New management structure

In line with Aegon’s strategy, Aegon UK continues to focus on efficient capital management and improving returns on capital.

Toward this end, Aegon has created two separate functions within its UK Risk and Finance operations, each with local management board level responsibility. The new Risk operation will bring a clear focus on risk, capital management and improving returns. This development will ensure Aegon is prepared for future changes to the regulatory environment in the UK insurance sector.

Mark Laidlaw, Aegon UK’s Chief Financial Officer will take on the new management board role of Chief Risk Officer and will lead and develop risk and capital management strategy within Aegon UK.

Aegon has appointed Bill Robertson to the role of Finance Director Aegon UK. Mr. Robertson is currently Chief Actuary for Aegon N.V., a role he has held since 2004. He previously held a succession of senior finance and actuarial roles within Aegon UK.

Both Mark Laidlaw and Bill Robertson will report to Aegon UK chief executive Otto Thoresen.

Commenting on the changes, Otto Thoresen, Aegon UK CEO and a member of Aegon’s Management Board, said, “It is clear that Aegon UK needs to improve return on capital in line with Aegon's global approach, following the impact of falls in the financial markets. Aegon’s strategy is to improve returns and to de-risk our balance sheet. Creating a new focus on risk and capital management will enable us to achieve these dual goals. With the new management focus, Aegon UK is well placed for the future.”

Notes to editors

Mark Laidlaw was appointed Chief Financial Officer in January 2005, and in this role, led Aegon UK’s finance, actuarial and risk functions. Mark joined Aegon in 1988 and has held a number of key financial roles.

Bill Robertson joins Aegon UK from Aegon N.V. where he was previously Chief Actuary. Prior to that he held a number of senior finance and actuarial roles within Aegon UK. He joined Aegon in 1999.