Reports had earlier revealed that Aegon UK's parent Dutch Company was planning to sell its business in the UK. However, Ageon UK has denied such a development.

On Sunday there was a speculation that Aegon NV is planning to sell Aegon UK for a sum of £1.5 billion.

A spokeswoman for Aegon UK said that the story is false.

However, she said that Alex Wynaendts, the Chief Executive of the group, was about to hold the yearly meeting of investors on Tuesday. She further disclosed that in the meeting Mr. Wynaendts would give the latest information to analysts and shareholders regarding the global policy of the Company.

The revelation has come at a time when the life insurance quarter of the UK is volatile. There are ongoing discussions between Resolution and AXA regarding the sale of 50% of AXA's operation to the Clive Cowdery led consolidator.

Otto Thoresen, Aegon UK Chief Executive had declared the decision of dividing the life and pensions of the management from the distribution part of the trade and allotment of separate Boards to them.

Adrian Grace was given the post of Chief Operating Officer. The sales of life and pensions of Ageon UK plummeted to £943 million in 2009. In the year 2008 the sales were £1.1 billion.