The bulk annuity market had a record final quarter in 2015 as buy-in and buyout deals totalled £5.4bn, according to LCP.
This was mainly driven by pension schemes and insurers rushing to close transactions before the introduction of Solvency II on 1 January 2016. This European regulation introduced tougher capital buffers...
Defined benefit (DB) scheme trustees are looking to their schemes to provide them with better technological support, with eight in ten agreeing ad-hoc and online meetings will permanently replace the pre-Covid quarterly meeting cycle.
Average transfer takes 11.9 days
The Aberdeen City Council Transport Fund has agreed a £230m buy-in with Rothesay in the insurer’s first deal with a Local Government Pension Scheme (LGPS) fund.
The Legal & General (L&G) Group UK Senior Pension Scheme has agreed an assured payment policy (APP) deal with its insurer sponsor.
The Debenhams brand and website has been acquired by online fashion retailer Boohoo for £55m, although the pension scheme, shops, and stock will not be purchased.