Multinational communication services giant WPP has completed a £250m buy-in for two of its pension schemes with Pension Insurance Corporation (PIC) as the insurer celebrated a “healthy pipeline” of deals amid the Covid-19 outbreak.
Many key pension scheme risks fall outside the IRM framework and are therefore often left unmitigated. Matthew Giles looks at how to tackle these areas.
The fall in pricing of credit assets due to Covid-19 has made bulk annuities more affordable for schemes with significant gilt holdings, according to XPS Pensions.
While market conditions may have put a dent in your de-risking plans, there is still plenty of preparation you can do and opportunities to take advantage of, says Michael Abramson.
Another £1.2bn of defined benefit (DB) scheme liabilities were insured by Just Group last year, according to its preliminary full-year results.
After a year dominated by mega bulk annuity deals, K3 Advisory looks at how the Carter and Parker scheme made its £9.3m buy-in attractive to insurers.
Nimble footwork enables small schemes to compete with the big boys in the buyout market, says Stephanie Hawthorne.
Legal & General (L&G) completed 28 bulk annuity transactions with UK pension schemes over the course of 2019, its annual report reveals.
The Xylem UK Pension Plan has confirmed a £255m buy-in transaction with Rothesay Life in the insurer’s first deal of 2020.
Scottish Widows completed five bulk annuity transactions in 2019, with liabilities insured exceeding £2bn.
The Co-operative Pension Scheme (Pace) has agreed a £1bn buy-in with Pension Insurance Corporation (PIC), insuring benefits for around 7,000 members.
There have now been a total of over 50 buy-in and buyout deals of over £500m announced since 2007. The full list is as follows...
Allied Irish Bank (AIB) has secured an £850m buy-in for its UK pension scheme with Legal & General (L&G).
The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).
A significant increase in so-called ‘mega-transactions’ accounted for around two-thirds of the record-breaking bulk-annuity transfer volumes for 2019, Hymans Robertson analysis reveals.
The Co-operative Pension Scheme, known as Pace, has completed a £1bn buy-in with Aviva in the first announced bulk annuity deal of 2020.
Very few schemes have protection in place against longevity risk in their scheme liabilities. Howard Kearns explains why and how to rectify this
Three Lloyds Banking Group pension schemes have transferred £10bn of longevity risk to Pacific Life Re in the second-largest longevity swap ever.
There have now been a total of 27 longevity swaps over £1bn publicly announced. The full list, provided by Willis Towers Watson and through PP research, is as follows...
Pension Insurance Corporation (PIC) insured £7.2bn of scheme liabilities over the course of 2019, recording more new business than in any year prior.
Longevity swap transactions will hit a record-breaking level of £25bn this year, Willis Towers Watson has predicted.
Schemes are increasingly looking at longevity hedging as part of their de-risking process, according to a survey by Insight Investment.
Insurers are now able to accommodate up to £30bn of bulk annuity transactions every year with no impact on pricing, according to Lane Clark & Peacock (LCP).
Increasing demand for global longevity reinsurance could lead to higher bulk annuity prices but less exact matching for longevity hedging, says Mercer.