UK - Buyout provider Paternoster will have the ability to write new business after shareholders agreed to inject £5m (US$8m) of new capital into the group.
Last Spring the company announced it had stopped accepting new business while there was continuing uncertainty about default risk in the credit markets.
However, Paternoster said it would write new business only once it "raised further money or when there is significant improvement in the economic outlook".
It added the new capital would also allow the group to participate in the longevity-only risk transfer market.
It also said it predicted greater demand in the future from companies to buy out defined benefit pensions scheme obligations as credit markets improve and a more immediate demand for longevity-only risk transfer solutions.
But, Paternoster said it will make 24 people redundant - reducing its headcount from 130 to 106.
And it announced Mark Wood - formerly the firm's chief executive - would become deputy chairman and be succeeded by Ed Jervis, previously commercial director.
Jervis said: "Although credit markets have improved over recent months, the market for defined benefit pension scheme buy outs will remain subdued for some time yet. At the same time many corporate sponsors face pressure on their cash flows. As a result, pension trustees and their corporate sponsors' desire to reduce risk will increasingly focus on longevity-only solutions."
Wood said: "Paternoster's board and shareholders are determined that the company will remain a leader in what will once again be a rapidly growing market. Meanwhile, the proper governance of our business and of course the interests of our policyholders are of paramount importance."
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.
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