s Solvency II ratio, a measure of the corporate’s capability to satisfy its monetary obligations, rose to 201% from 195% within the quarter. The firm stated a robust enterprise efficiency and divestments greater than offset antagonistic impacts within the interval.
Aegon estimates that its U.S. company tax price in 2018 will fall to about 16% to 18%. This is predicted to extend 2018 internet underlying earnings by $140 million.
The U.S. tax regulation handed in December features a discount of the corporate-tax price to 21% from 35% and limits on the deductibility of company curiosity funds.