UK - The pension buyout market could be worth £10bn (US$19.5bn) by the end of the year, according to Aon.
Aon said the number of large transactions above £100m were the reason for the rapid growth. Average quoted scheme values have risen from £5m last year to £25m over the past two quarters.
In all, Aon reported some 401 quotes in the first three months of the year, with total scheme values of £46.1bn. In comparison, the last quarter if 2007 saw 432 quotes with a value of £40.9bn.
This was aided in part by effects of price competition among the industry players and the increase in long-dated corporate bond yields as a result of the credit crunch.
If these positive conditions continue, Aon said, the value of the UK market could reach £10bn by the end of the year but cautioned this may not last.
Paul Belok, principal and actuary, Aon Consulting, said: "There are reasons to believe that the current window of opportunity to remove investment and longevity risk from pension schemes at an attractive price will not last indefinitely.
"Nevertheless, there is significant demand at current prices and we expect that many of the cases that are actively investigating the market will transact, which will help sustain levels of business over the next few months."
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