Aegon results hit by market volatility

The company, which has large operations in the Netherlands, US and UK, has attributed the sharp decline to extremely volatile financial markets as well as weaker currencies in both the UK and US. In the UK, net income also plunged in Q1 this year, down 18% to £31m. New single premium life sales fell 18% on the corresponding period last year, from £1.83bn to £1.5bn. However, Aegon UK says the value of new business was up 3% in local currency, while margins continued to improve. UK operating earnings before tax declined 23%, attributed to the impact of lower bond and equity markets on...