Dutch insurer Aegon is planning to cancel its listing on the official list maintained by the UK Listing Authority and its admission to trading on the London Stock Exchange (LSE).

Both cancellations are anticipated to take effect on 29 June 2012.

Aegon said that the volume of its shares traded on the LSE is negligible and does not justify the related expenses.

The insurers’ shares will continue to be listed on Euronext Amsterdam and the New York Stock Exchange.

Aegon reported a net profit of EUR521m for the first quarter of 2012, an increase of 59%, compared to EUR327m during the same period a year ago.

Underlying earnings grew 3% to EUR425m for the quarter due to cost reduction in the UK.

Aegon is an international life insurance, pensions and asset management firm with businesses in more than 20 markets in the Americas, Europe and Asia.

The company employs more than 25,000 people and serves nearly 47 million customers worldwide.