Aegon new life sales hit £758m in 2012

clock

Aegon has reported new life sales rose to £758m in 2012, up from £738m the year before.

The increase was driven by higher new life sales in the last quarter of 2012, which were up 53% to £247m up from £161m in the fourth quarter of 2011.

Aegon said the strong fourth quarter results were due to strong growth in group pensions.

Underlying earnings before tax increased from minus £22m in Q4 2011 to £20m in Q4 2012, mainly driven by the non-recurrence of exceptional charges recorded in the previous year, and the successful implementation of the cost reduction program in the Aegon UK business.

Full year underlying earnings before tax increased from £5m in 2011 to £85m in 2012

Net income increased from minus £76m in Q4 2011 to £30m in Q4 2012.

Aegon UK CEO, Adrian Grace said he believes his business is "uniquely" positioned to make a huge impact in the market in 2013.

 "I'm more excited about 2013 than any other year in business I can remember, as I believe Aegon is uniquely positioned to secure a large share of the at-retirement and workplace savings markets, by helping people plan confidently for the retirement they want."

 

More on Insurer

Third of renters could only afford ten weeks off work

Third of renters could only afford ten weeks off work

Scottish Widows research

Cameron Roberts
clock 19 November 2024 • 2 min read
AXA Health appoints director of distribution and marketing

AXA Health appoints director of distribution and marketing

Richard Glassborow takes the role

Cameron Roberts
clock 18 November 2024 • 1 min read
Zurich UK adds employee neurodiversity assessments

Zurich UK adds employee neurodiversity assessments

Half of neurodivergent adults do not disclose due to stigma, research finds

Jen Frost
clock 14 November 2024 • 3 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read