Aegon UK distribution arm posts £5m loss in 2010

Katrina Lloyd
clock

Aegon's UK distribution businesses, including Positive Solutions and Origen, managed to recoup some of 2009's losses last year but were still in the red by £5m.

However, this was an improvement on the £16m loss recorded in 2009, with the pick-up attributed to cost savings and improved market conditions Underlying earnings before tax for the distribution businesses were also in the red at £2m for Q4 2010, lower than the £1m profit recorded in Q3. Nethertheless, the results for the last three months of the year were still up on Q4 2009, when a loss of £8m was reported. In total, Aegon UK reported a loss in underlying earnings before tax of £6m in Q4, including a hit from a £25m customer redress charge. New business fell to £7m as a result of...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Majority of UK wealth management sector eyes acquisitions this year

Majority of UK wealth management sector eyes acquisitions this year

Continued appetite and momentum in M&A space

Isabel Baxter
clock 30 June 2025 • 3 min read
How can firms improve client engagement with wealth products?

How can firms improve client engagement with wealth products?

Consumer first focus; Simplifying prodcut information

James Wood
clock 30 June 2025 • 4 min read
Verso rejects platform incentives model, says adoption must be earned

Verso rejects platform incentives model, says adoption must be earned

Nucleus-built platform rolled out across advice group with no mandated use as consolidator targets £5bn AUM

Sahar Nazir
clock 27 June 2025 • 2 min read