AEGON in the UK is part of one of the world's largest pension and insurance groups. The AEGON Group has over 27,000 employees and 25 million customers worldwide. It has grown in the UK both by expanding its own customer base and by buying other businesses, such as Scottish Equitable. AEGON UK's aim is to become 'the best long-term savings and protection business within the UK'. To achieve this, it is keen to embrace and manage change in order to improve. AEGON also needed to raise its profile in the UK. The companies which it bought tended to keep their own brand identities so AEGON needed to build on the global strength of the Group.
All organisations have to deal with external changes, over which they have no influence. It is important for managers to understand these changes. External influences on AEGON include:
increased life expectancy and therefore a need to provide for a longer retirement
the poor reputation of some sectors of the insurance industry, where......
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