UPDATE 1-Aegon drops after Spruce Point Management report

Reuters12-17

(Adds comments from Aegon, updates share move)

Dec 16 (Reuters) - Amsterdam-listed shares in Aegon

shed around 5% after Spruce Point Management said on Monday "it and/or its clients" have a short position in the Dutch insurer and published a report on its North American unit, World Financial Group $(WFG)$.

The New York-based investment firm said its estimates suggested Aegon's share price could be overvalued, with a potential 25%-50% "long-term downside risk."

Responding to a Reuters request for comment, an Aegon spokesperson said the company had nothing to say at this moment.

Aegon's shares dropped to their lowest price since October. If losses hold, they will see their biggest one-day loss since March 2023.

(Reporting by Alban Kacher and Dimitri Rhodes Editing by Tomasz Janowski)

((alban.kacher@thomsonreuters.com))

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