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By William Burrows
The most important news last week was
that the Italian company Generali has
withdrawn from the personal annuity
market in the UK.
We shouldn't draw too may conclusions
but it does highlight how competitivj
the UK annuity market is at the top
end, and how small the margins are.
Generally speaking, contrary to popular
opinion, insurance companies do not
make vast profits at the expensj of
the annuitant. In fact annuitants may
make a small profits at the expensj of
the insurance company. 1/3
Source: William Burrows, Annuities
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