London, 24 March 2014 -- The pensions announcements in the March 2014 UK budget have credit negative implications for UK life insurers, particularly those focussed on annuities, said Moody's Investors Service in a report published today. The report outlines the changes that will occur to the pension system and the credit implications for UK Life insurers. In the coming weeks we will evaluate in more detail these changes and the potential for medium-term negative effects on UK life insurers' credit quality.

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