Annuity
L&G enters US pension risk transfer market
The US subsidiary of Dutch technology giant Philips has agreed a deal with UK insurer Legal & General and the US-based Prudential insurance company to guarantee annuity payments for 14,000 of its retirees and former employees.
Lowes Financial launches structured deal with 10% payout target
Lowes Financial Management, in conjunction with Societe Generale and Mariana Capital, has launched a structured product based on the FTSE-100 index that offers investors the potential of a 10% annual return after three years.
Legal & General boosts profits on funds management growth
British insurer Legal & General boosted net profits by 8% in the first half of 2015 due largely to growth in its international fund management operations and demand from UK firms looking for help with defined benefit pension schemes.
People Moves | 14 Jul 15
Aberdeen AM hires former MP to new pensions role
Aberdeen Asset Management has hired the former UK shadow pensions minister Gregg McClymont to fill a new role as head of retirement savings.
Relief at secondary annuity market delay
The government’s decision to delay the start of a new secondary market in annuities has been met with widespread relief by the pensions industry which is still grappling with how to implement the proposal.