O’Dwyer also confirmed that for the moment, Royal London has no further acquisition plans in the pipeline, although he said he is open to opportunities as they arise.
Elsewhere, Protection Guru founder and chief executive, Ian McKenna told FTAdviser the acquisition was “very disappointing to see”.
“It does make sense in the context of their stated objectives of focusing on the core workplace and retail savings channels,” McKenna said.
“Many protection advisers will see this as a significant loss of capacity. Aegon were great for writing large sums quickly, especially for business protection.
“AIG and Zurich will probably benefit significantly from their exit. While the policies are being transferred to a great company in Royal London, Aegon also had a great technical and sales team which hopefully Royal London will keep together as a specialist unit.”
jane.matthews@ft.com
