Aegon axes head of annuity sales Mark Cardy
April 2, 2010 by William Robins
Aegon has made its head of annuity sales Mark Cardy redundant.
The Scottish insurer has made Cardy redundant and made Jeremy Haines position as annuity development manager redundant. An Aegon spokesman could not confirm whether Haines still had a role at Aegon, but said instead that he was ‘awaiting redeployment’.
‘As part of a change to how we support advisers we have moved from product specific focus to supporting advisers with tailored solutions…the annuity market is increasingly moving towards more individual pricing models, for example postcode and impaired annuities, and different providers are taking different competitive positions in different segments of the market,’ said the spokesman.
Over 2009 sales of Aegon’s annuity product fell 31% to £114 million from £165 million the previous year.