Budget 2014: Life companies tumble and Hargreaves jumps after pensions and savings reform

Life insurers and pension providers saw shares fall after Osborne said the rules on investing in annuities would be relaxed. Annuity provider Just Retirement group plummeted 23%, while Partnership Assurance Group, a provider of non-standard annuities for individuals with medical conditions, shed 10% shortly after the announcement.  Standard Life, Prudential and Aviva all fell by between 2% to 3%.  Bookmakes also suffered as Osborne clamped down further on fixed-odds betting terminals. Ladbrokes fell 12%, while William Hill dropped by 6%. However Hargreaves' shares jumped 6% a...