Aegon UK reports life and pensions business down 24%

clock

Aegon UK reports new life and pensions business of £706m for the first nine months of the year, a fall of 24% compared to the same period in 2008.

Value of new business (VNB) for the period also suffered at £29m, down 36% compared with last year. Life and pensions new business volumes slipped 2% to £218m quarter on quarter as lower group pensions new business was partially offset by improved annuity and personal pensions sales Underlying earnings, excluding a £38m exceptional charge for improvements to customer records, were £27m for Q3, up 59% on Q2 and in line with Q3 results last year of £28m. Aegon's asset management business fared better, boosted by two large mandate wins of £227m and £160m, with total new business flows...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Women in leadership: Being authentic is a strength

Women in leadership: Being authentic is a strength

‘Leadership in financial services is a team sport’

Jenna Brown
clock 16 April 2024 • 7 min read
Advisers seeing clients 'stretch finances' to afford private school

Advisers seeing clients 'stretch finances' to afford private school

Parents ‘stretching finances’ to finance private education

Sahar Nazir
clock 16 April 2024 • 1 min read
FCA's Howard: Firms' culture must change to attract female talent

FCA's Howard: Firms' culture must change to attract female talent

‘We need a different and better mix of advisers and advice’

Jenna Brown
clock 16 April 2024 • 4 min read