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LONDON, March 26 (Reuters) - British life insurance and pensions provider Legal & General Group Plc said on Wednesday it had won a 3 billion pound ($5 billion) bulk annuity contract with the ICI Pension Fund. L&G said the 3 billion pound premium from the transaction would increase its stock
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Financial services firm Legal & General has won a bulk annuity arrangement with the ICI Pension Fund covering 3bn pounds of its liabilities, the largest ever bulk annuity policy arranged by a pension scheme in the UK. It is thought that bulk annuities, which accounted for 70% of the company's own a
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LONDON (Alliance News) - Legal & General Group PLC has forecast that Chancellor of the Exchequer George Osborne's changes to pensions rules could result in the GBP12 billion a year annuity market more than halving in size, according to the Financial Times. The measures introduced in the Cha
Read moreInvestec has upgraded its rating for Lloyds Banking Group from 'hold' to 'buy', telling investors that "it is safe to go back in the water", prompting a strong rise in the share price. "After a 10% 10-week pull-back, we again see reasonable value for a low-risk stock. Upgrade to 'buy'," the broker
Read moreThe chief executives of some of Britain's biggest life insurers have asked regulators to intervene after the Chancellor's announcement of dramatic changes to the pensions market, the Sunday Telegraph said. The insurance bosses have contacted the Financial Conduct Authority and the Prudential Regulat
Read more(Repeats item published on Friday, no change to text) By Chris Vellacott and William James LONDON, March 21 (Reuters) - Britain's government may have damaged its own ambitions to revamp the country's infrastructure using private sector money after new economic policies hobbled a key i
Read more- FTSE closes up 15 points at 6,557 - Feb UK public sector borrowing slightly ahead of forecasts - Eurozone consumer confidence higher than expected techMARK 2,790.85 -0.34% FTSE 100 6,557.17 +0.23% FTSE 250 16,160.11 -0.35% The City ended the week on a positive note, with mining stocks providing
Read moreBy Chris Vellacott and William James LONDON, March 21 (Reuters) - Britain's government may have damaged its own ambitions to revamp the country's infrastructure using private sector money after new economic policies hobbled a key industry's incentive to invest. Policies announced on W
Read moreMining stocks were performing well throughout today's session as bargain hunters stepped in following recent weakness in the sector. At Thursday's close, the FTSE 350 mining sector had lost more than 11 per cent over the last four weeks. Anglo American, Antofagasta, and precious metals producer Fres
Read more(Repeats Thursday item without changes) * Savings, pensions overhaul to increase asset manager value * Deals traditionally tough to make work, staff key * May entice new entrants; F&C deal highlights valuations * In-house fund arms of insurers may also attract interest
Read more(James Saft is a Reuters columnist. The opinions expressed are his own) By James Saft March 20 (Reuters) - British retirement savers will benefit greatly from new pension rules, though inevitably some will squander the opportunity. Still, better to make one's own mistakes than h
Read more* Savings, pensions overhaul to increase asset manager value * Deals traditionally tough to make work, staff key * May entice new entrants; F&C deal highlights valuations * In-house fund arms of insurers may also attract interest By Simon Jessop LONDON, March 20 (Reu
Read moreLONDON (Alliance News) - UK stocks fell on Thursday, following the declines seen in US markets on Wednesday after new Federal Reserve Chair Janet Yellen announced a further cut to the US quantitative easing programme and also hinted at an interest rate rise sooner than previously expected.
Read more* Annuity market worth an estimated 15 bln stg a year * UK to scrap requirement for retirees to buy annuity * Other products seen unlikely to make up for lost business (Adds comment by Just Retirement's CEO) By Chris Vellacott and Jemima Kelly LONDON, March 20 (Reuters)
Read more* Annuity market worth an estimated 15 bln stg a year * UK to scrap requirement for retirees to buy annuity * Other products seen unlikely to make up for lost business By Chris Vellacott and Jemima Kelly LONDON, March 20 (Reuters) - Britain's insurers will lose control of
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