Aegon UK to wind down group risk business

It says it no longer considers its proposition as having "profit potential" or capable of achieving a "sizeable" market presence. Aegon's group risk business provides group life, group critical illness and group income protection products purchased by companies for the benefit of their employees. Group pensions and individual protection business is unaffected. The insurer says it will continue to support existing customers during what it anticipates will be a two-year wind down period, as well as help them manage the process of switching schemes to new providers. "Aegon believes there...