A surge in demand from UK pension schemes for bulk annuity deals will not overwhelm existing supply in 2014, but could prompt an influx of new capital and new competitors in the buy-in/buy-out market, say insurers.
Firms active in the bulk annuity market, while convinced they have enough spare capacity to accommodate the boost in demand, are not ruling out the possibility that new players will enter the market.
Tom Ground, head of Legal & General's bulk annuity and longevity insurance de-risking
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