Scottish Equitable

Type	Public
Founded	1831
Headquarters	Edinburgh, Scotland, UK
Key people	Otto Thoresen, CEO
Industry	Insurance
Products	Life insurance
Employees	4,900
Website	www.aegonse.co.uk

Scottish Equitable is a pensions, life assurance and investment company located in Edinburgh, Scotland.

Contents 1 History 1.1 Property fund withdrawal freeze 1.2 Programme of Redundancies 1.3 Lead Partner of British Tennis 2 Awards 3 References

[edit] History

Founded in 1831, Scottish Equitable has grown steadily in size and expertise to become one of the most experienced companies in the financial sector. AEGON acquired Scottish Equitable in 1994.^[1] Scottish Equitable was re-branded as AEGON Scottish Equitable in 2006.^[2]

[edit] Property fund withdrawal freeze

On 17 January 2008 the company closed its commercial property fund to most withdrawals after slumping property prices brought about panic selling by small investors. The company advised that most investors would be unable to access their money for up to a year.^[3][4]

[edit] Programme of Redundancies

In 2008/2009 AEGON UK started a programme of redundancies in its trading companies, including:
- 100 from Origen ^[5]
- up to 116 from the IT department of AEGON UK ^[6]
- up to 7 from the Property department of AEGON UK ^[7]
- 11 from Life and Pensions Marketing ^[8]

[edit] Lead Partner of British Tennis

On 1 January 2009, AEGON UK became the first Lead Partner of British Tennis in a 5-year deal with the Lawn Tennis Association.^[9]

[edit] Awards

Scottish Equitable picked up six awards for technology from Money Marketing in 2005 for individual pensions, self-invested personal pensions, income drawdown, group pensions and two separate awards for A-day online capabilities. These awards were all triple 'e' rated, which is the highest score available.

Scottish Equitable International won the International Insurance Excellence Award at the 2005 KPMG/Business and Finance Awards.

Awarded Group Pensions Provider of the Year 2005 at the Financial Adviser Life and Pensions Awards. This award is voted for by financial advisers, who were asked to rate Scottish Equitable in relation to competitive rates, product innovation, sales, marketing and PR, and charges and financial adviser support. At the same awards ceremony, they came third in the Pension Provider of the Year category.

[edit] References