Legacy Forecasts
Last updated June 2020
Legacy Foresight have updated their five-year UK market forecasts to take into account the very latest information on deaths, economic projections and administrative delays due to COVID-19.
All of these factors have deteriorated since scenarios were produced at the end of March, signifying a more dramatic decline of 8% to 27% in legacy income over the coming year.
However, the negative impact is expected to be relatively short-lived, and forecasts for the next five years continue to suggest market growth. Even based on more pessimistic scenario, legacy incomes over the five years 2020 to 2024 will be just 5% lower than pre-COVID-19 estimates.
Overall, legacy incomes are still expected to grow over the next five years, increasing from around £3.2bn in 2019 to £3.7bn-£3.8bn in 2024.
