Aegon back in black

AMSTERDAM: Aegon NV, the bailed-out Dutch insurer that owns Transamerica in the United States, yesterday reported a profit for the third quarter, its first since the financial crisis became most acute last fall.

Net profit was 145 million euros ($217 million), compared with a loss of 329 million euros in the same period a year ago.

The company reported 337 million euros in investment losses and impairments in the quarter, compared with 387 million euros a year ago. Aegon said the main reason was lower losses on assets related to the US housing market.