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Annuities Insurance in the UK – Key Trends and Opportunities to 2019

Annuities Insurance in the UK – Key Trends and Opportunities to 2019

Synopsis

This report is the result of extensive research into the annuities market in the UK, covering its market dynamics, outlook and competitive landscape. It provides details of the market size and projections of new business premiums, and addresses the impact of the new pension rules on annuity providers. The report also provides an overview of leading companies, and discusses the latest trends in product innovation and insurers’ strategic responses to annuity changes.

Summary

  • The report provides market analysis and insights into the UK annuities business
  • It provides a snapshot of the market size and market dynamics by product type
  • Furthermore, the report analyses the impact of the budget changes on annuity providers
  • It provides analysis of distribution channels for at-retirement products
  • It also discusses deals, news and product innovation in the category
  • Scope
  • This report provides a comprehensive analysis of the annuities market in the UK
  • It provides estimates for annuity new business premiums for the report’s 2010–2014 review period and the outlook for the market
  • It provides an overview of distribution channels, market dynamics and market drivers
  • It discusses product innovation trends and the new retirement income options;
  • It profiles top annuity providers and outlines key challenges facing them
  • Reasons To Buy
  • Gain an understanding of the UK annuities market and the new options at retirement.
  • Explore new business premium dynamics across annuity and drawdown products.
  • Learn about the performance of providers in individual and bulk annuity categories.
  • Understand key issues for advisers in the post-budget retirement landscape.
  • Find out more on key deals and new product launches in the market.
  • Key Highlights
  • What was the impact of the new pension rules on UK annuity and drawdown sales?
  • How did providers react to secondary annuity market proposals?
  • What are the latest product innovation trends in the retirement income market?
  • What are the views of providers on the future of the bulk annuity market?
  • Will Pension Wise boost advice opportunities for advisers in the market?

    • Executive Summary
    • Introduction
      • What is this Report About?
      • Definitions
        • Table Insurance Industry Definitions
      • Methodology
    • Market Analysis
      • Market Size
        • Purchased life annuities (PLA)
        • Compulsory purchase annuities (CPA)
      • Conventional Annuities (CPA)
        • Table UK Conventional Annuities - New Business Premiums by Product Type (GBP Thousand), 2010 – 2014
      • Investment-Linked Annuities (CPA)
      • Bulk Transfer and Deferred Annuities
    • Income Drawdown
    • ABI Annuity and Drawdown Sales
      • Table UK Overall Annuity Sales - Quarter 1 2013 - Quarter 4 2014
      • Table UK Drawdown Sales - Quarter 1 2013 - Quarter 4 2014
    • Market Drivers
    • Market Outlook
    • Distribution Channels
    • Competitive Landscape
      • Review - The Best Performers of 2014
      • Bulk Annuities - The Best Performers of 2014
        • Table UK Annuities- Top-10 Providers by New Business Premium, 2013 and 2014
      • Drawdown - The Best Performers of 2014
      • UK Life Insurers' Post-Budget Strategies
      • Product Innovation
      • Annuities- SWOT Analysis
        • Table Annuitiesand Retirement Income Options - SWOT Analysis
    • Deals and News
      • MGM Merges with Stonehaven and Rebrands
      • Zurich to Transfer GBP1.2 Billion Annuity Book to Rothesay Life
      • Aviva Investors Gets GBP20 Billion Boost from Friends Life Deal
    • Regulation and Compliance
      • Regulatory Framework
      • Regulatory Changes
        • New retirement options available from April 2015
        • 55% pensions `death tax' abolished
        • Changes to the annual allowance
        • Lifetime allowance to be reduced
        • Secondary annuity market proposals
    • Economic Backdrop
      • Real GDP Growth
      • Demographics
        • Aging population
      • Labor Market
      • GDP per Capita and Household Disposable Income
    • Company Profiles
      • Aegon UK Plc - Company Overview
        • Aegon UK Plc - key facts
          • Table Aegon UK Plc - Key Facts
        • Aegon UK Plc - main products
          • Table Aegon UK Plc - Main Products
        • Aegon UK Plc - main competitors
        • Aegon UK Plc - key employees
          • Table Aegon UK Plc - Key Employees
      • Aviva Plc - Company Overview
        • Aviva Plc - key facts
          • Table Aviva Plc - Key Facts
        • Aviva Plc - main products
          • Table Aviva Plc - Main Products
        • Aviva Plc - main competitors
        • Aviva Plc - key employees
          • Table Aviva Plc - Key Employees
      • Canada Life Ltd - Company Overview
        • Canada Life Ltd - key facts
          • Table Canada Life Ltd - Key Facts
        • Canada Life Ltd - main products
          • Table Canada Life Ltd - Main Products
        • Canada Life Ltd - main competitors
        • Canada Life Ltd - key employees
          • Table Canada Life Ltd - Key Employees
      • Friends Life Group Ltd - Company Overview
        • Friends Life Group Ltd - key facts
          • Table Friends Life Group Ltd - Key Facts
        • Friends Life Group Ltd - main products
          • Table Friends Life Group Ltd - Main Products
        • Friends Life Group Ltd - main competitors
        • Friends Life Group Ltd - key employees
          • Table Friends Life Group Ltd - Key Employees
      • Just Retirement Ltd - Company Overview
        • Just Retirement Ltd - key facts
          • Table Just Retirement Ltd - Key Facts
        • Just Retirement Ltd- main products
          • Table Just Retirement Ltd - Main Products
        • Just Retirement Ltd- main competitors
        • Just Retirement Ltd- key employees
          • Table Just Retirement Ltd - Key Employees
      • Legal & General Group Plc - Company Overview
        • Legal & General Group Plc - key facts
          • Table Legal & General Group Plc - Key Facts
        • Legal & General Group Plc - main products
          • Table Legal & General Group Plc - Main Products
        • Legal & General Group Plc - main competitors
        • Legal & General Group Plc - key employees
          • Table Legal & General Group Plc - Key Employees
      • Liverpool Victoria Group - Company Overview
        • Liverpool Victoria Group - key facts
          • Table Liverpool Victoria Group - Key Facts
        • Liverpool Victoria Group - main products
          • Table Liverpool Victoria Group - Main Products
        • Liverpool Victoria Group - main competitors
        • Liverpool Victoria Group - key employees
          • Table Liverpool Victoria Group - Key Employees
      • Lloyds Banking Group Plc - Company Overview
        • Lloyds Banking Group Plc - key facts
          • Table Lloyds Banking Group Plc - Key Facts
        • Lloyds Banking Group Plc - main products
          • Table Lloyds Banking Group Plc - Main Products
        • Lloyds Banking Group Plc - main competitors
        • Lloyds Banking Group Plc - key employees
          • Table Lloyds Banking Group Plc - Key Employees
      • Partnership Life Assurance Company Ltd - Company Overview
        • Partnership Life Assurance Company Ltd - key facts
          • Table Partnership Life Assurance Company Ltd - Key Facts
        • Partnership Life Assurance Company Ltd - main products
          • Table Partnership Life Assurance Company Ltd - Main Products
        • Partnership Life Assurance Company Ltd - main competitors
        • Partnership Life Assurance Company Ltd - key employees
          • Table Partnership Life Assurance Company Ltd - Key Employees
      • Prudential Plc - Company Overview
        • Prudential Plc - key facts
          • Table Prudential Plc - Key Facts
        • Prudential Plc - main products
          • Table Prudential Plc - Main Products
        • Prudential Plc - main competitors
        • Prudential Plc - key employees
          • Table Prudential Plc - Key Employees
    • Statistics
      • Review Period 2010-2014
        • Table UK Annuities- New Business Premiums(GBP Thousand), 2010-2014
    • Appendix
      • Methodology
      • Contact Timetric
      • About Timetric
      • Timetric's Services
      • Disclaimer

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