Our UK team was able to complete sales of PS104m of bulk annuity transactions above our hurdle rate (no bulk annuity transactions in the first half of 2013) and to significantly increase sales of with-profits bonds
by 25% as retail annuity sales decreased by 43%.
Intermediary partners are the primary route to market for a range of products and services that includes individual annuities, individual and corporate pensions, with-profits bonds
, onshore and offshore bonds, savings and investments, healthcare and protection products.
Even when shares perk up, many with-profits bonds
struggle to gain much benefit.
AN army of small investors will soon be looking for a new home to store their billions of pounds of savings, as they grab the chance to withdraw money from poorly-performing with-profits bonds
without paying a penalty.
Sales of its with-profits bonds
almost trebled to pounds 74m.
A decade ago With-Profits Bonds
appeared to offer a genuinely attractive avenue into the potentially flourishing returns of the stock market.
They hold either with-profits bonds
, endowments or pensions.
Q I'VE surrendered my with-profits bonds
, but want to keep a rainy-day fund in a high-interest deposit account.
Between 2001-2003, business grew as customers moved out of with-profits bonds
and into cautious unit-linked funds offered by providers.
A STOCKMARKET volatility means that with-profits bonds
no longer provide the high level of returns they used to.
Investors will be keen to hear what impact falling sales of ISAs and with-profits bonds
have had on insurance giant Legal & General when it reports first-half figures on Thursday.
The move will affect savers with with-profit based pensions and people holding long-term with-profits bonds
, but will not hit those with endowment policies saving to pay off their mortgages, he said.