7.3.2Changes in presentations

The current presentation differs from last year’s presentation as recognised in the 2023 financial statements, primarily following the sale of Knab, further harmonisation between a.s.r. and Aegon NL and the refinements related to the implementation of IFRS 17 and IFRS 9. These immaterial (on a qualitative basis) changes in presentation have no impact on a.s.r.'s past or future financial position, financial performance, or cash flows from operating, investing and financing activities.

The following restatements, given their nature, are explained in more detail:

Reclassification of Knab to discontinued operations

On 1 February 2024, a.s.r. reached an agreement to sell Knab to the BAWAG Group AG. Closing of the transaction took place on 1 November 2024. Knab's results have therefore been reclassified from continuing to discontinued operations, in line with the requirements of IFRS 5. This reclassification has resulted in a single amount of 82 million presented as result after tax from discontinued operations in the 2023 consolidated income statement and 7 million presented as other comprehensive income after tax from discontinued operations in the 2023 consolidated statement of comprehensive income. For further details, please refer to section 7.4.6.

Changes to the presentation of the Consolidated statement of cash flows:

Due to a reassessment of the presentation of the cash flow statement in 2024, the 2023 comparative figures for the cash flows from operating activities were adjusted for the revaluation through profit or loss (357 million) as part of the adjustment for non-cash items included in the result, with a corresponding opposite adjustment in the changes in operating assets and liabilities.

Cash collateral

The presentation of cash collateral paid (2023: €2.3 billion) has been changed to align more with industry practice and is included in other assets and not in investments.

Harmonisation between a.s.r. and Aegon NL

Following further alignment of methodologies and application of policies with Aegon NL, selected comparative figures have also been restated to ensure consistency and comparability. These restatements are part of the ongoing harmonisation process and reflect the integration of Aegon NL into a.s.r.’s financial reporting framework.