Aegon delivered good results, surpassing expectations with higher-than-expected OCG. As a result, the company has revised its guidance for OCG in FY23 from >€1bn to ~€1.2bn. This will be driven by a strong performance in the U.S., but mainly by non-recurring items. Before the increase to the guidance the company had projected an OCG level of €1.2bn no earlier than 2025. We welcome the growth in the U.S. market, helping to offset the weak performance of the UK retail and AM businesses.