Individual annuity sales jumped 22 per cent last year at Legal and General, latest results show. Bucking a wider market trend of falling sales since the pension freedoms, the insurer put part of the spike down to “increased intermediary presence”. FCA data shows annuity sales from October 2015 to March 2016 for those accessing their pots for the first time …
Prudential withdraw from Open Market Annuities
Prudential have decided they will no longer sell annuities through advisers or intermediaries via the open market. A spokesman said: ‘We can confirm that we propose to make a change to conventional annuity business written with financial advisers.’ They have decided from the 17th June 2016 ‘we will no longer accept applications for new external conventional annuity business. There is …