Rocking the boat: New insurers make waves with annuities

For years, the bulk annuity market consisted of just a small number of companies. But in recent years, new entrants have revamped the industry. M&G re-entered the market in 2023; the first newcomer since 2017, staggeringly. Previous attempts by insurers have resulted in mixed fortunes, with some becoming long-term players and others fading away. Businesses and consumers now have decisions to make. Pricing and products have changed as more competition enters the industry. How have smaller schemes established themselves? What challenges have they faced, and what issues do long-term players...