15th October 2014

Aegon UK strength recognised by AKG rating upgrade

Aegon UK has received a ratings upgrade from actuarial based ratings consultancy, AKG.

Aegon was awarded a B+(very strong) improved from a B (strong) last year in terms of financial strength.

An intensified focus on the ARC platform in the last year resulted in the platform business reaching £2bn assets under management in July. This focus was further reinforced by recent figures from The Platforum identifying Aegon’s platform as the fastest growing in the market, nearly 9% greater than their nearest competitor.

In April, Aegon also launched a new digital pension and ISA service for non-advised customers named Retiready, and these factors have contributed to the result. 

Adrian Grace, Chief Executive Officer at Aegon UK, said: “We welcome this amended rating from AKG. We’ve been working closely with to help them better understand our business and believe today’s rating provides a better reflection of the strength of our business in the UK and is also more in line with ratings from other global ratings agencies.”

Aegon UK is part of the Aegon group and Aegon NV is one of the world’s largest and strongest insurance companies and are rated AA- by Standard and Poor’s, A3 by Moody’s and A by Fitch. In the UK, Scottish Equitable plc are rated A+ by Standard and Poor’s and AA- by Fitch. Standard and Poor’s are one of the largest global rating agencies.

Grace continued: “Our strategy for the future is clear and has received positive feedback from both analysts and investors and the Aegon group who remain committed to our business in the UK.”

Investments, Pensions, Wraps & Platforms