Aegon on a ‘positive trajectory’ as earnings jump

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Life and pensions firm Aegon UK today insisted its earnings were on a “positive trajectory” after unveiling a 28 per cent jump in quarterly profits.

The Edinburgh-based insurer reported an underlying pre-tax profit of £26 million for the three months to the end of June, up from £20m a year earlier, helped by lower operating costs.

Chief executive Adrian Grace said: “The company’s earnings are on the right track and are higher than at any point in 2013. We believe the earnings growth reflects the strength our corporate strategy.

“We are on a mission to get the UK ready for retirement and are helping employers, customers and their advisers to achieve this.”

The figures came as the firm’s Dutch parent company said second-quarter underlying earnings grew 7 per cent to €514m (£412m) and its revenue-generating investments topped €500 billion for the first time.

Group chief executive Alex Wynaendts said: “Ever more customers are choosing Aegon, and placing their trust in our products and services to secure their financial future.”