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.
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.