Insurer Aegon takes a tumble

SHARES in Dutch insurer Aegon NV tumbled after the company failed to guarantee that its net profit and share earnings this year would grow from 2001 levels. The company was cautious in its outlook, and said only that growth in 2002 would 'at least equal the 2001 earnings'.

'Aegon's results were in line with expectations but the outlook isn't at all very good and that is why investors are pushing the shares down very fast,' said Richard van den Brink, sales trader at Friesland Bank Securities.

Aegon shares were down 2.6% at e26.20. They had risen to as high as e27.80 earlier ahead of the results announcement.