Aegon's pre-tax underlying earnings have fallen by €13m in the second quarter, to €401m, after the business was impacted by falls in the dollar and hefty charges for administration problems.
The group blamed the weak dollar for much of the fall, after it cost the group €44m. It also cited exceptional charges for administration failings at Scottish Equitable - previously flagged up by the group - which cost it €23m in the Netherlands and €14m in the UK. Net income rose to €404m during the period, up from €327m the previous quarter but lower than Q2 2010's income of €413m. Alex Wynaendts, chief executive of Aegon, said:"The weakening of the US dollar had a notable impact on Aegon's reported results. Net income was strong for the quarter, however, underlying earnings were...
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