Aegon Asset Management generated gross sales of £270m in Q4, up 55% on the same quarter in 2008, while new business was £1,076m for the year, up from £542m.
Aegon UK total assets under administration reached a record level of £56bn as at 31 December 2009. The news comes as life and pensions new business fell 23% to £943m last year compared with 2008, although Q4 new business was up 9% on the previous three months on an APE basis. Underlying earnings for the quarter were £30m, an increase of 131% on Q4 2008, while the Value of New Business (VNB) measure advanced 10% on Q3 to £32m. Earnings for full year 2009 were £43m, down 62% from £113m in 2008. The firm also unveiled Adrian Grace as its new chief operating officer (COO), life and pe...
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