Risk Reduction

The TI Group Pension Scheme, sponsored by industrial technology firm Smiths Group, has completed a £142m buy-in with Aviva.

The Continuous Mortality Investigation (CMI) is asking for industry views to address the “exceptional” mortality data seen throughout the coronavirus pandemic as it updates its mortality projections model.

The bulk annuity market’s ‘repeat buyers’ will continue to drive market volumes through 2020 with cautious insurers on the hunt for “a track record of successful deals”, Aon says.

A burgeoning superfund market could be on the cards within three years as defined benefit (DB) scheme trustees and sponsors face myriad legislative, economic, and capacity issues, says Lane Clark & Peacock (LCP).

Around £12.6bn of buy-ins and buyouts were completed in the first half of 2020 despite the onset of the Covid-19 pandemic, according to Lane Clark & Peacock (LCP) analysis.

Pension Insurance Corporation (PIC) Group secured £3.5bn of defined benefit (DB) scheme liabilities throughout the first half of the year, although adjusted profits fell by nearly three-quarters.

This year might prove to be a blip in the growth of the bulk annuity market despite volumes trending towards £25bn, according to Mercer.

The Marathon Service (GB) Limited Pension and Life Assurance Scheme has completed a £610m full buy-in with Rothesay Life, covering the benefits of more than 1,400 members.

The Hitachi UK Pension Scheme has agreed and completed a £275m buy-in deal with Legal & General (L&G) covering the remaining benefits in the scheme.

The Siemens Benefits Scheme has agreed a £530m buy-in with Legal & General (L&G), insuring the benefits of more than 2,300 pensioner members.