AEGON UK, the Edinburgh-based insurer reprieved from a possible sale or wind-down by its Dutch parent two years ago, has confirmed its return to financial health and promised future growth.
Aegon axed 600 of its 2500 jobs in Edinburgh in a major cost-cutting programme last year, as it battled to catch up with rivals in repositioning itself for the big changes ahead in workplace pensions and financial advice. It also had to pay out more than £170 million in redress to pension customers let down by past administration shortcomings, against an original estimate of £100m, alongside a £2.8m fine from the Financial Services Authority for the 30 different failings.
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