Aegon UK earnings up as group unveils £860m rights issue

The announcement comes as the group reveals earnings at Aegon UK soared by £10m in Q2 compared with the first three months of the year, but adds fund-related charges in the firm's pension business mean income remains significantly below 2008 levels. Aegon says it will issue new shares representing up to 10% of its existing share capital to fund the repayment, adding it would save at least EUR 370m (£318m) by making the payment to the state before 1 December. It owes EUR 3bn (£2.6bn) to its largest shareholder, Vereniging Aegon, which is funded by the Dutch government. Vereniging is no...