- metadata: - source: https://www.reuters.com/business/finance/aegon-q3-operating-result-down-16-us-covid-linked-claims-2021-11-11/ --- # Aegon, other insurers hit by U.S. COVID-19 deaths in third quarter | Reuters > ## Excerpt > Dutch insurer Aegon NV reported a 16% fall in third- quarter operating profit on Thursday due to higher COVID-19 related mortality claims in the Americas, the latest European insurer to suffer from new waves of the pandemic. --- A banner asking patients to wear a mask is seen at the entrance of the ER area at Holy Cross Hospital, amid an outbreak of coronavirus disease (COVID-19), in Fort Lauderdale, Florida, U.S., April 20, 2020. REUTERS/Marco Bello/File Photo ###### Register now for FREE unlimited access to Reuters.com AMSTERDAM, Nov 11 (Reuters) - Dutch insurer Aegon NV [(AEGN.AS)](https://www.reuters.com/companies/AEGN.AS)reported a 16% fall in third- quarter operating profit on Thursday due to higher COVID-19 related mortality claims in the Americas, the latest European insurer to suffer from new waves of the pandemic. Aegon, which does two-thirds of its business in the United States, said "unfavourable mortality claims" in the Americas in the third quarter were $111 million, up from $31 million a year earlier. "Performance improvements across most of our businesses ... were offset by elevated mortality in the United States," Aegon Chief Executive Lard Friese in a statement. ##### Register now for FREE unlimited access to Reuters.com Among other European insurers, Swiss Re [(SRENH.S)](https://www.reuters.com/companies/SRENH.S)said its life and health division incurred "significantly higher COVID-19 related claims of $1.2 billion" in the first nine months of 2021 "primarily originating in the U.S.". CEO John Dacey cited U.S. spikes in February and August. Munich Re also saw a higher than expected COVID impact in its results earlier this week. U.S. firm MetLife [(MET.N)](https://www.reuters.com/companies/MET.N)was hit at its domestic life operations in generally strong third-quarter earnings. [read more](https://www.reuters.com/business/finance/insurer-metlifes-quarterly-profit-beats-rebound-investment-income-2021-11-03/) It said that in the third quarter, 40% of U.S. COVID-19 deaths were of people under 65 years old, "the highest percentage in any quarter since the pandemic began". In a note, S&P Global Ratings said that the world's biggest reinsurance companies bear the lion's share of COVID-19 losses as they have "triple exposure" through Property & Casualty and Life reinsurance businesses, as well as through primary P&C businesses. Aegon's 443 million euros ($512 million) operating profit for July-September compared a forecast of 490 million euros in a poll of analysts compiled by Aegon. Friese added Aegon's fee and investment income were up and the company was meeting other performance targets. Aegon shares, which were up 34% this year at their 4.31 euro close on Wednesday, were down nearly 2% at 4.228 euros at 1135 GMT on Thursday. ($1=0.8648 euros) ##### Register now for FREE unlimited access to Reuters.com Reporting by Toby Sterling, Tom Sims, Carolyn Cohn; Editing by Alexander Smith, Andrei Khalip Our Standards: [The Thomson Reuters Trust Principles.](https://www.thomsonreuters.com/en/about-us/trust-principles.html)