Duncan Russell

“I will walk you through the financial results for the first half of 2026, starting on slide eight. We've announced a robust set of financial results.”

“I will zoom in on our second half 2025 results, starting on Slide 7. The operating results increased by 11% year-on-year to EUR 858 million, with all of our businesses delivering higher figures.”

“Let me start with an overview on Slide 7. In the first half of 2025, the operating results increased by 19% year-on-year, mostly reflecting an improvement at Transamerica.”

“Let me start with an overview on Slide 6. Operating capital generation before holding, funding and operating expenses was €267 million, an increase of 4% year-on-year.”

“Let’s turn to Slide 8 for an overview of our financial performance. In the second half of 2024, the IFRS operating result increased by 14% compared to the prior year period, mostly driven by the Americas reflecting business growth in all three strategic asset segments.”