SWITZERLAND/UK - Swiss Re has confirmed it is to launch into the pension fund buyout market in September.
The company said it would provide full buyout options along with products to manage interest and inflation initially targeting UK and European schemes and then look to the US.
Swiss Re's announcement came a week after Lehman Brothers refused to confirm it was entering the buyout arena despite rumours to the contrary (www.globalpensions.com).
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.
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