Aegon UK chief set to resign

Otto Thoresen, chief executive of insurer Aegon’s UK operation, is expected to leave the company this week, City A.M. confirmed yesterday. Thoresen, who has been overseeing a programme of cuts to save £80m per year, is expected to be replaced by chief operating officer Adrian Grace. Four other senior executives have also left Aegon this year due to a management restructuring programme that has split the business into two teams covering life and pensions, and its distribution business.