View more on these topics

£250M sale could be on cards for Guardian

Aegon is preparing to sell off its 190-year-old life insurance arm Guardian, according to reports.

The reports suggest Guardian, which has around 500,000 customers, could be sold off in a deal worth £250m.

Private equity firms Cinven and Apollo are rumoured to be considering bids for the business, with Goldman Sachs handling the sale.

An Aegon spokeswoman says: “We do not comment on market rumours and speculation.”

Aegon bought Guardian in 1999. It was fined £750,000 in 2006 for flaws in its mortgage endowment complaint-handling procedures.

At the time, the FSA said Guardian’s procedures were “neither appropriate nor effective” and exposed 5,600 customers to financial loss.

Aegon is continuing its drive to reduce costs by 25 per cent by the end of the year under plans to refocus its business on the retirement and workplace savings markets.

In May, Aegon slashed 213 jobs across its marketing, IT and personal assistant support departments. The firm has announced a total of 557 job cuts so far.


Fewer than half of absolute return funds beat inflation

Fewer than half of funds in the absolute return sector have beaten inflation over the past year. Just 43 per cent of the 69 funds in the sector beat inflation over the 12 months ending June 30, 2011, to deliver positive results, according to the latest results from FE Analytics. The results demonstrate that only […]

Govt to announce extra public sector pension contributions

The Government is expected to announce how much extra public sector workers will be expected to pay toward their pensions today. Figures leaked to the Daily Telegraph set out a sliding scale of increased contributions with 750,000 of the lowest paid public sector staff seeing no increase and those with bigger wage packets paying more. […]


Cabinet row over public sector pension reforms

Health Secretary Andrew Lansley has attacked the Government’s public sector pension reform proposals in a letter to Treasury chief secretary Danny Alexander, the Telegraph reports. In a private letter to Alexander, sent two months ago, Lansley reportedly refers to a paper sent to the Cabinet outlining the Government’s reform proposals. He says: “The paper assumes […]

Aifa fears over data collection demands

Aifa says it has serious concerns about the cost and time implications of the FSA’s data collection proposals for advisers and warns they may breach human rights conventions. Under proposals published in May, advisers will have to provide the FSA with data about adviser-charging models as part of their regulatory return and submit complaint data […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm