MMC UK Pension Fund's Frank Oldham tells Stephanie Baxter how its £3.4bn longevity swap came about and why it chose a captive structure
Given longevity risk is one of the major challenges for pension schemes, it was no surprise to see a healthy £6.4bn worth of longevity swap deals in 2017. The largest of the year was the Marsh & McLennan...
Rothesay has concluded a £120m buy-in with the West Ferry Printers Pension Scheme, covering all remaining pensioner and deferred liabilities.
The Metropolitan Tower Life Insurance Company (MetLife) has reinsured approximately $5bn (£3.6bn) of Rothesay pension liabilities.
Although 2020 was a challenging year, Aon's Dave Barratt says the bulk annuity market was very resilient, with a well-functioning insurance market, large volumes of business written and 2020 finishing up as the second busiest year on record.
The uncertainty surrounding the potential impact of so-called long Covid and behavioural changes heightens the need for schemes to increase their longevity hedging, says Prudential Financial.
Rothesay wrote £7bn of bulk annuity business over the course of last year, with 12 further schemes now benefitting from the insurer’s policies.