View more on these topics

Pru appoints bulk annuity chief

General-Business-Handshake-Hire-Appointment-700x450.jpg

Prudential has appointed Michael Abramson as director of wholesale transactions.

Abramson joins from Legal & General where we was head of strategic business for bulk annuity and longevity insurance.

He replaces director of defined benefit solutions Andy Reed, who leaves the insurer after 12 years.

Abramson previously worked for consultant Mercer advising pension scheme trustees.

Since the decline in individual annuity sales following the 2014 Budget announcements, insurers have increasingly shifted towards the bulk annuity market.

Prudential completed two bulk annuity deals totaling £117m in the first half of 2015.

Prudential UK and Europe executive director Tulsi Naidu says: “Through our longstanding presence in the wholesale transactions market we have developed considerable longevity experience, significant operational scale and a good investment track record. All of this gives us a unique blend of expertise and capabilities that are increasingly in demand.

“I am confident that Michael can help us to build on this strong position and become an ever more significant player in this important sector.”

Recommended

Prudential-Logo-700x450.jpg
2

Prudential reshuffles multi-asset range

Prudential has launched three multi-asset funds to add to its actively managed Dynamic Focused Portfolio range. The Dynamic Focused Portfolios will be formed of five low-cost products as the firm adds three new funds, joining the existing Managed Defensive and Cautious Managed Growth funds in the range. These existing funds have been renamed to fit the […]

Prudential 480
3

Prudential plans non-advised drawdown launch

Prudential is to enter the non-advised drawdown market this autumn, Money Marketing understands. To date the firm is one of several providers who decided not to allow customers to open drawdown policies without an adviser. In July Money Marketing revealed how providers were offering the pension freedoms to customers. Legal & General opted out for […]

Life cover for life

Jennifer Gilchrist Proposition Lead – Design, Royal London When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax planning tool for high-net-worth clients. And it’s really not surprising they’ve been pigeonholed in that way because before the arrival of RDR in 2013, that’s more […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment