Aegon back in the black as sales recover

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Aegon, which owns Scottish Equitable in the UK, made a net profit of 145 million (£130 million) in the July-to-September period, reversing a year of quarterly losses.

It is planning to run off several underperforming businesses, including its UK group risk arm.

At the end of this month, the company is scheduled to repay 1 billion to the Dutch government.

Chief executive Alex Wynaendts said this will be "an important first step toward full repayment of the capital support Aegon received last year".

Sales of new life insurance fell 22% from a year earlier to 484 million. They rose 3% from the second quarter.