M&G results: UK retirement market is key battleground for growth
Hugh Fairclough, partner and head of financial services at RSM UK, comments on M&G’s half-year results: “M&G's latest results underline the extent to which the UK retirement market is becoming a key battleground for growth. While the group's continued momentum in bulk purchase annuities (BPAs) reflects strong demand from pension schemes seeking certainty over liabilities, it also highlights the increasingly important role insurers are playing in shaping how retirement assets are invested across the economy.
“Recent BPA transactions and M&G's ongoing expansion of its retirement solutions business demonstrate how insurers are moving beyond traditional risk transfer towards becoming long-term stewards of pension capital.
“M&G's progress reflects a wider shift taking place across UK financial services. Retirement savings are increasingly being channeled through institutions with the scale and expertise to invest in long-term productive assets, creating a closer link between pension outcomes and economic growth.”