Prudential agrees annuity deal with L&G

Assist customers to get better deal

Kim Kaveh
clock • 1 min read

Legal and General (L&G) Retail Retirement has agreed an introducer agreement within its retirement income division to provide annuities to Prudential customers with guaranteed rates.

The arrangement - which will take effect from 1 November 2019 - is the fourth of its kind for L&G, following similar agreements with Aegon, ReAssure, and Sun Life Financial of Canada. It follows the publication of L&G's half-year results last month, which revealed that its individual annuity business sales were up 47% to £497m in the first half of 2019. The insurer said that it expects the deal with Prudential to increase its annuity sales in 2020 by 15%. As part of the deal, all guaranteed benefits will be honoured by Prudential and fulfilled by L&G, which will also compare the entir...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

'A paralysis of the UK pension system' - The reality of transfer delays

'A paralysis of the UK pension system' - The reality of transfer delays

Provider ‘stalling’ causing tense SASS client case

Isabel Baxter
clock 12 May 2026 • 6 min read
WBR group buys financial planning firm's SSAS book

WBR group buys financial planning firm's SSAS book

Part of long-term growth strategy

Jenna Brown
clock 05 May 2026 • 2 min read
The £22.40 question: Are clients in the dark on the full state pension?

The £22.40 question: Are clients in the dark on the full state pension?

'The political architecture is elegant, from the Treasury's perspective'

James Floyd
clock 05 May 2026 • 3 min read