Aegon UK reports life and pensions business down 24%

Value of new business (VNB) for the period also suffered at £29m, down 36% compared with last year. Life and pensions new business volumes slipped 2% to £218m quarter on quarter as lower group pensions new business was partially offset by improved annuity and personal pensions sales Underlying earnings, excluding a £38m exceptional charge for improvements to customer records, were £27m for Q3, up 59% on Q2 and in line with Q3 results last year of £28m. Aegon's asset management business fared better, boosted by two large mandate wins of £227m and £160m, with total new business flows...