UK CFO takes on new board role of CRO
AEGON UK has created two separate functions within its UK Risk and Finance operations, each with local Management Board level responsibility.
Mark Laidlaw, AEGON UK's Chief Financial Officer takes on the new board level role of Chief Risk Officer and will lead and develop risk and capital management strategy within AEGON UK.
AEGON also appointed Bill Robertson to the role of finance director. 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.
The new risk operation will bring a clear focus on risk, capital management and improving returns, said the company’s statement. “This development will ensure AEGON is prepared for future changes to the regulatory environment in the UK insurance sector,” it continued.
Commenting on the changes, Otto Thoresen, AEGON UK CEO and member of the 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."
As an international life insurance, pension and investment company based in The Hague, AEGON has businesses in over twenty markets in the Americas, Europe and Asia. AEGON companies employ approximately 29,000 people and have over 40 million customers across the globe.
Key figures - EUR / Q3 2009 / Full year 2008
before tax / 351 million / 1.6 billion
New life sales / 484 million / 2.6 billion
Gross deposits / 6.8 billion / 40.8 billion
(end of period) / 354 billion / 332 billion