l and g bucks trend with annuity sales

Legal & General achieved a record £3.9bn worth of annuity sales in the nine months to the end of September, bucking the overall downtrend in the market after the spring UK Budget pension reforms were announced.

l and g bucks trend with annuity sales

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This was 5% up on the £3.7bn sold over the same period in 2013, L&G revealed in its third quarter results.

It attributed the figures to record bulk annuity sales, which increased by 29% from £2,613m to £3,368m.

But individual annuity sales in the quarter reduced to £125m (Q3 2013: £323m), down 61%, with total sales in the nine months to September of £508m (Q3 2013: £1,077m), down 53% compared to the first nine months of 2013.
 
Total international assets increased by 45% to £86.5bn (Q3 2013: £59.6bn), with new flows of £7.2bn (Q3 YTD 2013: £14.0bn).
 

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