Annuity sales at Legal & General Retail (L&G) hit an all-time high of £2bn so far this year following a further resurgence in annuity sales across the market.
The Association of British Insurers reported a 50% rise in sales in the first half of 2024, compared to the same period the year before. L&G sales are up 55% compared to the same week in 2023. Furthermore, L&G said the improved rates on annuities has also come from an increasing awareness of the other benefits a guaranteed income can provide. L&G managing director of retail retirement Lorna Shah said: "Annuities continue to be a great choice for many, providing income security in later life. Improved rates, which mean people can get more for their money, have played a key role in driv...
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