Sales of annuities in the first quarter of the year hit their highest recorded levels since 2014, figures from the Association of British Insurers (ABI) have shown.
The trade body’s data revealed £1.19bn of annuities were sold in the first quarter of 2023, compared to £902m in the final quarter of 2022 and £839m in the first quarter of last year. It also found the external annuity market, which enables savers to shop for an annuity, reported a sharp increase to £847m in Q1 2023, compared to £578m and £463m in Q4 and Q1 2022 respectively.
The ABI also […]
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