Aegon retains UK life insurance and protection businesses despite cost cuts
Wed, 29 Sep 2010
Aegon will keep hold of its UK life insurance and protection businesses after outlining the latest stage of plans to cut costs by 25 per cent.

The Dutch insurer has stated that the businesses support its aim of focusing on the 'core' at- retirement market. It has shut down its third party pensions administration and employee benefits software businesses as they are not central to its future proposition.

Aegon N.V. chief executive Alex Wynaendts says the UK continues to be a "key" market for Aegon. He said: "The measures we are taking in the UK are essential to our larger objective of improving returns and sharpening our focus on the long-term prospects for our business. The UK continues to be a key market for Aegon and we are committed to pursuing the future opportunities from a position of strength."

Recently, Aegon UK announced it was halving its number of sales centres and reducing the number of job roles by 106.
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