The 3i Group Pension Plan has agreed a £95m bulk annuity transaction with Legal & General (L&G).
The deal covers around 20% of current pensioner liabilities and, in conjunction with a £200m buy-in with Pension Insurance Corporation (PIC) in 2017, means approximately 60% of pensioner liabilities are...
Longevity swap usage is expected to grow further as more reinsurers enter the market to hedge the risk of deferred members, according to Mercer.
The Countrywide Farmers Retirement Benefits has secured a £100m buy-in with Legal & General, insuring members’ benefits above Pension Protection Fund (PPF) compensation levels.
The LV= Employee Pension Scheme has agreed a buy-in of around £800m with Phoenix Life after converting an existing longevity swap.
The Premaberg Holdings Limited Retirement Benefits Plan has agreed a £5m buy-in transaction with Just Group.
Amy Kessler, Professor Andrew Cairns, Professor David Blake and Marsha Kessler look at how schemes can make longevity assumptions post-Covid