Aegon UK

Aegon UK is linking up with wrap Novia to launch two platform propositions focusing on the 'at retirement' and 'workplace savings' markets.

Aegon UK has published individual protection claims data showing 95% of life claims and 91% of critical illness claims were paid in 2010.

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.

Former head of the RDR at the FSA Amanda Bowe has joined Aegon UK as group compliance director.

National IFA Positive Solutions plans to build an internal paraplanner service this year in a bid to free up time for its 1,500 partners to develop their businesses and customer relationships.

Two more senior figures are to leave insurance giant Aegon UK as the company continues a restructuring programme designed to cut operating costs by 25% by the end of the year.

Aegon expects to complete a customer redress exercise currently estimated at £60m by the end of next year.

Aegon-owned national IFA Positive Solutions, which has previously complained of the 'underhand' recruitment tactics used by its rivals, lost about 400 partners in 2010, CEO Jim Reeve says.

Aegon-owned national IFA Positive Solutions is piloting a time recording tool to help partners translate time spent with clients into cost.

A past business review carried out by Aegon-owned national IFA Positive Solutions identified ‘isolated' cases of poor advice but no systemic mis-selling issues, the company says.