Aegon 'backs Capital base'

THE Dutch chief executive of Aegon has reaffirmed the group's commitment to its Edinburgh operations following months of restructuring turmoil.

Alex Wynaendts flew into the Capital yesterday and stressed a commitment to the insurer's operations in the UK. However, he also briefed staff on the loss of a likely 600 jobs.

Mr Wynaendts stressed that the firm "needs to make money" as it continues its 80 million UK cost-cutting programme and looks to capture an upturn in business.

Aegon UK has experienced continual upheaval, including plans to cut as many as 600 jobs in Edinburgh, where it has 2400 staff.