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ABI reveals investment by annuity providers and calls for government action to boost further growth

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Published on: 13 February 2025

Published by LNB News

LNB News 13/02/2025

Document Information

Issue Date: 13 February 2025

Published Date: 13 February 2025

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Association of British Insurers (ABI) has released new data showing that in 2023, annuity providers invested £178 billion (65% of their assets) in the UK, primarily in housing, renewable energy and infrastructure projects. The ABI highlights that this investment has supported multiple sectors and generated employment and represents a significant contribution, especially when compared to the estimated 55% of total assets invested by defined benefit (DB) pension schemes in the UK economy. The ABI report titled ‘Powering UK Growth Through Pensions’, outlines the investment strategies of providers in defined contribution (DC) pensions, bulk annuities (which cover employers’ defined benefit (DB) pensions), and individual annuities. The report also discusses the measures required to boost investment in the UK. The report's findings emphasise the significant role that both DC providers and annuity insurers play as investors in the UK economy.

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