AEGON UK Reports Q2 Results

AEGON N.V. has today reported results for the second quarter of 2010. Within this, AEGON has reported on the performance of its UK operations.

Q2 Highlights for AEGON UK include:

- Underlying earnings were £18m, up 13% compared with the same quarter last year

- Net income increased 41% to £24m in the same quarter last year

- UK life and pensions new business (API) was £263m, up 25% compared with the same quarter last year

- Strategy to restructure and refocus the UK business on two core markets is under development

Commenting on the UK results, AEGON UK chief executive, Otto Thoresen said:

“We have seen improved new business and earnings growth this quarter which reflects higher stock market levels and increased new business in both corporate and individual pensions markets.

“The combination of an ageing population and the shift towards defined contribution pension schemes creates an opportunity for AEGON’s long-term sustainable growth in the UK. We see strong growth potential in the At Retirement and Workplace Savings markets – both of which are areas where we already have leading market positions so we will move forward from a position of strength.

“Our challenge in the months ahead is to refocus and restructure our business to ensure we have the right business model to deliver our new strategy, which will ensure continued success for AEGON UK in the long term.”

For further information on AEGON UK contact:

Lesley McPherson – Head of Media, AEGON UK

0131 549 3782 or 07740 897541

 

For further information on AEGON N.V. performance:

Dick Schiethart, Media Relations Manager, AEGON N.V.

0031 70 344 8821 or 0031 6 22889925

Contact: Beatrice Mocci
Phone: 0845 130 8992
Email: beatrice@revolver-pr.co.uk
Website: http://www.revolver-pr.co.uk