L&G takes 61% post-Budget annuity sales hit; offset by ‘record' bulk deals
Legal & General (L&G) has reported record bulk annuity numbers which it said had "more than offset" a 61% drop in sales of traditional annuity policies since the Budget reforms were announced.
Its third quarter interim statement said overall annuity assets were up 16% to £39.9bn compared to £34.5bn in the same quarter last year. It added total annuity sales were up 5% to £3.9bn representing...
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