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The Actuary The magazine of the Institute & Faculty of Actuaries

Annuity market change

According to Professional Pensions, intermediary The Annuity Bureau sees Canada Life possibly overtaking Prudential as the UK’s leading annuity provider. The Bureau – a division of Alexander Forbes Financial Services – said developments such as Clerical Medical ceasing to provide annuities for new pensioners and Canada Life’s ‘aggressive move’ into the mainstream arena were changing the landscape.

We were moved to wonder whether or why it is that an apparently more detached view of the prospects for improvements in UK annuitant mortality may be possible from Toronto or Winnipeg.