Aegon individual pension sales rise 69%

In its first quarter figures the insurer reveals the VNB rose 77% to £39m compared with the same period in 2006, while operating earnings increased by 19% to £44m over the first three months of the year. It says it has seen particular growth in the life and pensions market, which rose 37% on a year-on-year basis to £297m on an API basis – which is new annual premiums plus one-tenth of new single premiums. Aegon suggests the effects of pensions simplification is continuing to drive business in the individual pensions sector, which grew 69% to £106m, while group pensions new business saw a...