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Business down at Aegon UK

Aegon UK&#39s investment and international business fell over the first six months of this year despite strong sales at Scottish Equitable.

ScotEq sales rose by 31 per cent to £290m from £221m in equivalent premium income, including more than a 1,000 new stakeholder schemes.

But Aegon Asset Management lump-sum investment sales fell by 13 per cent to £170m from £195m. Assets under management remained unchanged at £34bn on the same period last year.

ScotEq International&#39s single-premium business also fell by 27 per cent to £103m from £141m.

Total new business figures for the Aegon UK group rose by 24 per cent to £327m from £263m.

Aegon UK chief executive David Henderson: “Aegon Asset Management is only in its third year of existence and in its first year under its new identity. We have made significant efforts to develop our institutional business.”

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