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 Centre for Social Justice is calling for the state pension age to be raised to 70 by 2028 and to 75 by 2035, a much faster rise than currently planned.
The High Court has blocked the £12bn transfer of Prudential's annuity book to Rothesay Life, citing the insurer's lack of "established reputation" and differing "capital management policies".
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.