Risk Reduction
Buy now while stocks last: Risk reduction ramps up
As the risk reduction market gets busier and busier, Jonathan Stapleton says preparations must become more comprehensive for schemes to gain a foothold.
Rothesay Life appeals High Court block on Prudential annuity transfer
Rothesay Life has lodged an appeal against the High Court’s decision to block the £12bn transfer of Prudential’s annuity book.
Allied Domecq agrees £3.8bn buy-in with Rothesay Life to take 2019 deals past £30bn
The Allied Domecq Pension Fund has insured £3.8bn of members’ benefits with Rothesay Life, in the market’s largest deal to cover both pensioner and deferred members.
Rothesay Life agrees £4.7bn buyout of GEC scheme; Biggest ever deal smashes 2018 volumes
Rothesay Life has agreed the UK’s largest ever bulk annuity deal to date – a £4.7bn buyout of the GEC 1972 Plan, making 2019 officially a record-breaking year.
'Fashionable' buy-ins delaying journey to buyout
Pension schemes could be accidentally pushing themselves further from their endgame by agreeing “fashionable” buy-ins with insurers.
Life expectancy grows but slowdown in improvements continues
British people born between 2016 and 2018 are expected to live up to 4.2 weeks longer than those born in the 2015-17 period, according to the Office for National Statistics (ONS).
DB schemes continue move out of equities in favour of illiquids
Over half of all UK defined benefit (DB) schemes have reduced their investment in equities over the last two years while diversifying into alternative growth assets, according to Aon.
Tate & Lyle secures £930m buy-in with L&G
The Tate & Lyle Pension Scheme has completed a £930m full buy-in with Legal & General (L&G), insuring benefits for around 4,800 members.
Schemes urged to act on bulk annuities as funding 'crumbles'
Defined benefit (DB) schemes should act now to insure members’ benefits before an “anomaly” in the markets is corrected, Prudential Retirement has said.
FTSE 350 schemes nearing buyout exposed to excessive risk
Growing market volatility could adversely affect defined benefit (DB) schemes nearing buyout over the next five years, Barnett Waddingham says.
L&G agrees £35m buyout with Edwards Wildman Palmer scheme
Legal & General (L&G) has entered into an agreement with US law firm Locke Lord for a £35m buyout of UK-based Edward Wildman Palmer pension scheme.
Rothesay Life secures record year with £3.7bn bulk annuity deals in H2
Rothesay Life has completed £3.7bn of bulk annuity transactions so far in the second half of this year, according to its latest trading update.
The potential pitfalls of a buy-in
While buy-ins can provide an immediate reduction to liability values, schemes run the risk of retaining key risks and storing up problems, says Jos Vermeulen
Scottish Widows launches standard annuity onto open market
Scottish Widows has launched its standard annuity onto the open market to sit alongside its existing enhanced annuity.
Sportech scheme completes buy-in with Just
The Sportech Pension Scheme has entered into an agreement with Just Group for a £2.5m buy-in ahead of a planned buyout.
Court blocks £12bn annuity transfer from Prudential to Rothesay Life
The High Court has blocked the £12bn transfer of Prudential's annuity book to Rothesay Life, citing the insurer's lack of "established reputation" and differing "capital management policies".
Hitachi scheme agrees hybrid benefit buy-in with L&G
The Hitachi Data Systems Retirement Benefits Plan has agreed a buy-in with Legal & General (L&G) Assurance Society, covering both defined benefit (DB) and defined contribution (DC) provision.
Insured self-sufficiency Q&A with Legal & General
Jonathan Stapleton speaks to Russell Lee about Legal & General's new insured self-sufficiency solution.
How BAT's buy-in has paved the way for future deals
Following British American Tobacco's £3.4bn buy-in this month, Kim Kaveh speaks to some of the key players about the process.
Rothesay Life agrees £520m buy-in with Cadbury scheme
The Cadbury Mondelēz Pension Fund has agreed a £520m buy-in with Rothesay Life, insuring benefits for around 1,900 pensioner members.
Bulk annuity market breaks yet another record with £17bn of first half deals
Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.
Phoenix completes further £1.1bn buy-in with own scheme
Phoenix Life has completed a £1.1bn buy-in with its own defined benefit (DB) plan, the PGL Pension Scheme, it has announced.
L&G reports £6.3bn of bulk annuity sales in H1 as DC assets soar by 35%
Legal & General (L&G) completed £6.3bn of buy-ins and buyouts in the first six months of the year, with another £923m deal completed in July, the firm's half year results confirm.
List: The biggest UK longevity swaps
There have now been a total of 26 longevity swaps over £1bn announced. The full list, provided courtesy of Willis Towers Watson, is as follows...
