A backdrop of macroeconomic uncertainty is driving demand from customers for guaranteed income retirement products. Some insurers are reporting record-breaking annuity sales driven by the significant increase in value offered from the returns available, combined with customers seeking income security in times of economic uncertainty.
For example, Canada Life’s UK half year financial results report record-breaking annuity sales, up 100% on the same period in 2022.
The insurer said that May 2023 was a record month for individual annuity sales, with more than £100m in new business in one month, the highest sales figure since the pension freedoms of 2015.At Canada […]
Full Post at www.yourmoney.com