View more on these topics

JLT to take on Aegon DB scheme services

Aegon has struck a deal with Jardine Lloyd Thompson which will see JLT provide ongoing services to Aegon’s defined benefit schemes and 100 Aegon staff move to JLT.

The portfolios involved in the agreement have a value of around £710m with 25,000 members.

JLT Benefit Solutions chief executive Duncan Howorth says: “The ongoing provision of services to defined benefit schemes is central to our strategy as the market continues to consolidate. DB schemes need the support of firms that continue to invest in this activity while the arrangement allows Aegon to continue to develop its business model for the future.”

Aegon chief executive Adrian Grace says: “Our partnership with JLT delivers a strong solution for our clients and their advisers. The agreement provides for continuity of employment for our staff and the maintenance of services for our clients.”

Last month, JLT announced the acquisition of Alexander Forbes’ employee benefits business, Alexander Forbes Consultants and Actuaries, for £17m.

Recommended

4

Fay Goddard: Time for some to get a move on

Each year the PFS undertakes a member survey. It is important for us to know what members think about the services we provide and to understand the direction of travel of both individuals in their personal development and their businesses. This year’s results provided a valuable insight into a range of topics including RDR readiness, […]

FCA firms to plug FSA pension deficit

Firms regulated by the Financial Conduct Authority will bear the brunt of plugging the FSA’s £107m pension deficit under the new regulatory structure. In its consultation paper on regulatory fees and levies for 2013/14, the regulator says the costs of reducing the deficit on the regulator’s defined benefit pension scheme will be allocated only across […]

Avelo claims one in five mortgages sold in branch

Only one in five mortgages are currently being sold though a branch network, claims Avelo The technology solutions provider’s mortgage efficiency survey of 19 lenders, representing 70 per cent of the UK lending market, makes the claim that 27 per cent of mortgages issued by banks are done through branch networks. This figure drops to […]

3

Clegg urges industry to engage more with EU regulation

Deputy prime minister Nick Clegg has called on the financial services industry to engage more with Europe over regulation. Speaking at the CityUK annual dinner in London last week, Clegg said the industry must be “crystal clear” that regulation that hurts the City will hurt Europe as a whole. He said: “As someone who worked […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. I’ve had AEGON as a client for a good 5 years. Good things are going to happen here, you wait and see. One of the few life companies that has turned a corner and heading in the right direction.
    Good luck to them.

Leave a comment