The UK's bulk purchase annuity (BPA) sector went from closed shop to open season with dizzying speed last year. Now trustees have up to 16 options to choose from when looking to offload their pension liabilities, and reports that several of these players are in the frame to takeover Zurich Financial Service's £4 billion UK closed life business demonstrates the rude health of this market.
This increasingly competitive market has led to downward pressure on pricing already. Mark Wood, chief exe
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