Aegon prepares sale of UK business - reports

Firm thought to be in early stages of process

Aegon, the Dutch insurance company that owns Kames Capital, is preparing to sell off parts of its UK-based operations, Sky News reports.

The Dutch financial services group is thought to be in the early stages of the sales process which comes after a significant shift in the UK pensions market. The report said Aegon has hired investment bankers at Citi to oversee "a number of asset sales" which could generate significant proceeds. A final decision on any sales has not yet been made, it added. A spokesperson from Kames Capital declined to comment on whether the UK asset management arm would be included in the potential sale. The speculation follows earlier consolidation in the pensions market when annuity providers Ju...