UK - Troubled corporate sponsors will be a major source of insurance business over the coming months, Pension Corporation says.
But they added they expected to see significant opportunities as a result of the current economic downturn - and noted its insurance solutions could provide members a greater level of benefits to pension fund members than they might have otherwise received from the Pension Protection Fund.
Pension Corporation group chief executive Edmund Truell said: "The principles of pension risk transfer are now well understood. Trustees, their advisers and sponsors widely recognise that pension risks are not comfortable bedfellows with corporate balance sheets.
"Pension Corporation is unusual in its ability to provide combined corporate finance and insurance solutions that are designed to meet our customers' needs in a safe and secure way. We look forward to building on this very substantial progress in 2009."
Pension Corporation also revealed it had averaged over 70% of insurance company assets in cash or gilts during the year - and had a regulatory capital ration 232% of the required minimum.
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Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point