Legal & General is the best way to take advantage of a thriving bulk annuity market, according to analysts at Jefferies.
This year, 2023, is set to be a record for bulk annuity deals, said the US bank, with defined benefit pension scheme funding levels near all-time highs, which should support a very strong bulk annuity pipeline over the coming quarters.
For this opportunity, Legal & General is a buy, said the bank, with 335p its target price, which adds the emphasis at the end of the 2022 year will be operating profit growth of more than 8%.
Shares rose 0.9% to 255.6p.