Aegon boosts profits; distribution earnings nil

It compares with a combined £1m loss recorded in the first quarter of 2012. Overall, Aegon UK continued its return to profit following a programme of restructuring, in which it aimed at reducing operating costs by 25%. Underlying earnings before tax were £20m in the period, up from £9m in the same period last year, following strong results in its pension business. New life sales were down from £191m in Q1 to £170m, but Aegon said this was in line with expectations. The group said it was attracting platform sales following the launches of its Aegon Retirement Choices and Workplac...