AEGON UK has reported a solid first quarter performance with life and pensions new business profitability increasing by 3pc, despite the more challenging market conditions.
Whilst the number of new business policies remained the same as last year, the value of new business rose by 3pc. Earnings fell by 23pc compared with the same period, however, reflecting the weaker stockmarket levels. The corporate pension business had a strong first quarter, with new business increasing by 22pc compared with the Q1 2007, as a result of an increase in the number of new group personal pensions. Within the individual business, AEGON's key development areas saw continued growth. Individual annuities new business rose by 13pc to £342m single premium. Individual protection i...
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