See accounting policy C.
| | 31 December 2024 | 31 December 2023 |
|---|---|---|
| Goodwill | 233 | 234 |
| Other intangible assets | 359 | 415 |
| | | |
| Total intangible assets | 592 | 649 |
| | Goodwill | Other intangible assets | Total 2024 | Total 2023 |
|---|---|---|---|---|
| Cost price | 246 | 477 | 723 | 738 |
| Accumulated amortisation and impairments | -13 | -118 | -131 | -89 |
| At 31 December | 233 | 359 | 592 | 649 |
| | | | | |
| At 1 January | 234 | 415 | 649 | 322 |
| Acquisition | - | 5 | 5 | 5 |
| Amortisation and impairments | - | -50 | -50 | -43 |
| Transfer | -3 | 5 | 1 | - |
| Changes in the composition of the group | 3 | -16 | -13 | 364 |
| At 31 December | 233 | 359 | 592 | 649 |
Changes in the composition of the group relates to the sale of Knab in 2024, see section 7.4.6. In 2023, changes in the composition of the group related to the intangible assets (mainly customer relationships, trade names and software) acquired through the acquisition of Aegon NL.
Goodwill
For the purpose of impairment testing, goodwill is allocated to the CGU's of the relevant operating segment.
| | 31 December 2024 | 31 December 2023 |
|---|---|---|
| Non-life | 16 | 16 |
| Life | 43 | 43 |
| Asset Management | 35 | 35 |
| Distribution and Services | 139 | 140 |
| | | |
| Total goodwill | 233 | 234 |
Goodwill has an indefinite useful life and is not amortised. a.s.r. performs an impairment test annually, or more frequently if events or circumstances warrant so, to ascertain whether goodwill has been subject to impairment.
For the CGU's within the Non-life, Life, Asset Management and Distribution and Services segments, the results of these tests, using updated multiples and discount rates, show excess recoverable values over the book values and no goodwill impairment is recognised. A deterioration within reasonable limits on one of the assumptions in isolation would not lead to an impairment. The buffer is also capable of absorbing a combination of negative factors. However, should circumstances on multiple factors deteriorate significantly, it could lead to a negative outcome for the buffer (the difference between the recoverable value and the book value).
In 2023, for one CGU within the Distribution and Services segment an impairment loss on the goodwill was charged to the income statement amounting to € 13 million.
Other intangible assets
The other intangible assets mainly relate to Aegon NL, Distribution and Services, a.s.r. IORP and Loyalis, and mainly consist of customer relationships, trade names and software. The other intangible assets are amortised straight-line over their useful life, which is determined individually (between 3 and 20 years). The amortisation charges on other intangible assets are recorded in the operating and other expenses (see section 7.6.11).