Nov 16 Reuters Dutch Insurer Aegon raised its fullyear capital generation forecast on Thursday, driven by a strong performance in the U.S. market.

The company expects operating capital generation from its units to be around 1.2 billion euros 1.30 billion this year, versus a prior target of more than 1 billion.

It had previously said it expected to reach the 1.2 billion euro threshold in 2025.

CEO Lard Friese underlined continued commercial momentum in the U.S in a quarterly earnings statement.

Aegon has been simplifying its corporate structure by selling Central and Eastern European businesses while focusing on its U.S. operations, mainly through the Transamerica brand that focuses on retirement solutions, investments and life insurance.

The company aims to accelerate its growth and become America39;s leading middle market life insurance and retirement company, Aegon said.

In July, the Dutch group closed a deal to sell its domestic insurance operations to local peer ASR for 4.9 billion euros in cash and shares. Through the deal, ASR replaced Aegon as the country39;s secondlargest insurer.

1 0.9228 euros

Reporting by Gaelle Sheehan and Victor GouryLaffont in Gdansk; editing by Milla Nissi

Source Reuters