Aegon on a ‘positive trajectory’ as earnings jump

Life and pensions firm Aegon UK today insisted its earnings were on a “positive trajectory” after unveiling a 28 per cent jump in quarterly profits.

The Edinburgh-based insurer reported an underlying pre-tax profit of £26 million for the three months to the end of June, up from £20m a year earlier, helped by lower operating costs.

Chief executive Adrian Grace said: “The company’s earnings are on the right track and are higher than at any point in 2013. We believe the earnings growth reflects the strength our corporate strategy.

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“We are on a mission to get the UK ready for retirement and are helping employers, customers and their advisers to achieve this.”

The figures came as the firm’s Dutch parent company said second-quarter underlying earnings grew 7 per cent to €514m (£412m) and its revenue-generating investments topped €500 billion for the first time.

Group chief executive Alex Wynaendts said: “Ever more customers are choosing Aegon, and placing their trust in our products and services to secure their financial future.”