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Aegon issues profit warning

The downturn in world stockmarkets has prompted Dutch insurance giant Aegon to issue a warning that its profits will be 30-35 per cent lower than last year.

Aegon, parent of Scottish Equitable, said it would have been on course to at least equal last year&#39s £1,53bn profits but for current stockmarket volatility.

Aegon&#39s results will be published on August 8.

Aegon executive board Don Shepard says: “Due to the lack of the recovery of the bond and the deterioration of equity markets since the first quarter, we think it is prudent to take this action.”

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