Legal & General Plc (L&G) reported strong performance in its Institutional Retirement division, with bulk annuity volumes reaching £10 billion this year, alongside exclusive agreements projected to add another £0.5 billion. The breakdown shows £8.4 billion from the UK and £2.1 billion from international markets, highlighting record levels in the US and Canada. L&G’s optimistic outlook for pension risk transfers remains, targeting £50 billion to £65 billion in UK deals by 2028, bolstered by a robust pipeline. Additionally, the company is shifting towards gilt-based investment strategies, effectively reducing the financial strain of UK pension risk transfers to 1%, a significant improvement over previous estimates.
