Aegon UK has seen its new business sales rise again as a result of changes to A-Day, but distribution division Positive Solutions is named among assets which collectively are listed as operating at a loss, according to the latest figures.
New business statistics for the first nine month of 2006 reveal Aegon UK’s operating earnings before tax have grown by 41% from £81m to £114m, aided mainly by a growth in “life for account of policyholders” business - up 10% - and an improvement to their off balance sheet products such as asset management and intermediary distribution. However, off balance sheet products - which are said to cover distribution such as Positive Solutions, fees earned at Aegon Asset Management and several other elements of the group business not specifically named - are effectively operating at a loss as the...
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