The bulk annuity market looks set to expand from a market dominated by just two companies, to a more competitive sector with at least four new entrants announced in as many months.
What is perhaps interesting now is why this market is so attractive to new players, and how it could shape the future of the annuities sector. Historically, the bulk annuity market has been a way for employers with pensions schemes, which are winding up, to pass the liabilities of the scheme onto an insurer who will agree to take on the scheme and manage the assets going forward. Interest in the sector seems to have increased, however, since changes to pensions scheme reporting requirements at the beginning of last year forced funds to adopt the international accounting standards for p...
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