Combined second-quarter earnings across Aegon's distribution businesses - which include national IFAs Positive Solutions and Origen - were nil, the insurer has reported.
Aegon UK made a loss before tax of £22m in the fourth quarter of 2011, dragged down by further redress payments following administrative problems at Scottish Equitable and a slump in life and pensions sales.
Not only will the needs of each and every client who needs a protection policy differ, but advisers also have to factor in the different underwriting processes of providers...
Aegon is to close its UK-based tied advisory service Aegon Direct as it progresses with a restructure designed to cut costs across the group by 25% by the end of the year.
Riots in London and elsewhere may have dominated this week's national news agenda, but, in financial services at least, there was plenty else going on…
Earnings at Aegon UK declined in the second quarter as the insurer continues to pay millions in customer redress following administrative problems at Scottish Equitable.
Aegon is set to sell its Guardian life insurance arm for £250m, according to the Sunday Times.
Stephen Greenstreet, managing director of Aegon-owned IFA Origen, has resigned to pursue alternative opportunities within the financial services sector.
Aegon UK has appointed Patrick Gale to executive chairman of distribution.
Capping prices or requiring advisers to benchmark recommendations against lower-charged substitutable products could have unintended consequences for consumers, insurer Aegon UK says.