01 Aug 2007

Prudential and Barclays sign new annuities agreement

Prudential UK (“Prudential”) and Barclays have announced today details of an agreement under which Prudential will be the preferred supplier of conventional annuity products to Barclays' retail customers in the UK.

Prudential will establish an annuities desk within its PruDirect distribution business through which Barclays customers can enquire about a range of annuity options and features that are available to them. Prudential is one of the strongest annuity providers in the UK and the agreement will take effect later in 2007 and run for five years.

Gary Shaughnessy, Managing Director, Prudential Retail Life & Pensions, said: “This agreement is further recognition of Prudential UK’s expertise and strength in the annuity and retirement market where we are a market leader, making annuity payments to around one million people. It also builds on Prudential’s already strong relationship with Barclays and we look forward to working closely with them to help maximise value for their customers”.

Stephen Ingledew, Commercial Director, Barclays Financial Planning, added: “We’re delighted to be able to offer Prudential’s award winning proposition to our customers. This relationship is another example of the importance Barclays Financial Planning is placing on helping people plan confidently for their retirement.”

ENDS

The information contained in Prudential UK's press releases is intended solely for journalists and should not be used by consumers to make financial decisions. Full consumer product information can be found at www.pru.co.uk.

Media Enquiries:
Prudential  
Steve Colton Tel: 020 7150 3136 Mobile: 07771 531525
Barclays    
Kirstie Robbie Tel: 020 7116 6193 Mobile: 07775 547219

Notes to Editors:

  1. Prudential UK has been voted Best Annuity Provider for the third year running by Financial Adviser Life & Pensions.


  2. Prudential UK has other partnership agreements for annuities with Zurich, Royal London, Pearl, Scottish Life, Openwork, Save & Prosper, St. James's Place, Thinc Group and Threadneedle.


  3. Barclays Financial Planning (BFP) provides objective and tailored financial advice on life, pensions and investment products across a carefully selected range of products from market leading providers according to customer needs. It is one of the largest financial advisers in the UK, with over 800 regulated advisers and is backed by teams of specialists from across the global Barclays Group.


  4. Barclays Financial Planning is a trading name of Barclays Bank PLC, which is authorised and regulated by the Financial Services Authority. Registered in England. Registered No: 1026167. Registered Office: 1 Churchill Place, London, E14 5HP

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