Pru reinsures $1.2bn of PIC's longevity risk
Prudential Insurance Company of America has agreed to reinsure around $1.2bn (£920m) of Pension Insurance Corporation's (PIC) longevity risk.
The deal covers around 4,000 pensioners across four defined benefit (DB) schemes, and is the two companies' fifth transaction together since their partnership began in 2015. It reinsures the longevity...
More on Risk Reduction
Scottish Widows completes £2bn de-risking deals in 2019
Scottish Widows completed five bulk annuity transactions in 2019, with liabilities insured exceeding £2bn.
Co-op scheme agrees £1bn buy-in with PIC
The Co-operative Pension Scheme (Pace) has agreed a £1bn buy-in with Pension Insurance Corporation (PIC), insuring benefits for around 7,000 members.
UPDATED: The biggest buy-ins and buyouts announced since 2007
There have now been a total of over 50 buy-in and buyout deals of over £500m announced since 2007. The full list is as follows...
AIB secures £1.1bn de-risking deal targeting full buy-in
Allied Irish Bank (AIB) has secured an £850m buy-in for its UK pension scheme with Legal & General (L&G).
MNOPF completes £1.6bn buy-in with PIC
The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).
