L&G exits with-profits annuity market

L&G head of strategy for individual annuities Tim Gosden said the business made the decision after a review of the market. He said its 9,600 policyholders would not be affected. He said the move had already been communicated to specialist advisers and wider adviser community would be informed today. He said: "With-profits come with a bit of a stigma attached. Transparency is very important within the annuity market We will look to fill the gap, but not at the moment. "Existing customers have no need to worry at all. It will not affect them. "This was the right decision, we ne...