Third way annuity market grows but future 'uncertain'

Figures from Watson Wyatt suggest the products are rapidly growing in popularity, despite problems for some providers. Total variable annuity sales in the UK hit £370m in the first three months of the year, up 7.7% compared with the same period in 2008. In 2008, sales more than doubled to £1.153m, though Watson Wyatt says the future of the market is uncertain. Andy Sanders, senior consultant at the firm, says: "Sales of variable annuities grew dramatically in 2008 as financial advisers and consumers became more familiar with the products on offer. "The record first quarter 2009 sale...