Consultants ease concerns over buyout consolidation

Jack Jones looks at the implications of consolidation in the bulk annuity market

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The acquisition of Lucida's book of annuities by Legal & General (L&G) demonstrates the security given by regulation governing the bulk annuity market, say consultants.

The insurer bought the £1.4bn portfolio for £151m through its subsidiary L&G Assurance Society last week (PP Online, 26 June). The move came after Lucida closed to new business in November after to...

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