Insurance giant Aegon booked a sharp rise in third-quarter profits, the company said on Thursday.

Net profit reached €657m, tripling from €145m in the year-earlier period. Underlying earnings were up 14% at €395m Aegon said.
‘The strong earnings performance during the quarter was driven by growth across most businesses, strict cost control, higher equity markets and the strengthening of the US dollar against the euro,’ said CEO Alex Wynaendts in a statement.
Aegon also reaffirmed its aim to complete full repayment of the €3bn in state support by the end of June 2011, market conditions permitting.
According to the Financial Times, Aegon UK has offered employees a pay freeze in a bid to avoid further redundancies as it looks to restructure and reduce its operating costs in Britain.