To improve return on capital and to de-risk its balance sheet

Aegon has created two separate functions within its UK risk and finance operations, each with local management board level responsibility.

The company claims that the new risk operation will bring focus on risk, capital management and improving returns. This development is expected to ensure Aegon is prepared for future changes to the regulatory environment in the UK insurance sector.

Mark Laidlaw, Aegon UK’s chief financial officer will take on the new management board role of chief risk officer and will lead and develop risk and capital management strategy within Aegon UK.

Aegon has appointed Bill Robertson to the role of finance director. He is currently chief actuary for Aegon NV, a role he has held since 2004. He previously held a succession of senior finance and actuarial roles within Aegon UK. Both Mark Laidlaw and Bill Robertson will report to Aegon UK chief executive Otto Thoresen.

Otto Thoresen, CEO of Aegon UK and a member of management board at Aegon, said: It is clear that Aegon UK needs to improve return on capital in line with Aegon’s global approach, following the impact of falls in the financial markets. Aegon’s strategy is to improve returns and to de-risk our balance sheet. Creating a new focus on risk and capital management will enable us to achieve these dual goals. With the new management focus, Aegon UK is well placed for the future.