Aegon on Thursday maintained its capital generation forecast for the year, buoyed by continued strong business activity in the US and Brazil.

The Dutch insurer, which also reported net cash inflows in its asset management businesses, generated capital generation of 256 million euros in the first three months of the year.

In its press release, the Group stated that it was well on the way to achieving capital generation of around 1.1 billion euros by 2024.

Aegon also announced its intention to launch a new 200 million euro share buyback program at the beginning of July, with the aim of completing it by the end of the year.

Following these announcements, the share gained 0.7% on Thursday on the Amsterdam Stock Exchange.

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