AEGON launches new tennis website

Thu, 20 May 2010 14:30:02 GMT

Leading life and pensions company, AEGON, today launched aegontennis.co.uk – a new tennis website which has been designed to support AEGON’s partnership with British Tennis, as well as become essential browsing for followers of the game in Britain.

In January 2009, AEGON became the new Lead Partner of British Tennis until 2013. In this groundbreaking partnership, AEGON is involved in all aspects of British tennis from grass roots through to elite level players and major events.

This includes encouraging more people of all ages to take up the sport through the AEGON Schools Tennis and AEGON Parks programmes; supporting British talent through the AEGON FutureStars and Team AEGON; through to major events such as the AEGON Championships at The Queen’s Club, London.

In addition to a wealth of news and information, aegontennis.co.uk includes an array of new tools to engage visitors, including searchable maps, an event calendar, video, polls, image galleries and competitions.

AEGON’s Head of Brand, Communications & Sponsorship, Jayne Ponzio said “As well as providing fans with the latest news and a host of entertaining features, the aim of the site is to bring to life what AEGON is doing to support British tennis at all levels of the game - from grass roots programmes through to supporting our elite athletes and world-class events.

“Not only will aegontennis.co.uk showcase AEGON’s major summer tennis events – the AEGON Championships, AEGON Classic and the AEGON International – but it will help fans, and our customers, stay up to date with the support AEGON provides other levels of the game.”

Notes to Editors

* AEGON UK is a leading life assurance, pensions and investment company with over 2 millions customers in the UK.
* AEGON employs over 4,900 people in the UK, with over 3000 working at its UK Head Office in Edinburgh
* AEGON UK is part of the AEGON Group, an international life insurance, pension and investment company with businesses in over twenty markets in the America’s, Europe and Asia.
* AEGON UK is the lead partner of British Tennis, investing in every level of the game from grassroots to centre court. For further information visit www.aegontennis.co.uk

For further information please contact:

Sophie Ashcroft
Media Relations Manager
T: 07740 897932 / 0131 549 2224
E: sophie.ashcroft@aegon.co.uk

AEGON UK reports Q1 results

Wed, 12 May 2010 10:48:44 GMT

Q1 Highlights for AEGON UK include:

• Underlying IFRS earnings were £25m, up 178% compared with Q1 2009 due to significant equity and bond market rises and further growth in the business.

• UK life and pensions new business (API) was £235m, an increase of 5% on Q4 2009, although a decrease of 7% on Q1 2009.

Commenting on the UK results, AEGON UK chief executive, Otto Thoresen said:

"This is a solid first quarter performance for AEGON UK . We’ve seen a significant rise in earnings which builds on the encouraging growth we reported in quarter 4 of last year. New business volumes have increased on last quarter showing a continued steady momentum.

"The life and pensions industry faces some key challenges ahead in the form of the retail distribution review and Solvency II. In February, we made changes to our management approach and we are focused on building a strong and resilient business that will succeed in the new economic and regulatory environment. We continue to build the team, with the appointment of Charles Garthwaite as Chief Risk Officer announced last week.

"Against a backdrop of growing pressure on public finances and significant levels of under saving for retirement, pensions policy has to be a key issue for the new Government. AEGON is calling for an end to the continuous changes to tax relief on pension contributions, a review of the arrangements for automatic enrolment and an urgent review into public sector pensions, as the most pressing priorities.

"Political change presents an opportunity to achieve a step change in the savings culture in the UK, which can benefit individuals, the economy and the industry. But we need to get it right. Politicians must not tinker with tax relief in a bid to establish short term fiscal gains, when pensions are in fact part of the long term economic solution for this country."

For further information on AEGON UK contact:

Lesley McPherson – Head of Media, AEGON UK

0131 549 3782 or 07740 897541

For further information on AEGON N.V. performance:

Dick Schiethart, Media Relations Manager, AEGON N.V.

0031 70 344 8821 or 0031 6 22889925

AEGON helps to reduce non disclosure with new adviser protection claims guide

Fri, 23 Apr 2010 14:51:50 GMT

The guide includes valuable information explaining the reasons behind why some claims are declined, with checklists to help advisers ensure the customer discloses as much detail as possible on the application form to avoid non disclosure issues.

The claims guide also helps advisers manage their customers’ expectations, ensuring they are aware of what illnesses they are covered for when taking out a protection plan.

AEGON has also made changes to it’s ‘Understanding Claims’ website with detailed information about the new tele-claims service which was launched in March. Early indications suggest that the tele-claims service has reduced the average time it takes to pay a claim from 10 to 5 weeks.

Matt Rann, Group Head of Underwriting and Claims said:

“The two most common reasons for declining a claim are when an illness is not covered in the customer’s plan and in situations where the customer has not disclosed full details of their medical history.

Helping advisers and customers understand the claims process remains a key focus for AEGON. With our new adviser help guide and updates to our claims website we aim to help further increase the number of claims we pay.”

Advisers can visit the understanding claims website at www.aegon.co.uk/claims

AEGON sets out blueprint to deal with ‘Pensions Crunch’

Fri, 16 Apr 2010 10:13:59 GMT

AEGON is calling on whichever party wins the election to make the tough choices needed to deal with the demands of an ageing population.

AEGON is highlighting that the UK’s long term economic growth is threatened by a ‘Pensions Crunch’ which needs to be tackled now to prevent serious problems for future generations.

With short-term pressures on the fiscal purse uppermost in politicians’ minds, AEGON warns they should not focus on the aftermath of the credit crunch at the expense of the growing pensions crunch.

In its Pensions Manifesto - ‘The Pensions Crunch: proposals for change’ - published today, AEGON sets out the policy proposals it recommends the next Government adopts to deal with the challenges ahead.

AEGON believes it’s vital that measures which look to plug the short-term hole in the public finances do not come at the price of neglecting the longer-term need to tackle the longevity challenge. Research carried out for AEGON by YouGov after the last Budget showed almost six out of ten (59%) respondents agreed the Government should do all it can to maintain future generations’ retirement even if it means extra cost in the short term.

Significantly, more than four in five people (81%) think pensions are more important (38%) or of at least the same importance (43%) in this general election compared to the election five years ago.

AEGON suggests the existing UK retirement framework is now unsustainable and is calling for a comprehensive rethink of how to get people saving more and help them make the most of their assets in later years. It believes the current ‘piecemeal approach’ to pension policy sends out the signal that the goalposts can be constantly moved. The same research found around half of respondents thought it likely that, following recent restrictions for the better off, a new Government would restrict pension tax breaks for more people in future.

AEGON recommends the incoming Government takes the following action to tackle the pension crunch and create the groundwork for a sustainable savings culture:

In the first 100 days

Call an immediate halt to the ‘salami slicing’ of pensions tax relief to give people confidence that the goalposts won’t be moved again.

Undertake a review of the automatic enrolment arrangements, to be introduced in 2012, to make it easier for employers to maintain existing schemes and to ensure fewer people are caught by the means-testing trap.

Commission an urgent review into public sector pensions to bring unfunded liabilities under control.

Over the lifetime of the next Parliament

Undertake a one-off review of the incentives to save – both financial and behavioural – to lay the foundations of a new savings culture.

Rethink the retirement landscape, breaking down the artificial barriers, such as tax rules, to let people make the best use of their assets to match the income needs of longer retired lives.

Ensure consumers have access to the advice and guidance they need by committing to a full national roll-out of the free-to-use ‘Moneymadeclear’ financial guidance service.

Otto Thoresen, AEGON UK chief executive, says:

“Pensions policy is more important now than at any time before due to the pressures on the economy from an ageing population. Longevity isn’t a choice for the UK, it’s a certainty. And the question isn’t whether or

AEGON’s new podcasts explore current challenges and opportunities for asdvisors

Fri, 09 Apr 2010 09:24:23 GMT

AEGON has produced a series of short audio podcasts to support advisers, by exploring the current challenges faced in the market and to identify ways in which they can maximise opportunities available to them going forward.

The audio podcasts follow on from a series of adviser roadshows held throughout February and March in which experts from AEGON explored the current challenges facing advisers from legislative and regulatory developments including Pensions reform.

The audio podcasts provide an insight and overview of the UK economy, with commentary on what global and local economic change will mean for financial advice in the UK from investment experts across AEGON Asset Management.

Advisers can also find out how they can help their clients make the most of the upcoming changes from Pensions reform in the UK and a our team of technical experts explain tax planning angles for their clients in light of these legislative changes.

Duncan Jarrett, Sales Director at AEGON said:

“The demand for our roadshows has been extremely positive, with over 750 advisers attending throughout February and March.

“In response to this demand we have taken the step to produce a series of free online audio podcasts so those advisers who could not attend can still receive this valuable information free of charge and at the touch of a button.”

The free podcasts can be downloaded at:
www.aegonse.co.uk/adviser/open-your-eyes/

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Further information
Kevin Brown
Media Relations Manager
AEGON
0131 5492859/ 07740 897282

AEGON says no news is good news for pensions in today’s Budget

Thu, 25 Mar 2010 09:23:10 GMT

AEGON believes announcements in last year’s Budget and pre-Budget report which broke the long-standing pensions deal, severing the link between income tax rates and pension tax relief, have introduced unnecessary complication and will impact more people than the Government realises.

AEGON suggests anecdotal evidence shows employers will find the proposals complicated to implement and are becoming disillusioned with pensions as a long-term solution to meet their employee benefit needs.

AEGON also believes constant changes to pensions rules causes uncertainty for pension savers at a time when stability is needed, at least in the medium term, to lay the foundation for auto enrolment.

Rachel Vahey, head of pensions development, says:

“Any suggestion that the tax advantages of pensions are ‘up for grabs’ undermines people’s confidence in the pension system so confirmation today that the Government has resisted the temptation for further tinkering is welcome. The Government should now pledge to maintain the status quo, at least in the medium term, to give people confidence in the stability of pensions in the run up to the introduction of automatic enrolment in 2012.

“There’s already a real fear the effect of last year’s changes will impact much wider than the people directly targeted. Using the current architecture of annual or lifetime allowances to restrict pensions tax relief would be simpler for employers to work with and for people to understand.

“The Government faces some very tough decisions to reduce public debt but we can’t allow these short-term pressures to compromise the longer term need to find solutions to tackle the longevity challenge. The UK should now take a step back and review what incentivises people to save so we can create a stable framework that encourages long-term saving.”

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For further information:

Rachel Vahey

Head of Pensions Development

Tel: 0131 549 2719

Margaret Robertson
Tel: 0131 549 6798
Mobile: 07740 897527

Notes to editors

On 22 April 2009 the Chancellor announced in the Budget that starting in the 2011/12 tax year, tax relief on pension contributions will be restricted to basic rate for individuals with an annual income of £150,000 or higher. For incomes above £150,000, the value of pensions tax relief will be tapered down until it is 20% for incomes over £180,000.

In anticipation of this change, the Government also introduced special rules, applying from Budget Day, to prevent people from making large additional contributions to their pensions in order to benefit from higher rates of tax relief while it is still available.

In December’s pre-Budget report the Treasury added up to another 85,000 people to the numbers caught by the new rules when it announced “From April 2011 tax relief on pension contributions will be restricted for individuals with gross incomes of £150,000 and over, where gross income incorporates all pension contributions, including the value of any benefit funded by, or eventually funded by, an individual's employer.

"Tax relief will gradually be tapered away so that above £180,000 it is worth 20%, the same rate received by a basic-rate income taxpayer. To provide more certainty for individuals around whether they are affected, and to reduce administrative burdens for schemes, this will be subject to an income floor at £130,000 of pre-tax income (excluding the value of any employer pension contributions)."

The Government estimates these changes will affect 300,000 people.<

Aegon launches online RDR adviser support centre

Thu, 18 Mar 2010 16:00:15 GMT

AEGON has created a dedicated online support centre to help advisers prepare their business for implementation of the Retail Distribution Review proposals.

AEGON believes the RDR will have wide-reaching impact on both provider and adviser business models and that many advisers will need help and guidance in making the transition to the new regulatory landscape.

The RDR ‘hub’ is available to all advisers and can be accessed at http://www.aegon.co.uk/rdr. It contains a range of information and support material including:

Up-to-date information on the latest RDR developments
Expert analysis of the RDR proposals and how they impact advisers
A comprehensive question and answer section covering all aspects of the RDR
RDR-related adviser and consumer research findings
Links to other sources of useful information.

The hub also links to AEGON’s Business Brain website which gives advisers practical help with RDR action planning and guidance on developing their business in the run up to 2013 and beyond.

The RDR hub will be further developed in the months ahead to provide expert commentary and analysis via webcasts. AEGON also plans to add an online polling facility to gauge adviser opinion on key topics.

Duncan Jarrett, AEGON UK sales director, says:

“The RDR is the most significant regulatory change facing our industry today. Advisers will have to make major decisions as to how they will operate in future. They will have to decide how to charge for their advice, what levels of service to offer and how to make sure they are appropriately qualified.

“Many advisers will find the post-RDR world is very different to the way they operate today and they will need help, information and support to make that transition. The timetable to implementation will be tight but should be achievable for advisers with the right help and support.”

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For further information:

Margaret Robertson

Tel: 0131 549 6798

Mobile: 07740 897527

Notes to editors

The FSA is expected to publish final rules on adviser charging and services for the individual retail market later this month. Full implementation of all the changes outlined in the RDR is required by 31 December 2012.

In the UK AEGON offers pensions, life insurance, asset management and financial advice to around 2 million customers. AEGON UK has assets under administration of £56 billion and employs approximately 4,900 staff.

AEGON is one of the world’s leading insurance groups with approximately 30 thousand employees world wide and 40 million customers in the Americas, Europe and Asia. AEGON's revenue generating assets totalled EUR 361 billion at December 31, 2009.

AEGON pays more in claims in 2009 for life and critical illness cover

Thu, 18 Mar 2010 12:04:21 GMT

AEGON has today published claims data which show an increase in the value of life protection and critical illness claims paid in 2009. Life claims paid were up 38.5% from £45m in 2008 to £55.5m in 2009 and Critical Illness claims paid were up by 32% from £19m in 2008 to £25m in 2009.

The percentage of life claims paid in 2009 was 92% and for critical illness was 88%, broadly in line with 2008 figures which were 91% across both types of cover.

Of the 12% declined claims for Critical Illness in 2009, One third were due to non disclosure and two thirds were due to the definition not being met.

Matt Rann, Group Head of Underwriting and Claims said: “In the past, the split in declined claims between non disclosure and definitions not being met was broadly 50/50. The reduction in instances of non disclosure to one third is evidence that people are now providing fuller and more accurate information at application stage and it also reflects the positive changes to claims brought in by the ABI in 2008.

“Moving forward, it is important that we work together as an industry to ensure the trend towards a reduction in the number of declined claims across the industry continues and the process of making a claim is made easier and quicker.”

In January 2009, AEGON launched a tele-claims service which aims to speed up the process of paying claims. Indications from the pilot of this service suggest the average time it takes to pay a claim will reduce from 10 weeks to 5 weeks.

For more information on claims financial advisers can contact their usual AEGON sales consultant or visit AEGON’s ‘Understanding claims’ website at http://www.aegon.co.uk/claims

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Further information

Mark Locke
Media Relations Manager
AEGON
0131 5493766

Notes to Editors
In the UK AEGON offers pensions, life insurance, asset management and financial advice to around 2 million customers. AEGON UK has assets under administration of £56bn billion and employs approximately 4,900 staff.

Nairn’s serves up a new breakfast club for local primary school

Tue, 16 Mar 2010 14:39:12 GMT

Nairn’s Oatcakes has joined up with leading life and pensions company AEGON to provide a healthy start to the day for primary school pupils at Niddrie Mill and St Francis, as part of the AEGON Breakfast Club programme.

Nairn’s is the latest Edinburgh based business to support and sign up to the AEGON Breakfast Club initiative. The programme aims to make a difference to the lives of Edinburgh’s primary school children by providing a free breakfast where there is an identified need.

Based in the Peffermill area of Edinburgh since 1935, nairn’s is a stone throw away from Niddrie Mill and St Francis Primary Schools and has been producing simple and natural oatcakes since 1896.

To celebrate the partnership, children from the school were today treated to a special lesson at the nairn’s factory to see how oatcakes are made.

Nairn’s Director Mark Laing highlighted why the partnership with these local primary schools is important. He said:

“Nairn's is delighted to support this important new Breakfast Club at Niddrie Mill and St Francis. As leading manufacturers of healthy oatcakes and biscuits Nairn’s recognise the importance of a healthy breakfast to start the day. It helps the children to work and behave better throughout the school day.”

Kevin Grady, Director of HR and

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