06 Mar, 2008
Nicola York - 06-Mar-2008
Aegon's new business increased by 27
per cent to £157m last year.
Life and pensions new business rose by 12 per cent compared with
2006 with individual pensions up 10 per cent to £381m.
Individual protection rose by 15 per cent to £47m while
offshore bonds rose 33 per cent to £81m.
Annuities grew by 41 per cent to £136m while Aegon Asset
Management new business on the retail side rose by 30 per cent to
Aegon UK chief executive Otto Thoresen says: "Aegon has
delivered another excellent year's performance reaching new levels
of profitability and record levels of new life and pensions
business. We have made important progress in developing our
business mix - building on our expertise in pensions but also
underlining our position as a leading player in individual
annuities and protection.
"I am particularly pleased with the new developments we are seeing
in asset management where Andrew Fleming's team is delivering good
equity performance despite volatile market conditions and this has
led to growth, particularly on the retail side. Our fixed income
capability is still a fundamental strength.
"Last year we established our most significant bank distribution
deal to date, with Barclays, bringing Aegon products to new
customers. Our aim this year is to continue to diversify our
distribution further with more new partnerships."