Aegon blames RDR for £4m results hit

It reported an increase in underlying earnings before tax to £20m due to cost saving measures, but said this was partially offset by £4m "negative effect from adverse persistency" down to advisers doing less business in the run up to the RDR. Its new life and pension sales were £163m, in line with expectations. Aegon UK chief executive Adrian Grace said the results were "solid" considering the current environment which has been focused on the RDR. He said: "We have made some bold decisions that have transformed the UK business by focussing on the key markets of at-retirement and wo...