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Aegon triggers NISL takeover

Aegon UK has triggered an agreement with its platform provider Novia to take over Novia Investment Services Limited (NISL) and its 40 staff.

The move will mean development work on Aegon Retirement Choices, which has won several awards and netted more than £1 billion in its first two years, will move in-house to Edinburgh. NISL was set up as a separate company to build and administer the Aegon platform in 2011. The original deal featured a knowledge and skills transfer agreement and an option for Aegon to purchase NISL.

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