This included details on the transformation of the business, integration of Cofunds and reaffirming that the business unit will pay a special dividend to the Group of £150 million in the second half of 2017. The dividend reflects Aegon UK's strong financial position, according to Adrian Grace.
Adrian Grace was speaking during a presentation in Aegon UK's Leadenhall office in London. He told analysts that Aegon UK's underlying earnings were expected to grow from 2017 due to improving fee-based earnings and as the platform reaches scale following the integration of Cofunds.
Further, the UK is well-within its new Solvency II ratio target range of 145% to 185%. This in addition to growing normalized capital generation, he said, will enable the UK to pay dividends in the future to the Group on a normal basis.
He added that Aegon is well positioned to capitalize on expected platform market growth to £1.2 trillion by 2021 and that the company was also well placed to take advantage of market opportunities by leveraging its omni-channel distribution strategy and its diversified product mix.