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

Govt moves to tackle gender pension gap with LPGS scheme changes

Govt moves to tackle gender pension gap with LPGS scheme changes

Reforms follow consultation on access and fairness in the Local Government Pension Scheme

Jonathan Stapleton
clock 03 February 2026 • 2 min read
Britain's pension ambition is rising - just as cash resilience slips

Britain's pension ambition is rising - just as cash resilience slips

'2026's 'pension resolution' wave is real. But so is the cash-cushion squeeze'

Phillip Wickenden
clock 02 February 2026 • 6 min read
Government again rejects Waspi compensation after review

Government again rejects Waspi compensation after review

DWP: Creation of compensation scheme would be ‘highly impractical’ and ‘time-consuming’

Martin Richmond
clock 29 January 2026 • 3 min read