UK and US PRT market forecast to exceed combined £250bn in next 3 years
Written by Adam Cadle
05/09/2024
The PRT market in the UK and the US is forecast to exceed a combined £250bn in the next three years, L&G has revealed.
Its latest PRT Monitor showed that the UK PRT market has completed an estimated £20bn of buy-ins and buyouts in the year to date, and the full year volume across this market is likely to exceed £40bn in 2024. The US market experienced a record breaking first half, estimated at $26bn.
The forecast supports L&G’s intention to grow PRT volumes and write £50-65bn of UK PRT over the next five years.
Andrew Kail, CEO, L&G, institutional retirement, stated: “At L&G, strong synergies across our divisions enable us to build long-term relationships with clients and support them from investment strategy to transaction execution, as well as providing first rate customer care and administration expertise. We are confident that we will continue to deliver exceptional value to our members, clients, and shareholders.”
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