Aegon has sold £3bn of its UK annuity portfolio, covering 27,000 clients, to rival firm Legal & General.
The news came a month after the company sold two-thirds of its UK annuity portfolio to Rothesay Life in order to "focus on further developing" its platform. Earlier in May it announced it was planning to acquire BlackRock's UK defined contribution platform, adding 350,000 clients with £12bn of assets to its books. Aegon's clients will continue to be serviced by Aegon until the final transfer, which is subject to regulatory and court approval. Aegon CEO Alex Wynaendts said: "I am very pleased that we are able to announce this transaction. Achieving the divestment of our UK annuity p...
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