Risk Reduction
PIC agrees £1.2bn longevity reinsurance deal with SCOR
Pension Insurance Corporation (PIC) has reinsured £1.2bn of its longevity risk with French company SCOR, the second deal between the two insurance companies.
Bulk annuity deals to reach £30bn in 2019, predicts Willis Towers Watson
The bulk annuity market is set to grow to historically high levels in 2019 with £30bn worth of deals expected over the year, according to Willis Towers Watson (WTW).
Rentokil Initial agrees £1.5bn buy-in with PIC ahead of 2020 buyout
The Rentokil Initial 2015 Pension Scheme has secured a buy-in covering 14,200 members in a £1.5bn deal with Pension Insurance Corporation (PIC).
Exclusive: £50bn of buy-ins need restructuring after GMP equalisation ruling
Insurers are set to face a "flood of requests" from pension schemes for buy-in contracts to be restructured to allow for guaranteed minimum pension (GMP) equalisation, Aon warns.
Schemes 'need patience' on bulk annuities as 2019 'queue' forms
The pension insurance market could be set for another record-breaking next year as schemes are already "in the queue" for deals at the start of next year, says Hymans Robertson.
Getting ready for 2019 triennial valuations
Susan Martin says there are lots of challenges to grapple with ahead of next year's LGPS valuations.
Just Group nets £1.1bn of bulk annuity deals
Bulk annuity sales at Just Group have nearly doubled, with total deals amounting to nearly £1.1bn, the insurer's nine-month results reveal.
Budget 2018: PPF and schemes to fall in insolvency priority ladder
Defined benefit (DB) schemes and the Pension Protection Fund (PPF) are set to receive even less in sponsor insolvencies as the Treasury moves the taxman higher up the repayment ladder.
Schemes must address 'tricky' question of endgame planning, says Redington
Significantly improved funding levels and bulk annuity options have brought forward the need for defined benefit (DB) trustees to renew their focus on endgame planning.
Hitachi enters first pensioner buy-in with Scottish Widows
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.
No-deal Brexit: Contingency planning for trustees
Andy Palmer says trustees and employers should prepare for a no deal, which could pose big risks to sponsor covenants
One in eight FTSE 100 DB schemes 'still in worry zone'
The aggregate risk across defined benefit (DB) schemes in the FTSE 100 has fallen by almost a quarter since 2017 but 12.5% are still at risk of failure, research suggests.
UPDATED: Nortel scheme secures PPF-plus benefits in £2.4bn buyout with L&G
The beleaguered Nortel Networks UK Pension Plan has entered into a £2.4bn buyout with Legal & General (L&G), insuring members' benefits nearly a decade after its sponsor collapsed.
The return of the buyout: The key factors driving the resurgence of full insurance buyouts
Jonathan Stapleton asks how the combination of improved scheme funding and better insurer pricing could drive a resurgence in the take-up of full insurance buyouts.
Government Actuary: LGPS in better position after funds make 'significant' progress
The Local Government Pension Scheme (LGPS) for England and Wales is in a financially robust position and funds have vastly improved since 2013, according to the Government Actuary's Department (GAD).
Rothesay Life to acquire £860m equity release portfolio as PRA seeks higher security for asset
Rothesay Life has purchased an £860m portfolio of equity release loans as the Prudential Regulation Authority (PRA) is due to end its consultation on insurers' use of the asset to back business.
AA UK Pension Scheme completes £351m buy-in with Canada Life
Canada Life has signed a £351m bulk annuity contract insuring the pensioner liabilities of 2,510 members and dependents in the AA UK Pension Scheme.
Life expectancy improvements grind to a halt; Number of people aged over 90 hits record high
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
DB deficit could be halved by adopting new 'end-game' solutions
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
L&G completes £285m buy-in with Fortune 500 company
A US company has completed a £285m pensioner bulk annuity for around 1,100 of UK members with Legal & General (L&G).
Greene King completes £50m buy-in with Scottish Widows
Pub retailer and brewer Greene King has signed a £50m bulk annuity contract with Scottish Widows for the Spirit Pension Scheme.
BA deal marks 'new chapter' for risk reduction market; £20bn-plus of transactions expected this year as megadeals continue
The Airways Pension Scheme's £4.4bn buy-in with Legal & General, announced this morning, is set to mark a 'fundamental shift' in market dynamics with deal volumes of £20bn-plus for 2018 now looking possible, consultants say.
Airways Pension Scheme lands £4.4bn pensioner buy-in with Legal and General
The British Airways sponsored Airways Pension Scheme (APS) has completed a £4.4bn pensioner bulk annuity buy-in with Legal & General.
PIC racks up £4.5bn of bulk annuity business in 'best ever' year so far
Sales in Pension Insurance Corporation's (PIC) bulk annuity business rose by 73% compared to the same period last year, its half-year results have revealed.
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