SCHEDULE 13G/A: Norges Bank Boosts Aegon Stake to 5.6%

Norges Bank, acting on behalf of the Government of Norway, reported a 5.6% beneficial ownership stake in Aegon Ltd, holding 88,813,381 common shares as of December 31, 2025.

Summary

• Norges Bank, the central bank of Norway, reported beneficial ownership of 88,813,381 shares of Aegon Ltd common stock.
• This represents 5.6% of the class of securities.
• The filing date for this Schedule 13G Amendment No. 2 was January 27, 2026, with the event date requiring the filing being December 31, 2025.
• Norges Bank holds sole voting power over 86,853,561 shares and shared dispositive power over 1,959,820 shares, with sole dispositive power over 86,853,561 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Aegon Ltd.
• Certain shares are invested on behalf of the Government of Norway.

Sentiment

Score: 7

Explanation: The filing indicates a significant institutional investment by Norges Bank in Aegon Ltd, which is generally a positive signal of confidence from a major global investor. However, as an ownership disclosure, it does not provide operational or financial performance data to warrant a higher score.

Positives

• Norges Bank, a significant institutional investor, holds a substantial 5.6% stake in Aegon Ltd, indicating institutional confidence.
• The investment is stated to be in the ordinary course of business, suggesting a long-term, passive investment strategy.

Management Comments

• To the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.
• The foreign regulatory scheme applicable to the investment management division of Norges Bank, the central bank of Norway, is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s).

Industry Context

This filing highlights continued institutional interest in Aegon Ltd, an international provider of life insurance, pensions, and asset management. Norges Bank's significant stake underscores the attractiveness of the financial services sector to large, long-term investors, potentially reflecting stability or growth prospects within the industry.

Related Party Transactions

• Certain shares reported are invested on behalf of the Government of Norway.

Stakeholder Impact

• Shareholders: Increased institutional ownership by Norges Bank may be viewed positively, potentially signaling confidence in Aegon Ltd's long-term value.

Key Dates

Recommendation

Based on the significant institutional holding by Norges Bank, indicating confidence in Aegon Ltd, a 'hold' recommendation is appropriate. This filing primarily discloses ownership and does not provide operational or financial performance data to warrant a stronger buy or sell signal.

Keywords

Aegon Ltd, Norges Bank, Schedule 13G, beneficial ownership, institutional investment, common stock, Norway, financial institution, investment adviser