Shares in Aegon fell after the Dutch insurance and asset-management company said that Duncan Russell would step down as chief financial officer.

In early morning European trading, shares were down 3% at 7.79 euros. Year to date, shares have risen slightly more than 17%.

Russell is set to leave Aegon in April 2027, in line with the company's plan to transfer of its head office and legal base to the U.S., it said. The company has started looking for his successor.

Russell's departure would generate some short-term uncertainty as he was a strong finance chief, J.P. Morgan analysts said in a note to clients. "While we are not totally surprised by this, this could slightly overshadow otherwise strong operating results."

In the first half of the year, Aegon's operating profit rose 9% to 804 million euros ($939 million), supported partly by robust commercial momentum,and the company said it plans to raise its current 200 million-euro share buyback program by 75%.