Aegon UK has reported that the operating earnings of the company, for the first nine months of 2007, have increase by 21% to GBP138 million, compared to GBP114 million posted in the same period of 2006.
Aegon’s value of new business figure which reflects the value attributed to new business volumes and is a key measure of profitability, rose by 41% to GBP118 million, compared with the same period in 2006.
The new business for Aegon UK’s life and pensions businesses in the first nine months of 2007 reached GBP907 million, which represents an increase of 18% on the same period in 2006. The Aegon’s individual business saw pensions new business rise by 20% to GBP299 million API.
Otto Thoresen, chief executive of Aegon UK, said: Aegon has achieved a strong level of profitable new business growth which is ahead of most of our competitors in the sector. We’ve seen healthy new business levels in individual pensions. But we’ve also seen good growth in areas where I believe there is considerable development potential – where as an insurer our products create certainty for customers.