The bulk annuities market is to gain two new entrants as AIG has announced it will be joining the UK arena, following closely on the heels of Aegon's confirmation yesterday.
AIG, the largest US-based insurer with operations in more than 130 countries, is already active in bulk annuity provision in a number of markets across the globe, and has decided to extend the service into the UK. It will be working with both the Higham Group and Pensions Management to produce its new product, with the Higham Group offering technical support while Pensions Management will take care of the long-term administration of AIG Life’s immediate and deferred bulk annuities. At the moment, the Higham Group is helping AIG on some test and pricing issues, to help shape the offering...
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