Four bulk annuity transactions worth over £1bn were transacted by Scottish Widows in the first half of the year, according to its half yearly report.
In its report, published on 01 August, Scottish Widows - part of Lloyds Banking Group - said it completed four deals generating £1.1bn of new business premiums in the first half. The report shows Lloyds...
Pension Insurance Corporation (PIC) has agreed a £750m bulk annuity transaction, converting a pensioner longevity swap held by the Scottish Hydro Electric Pension Scheme (SHEPS) into a buy-in.
There has been a 30% reduction in the number of small scheme buy-in and buyout transactions, highlighting how insurer attention has shifted towards larger deals.
Aviva Life and Pensions UK has completed a £1.7bn bulk annuity buy-in with the Aviva Staff Pension Scheme.
Many schemes are actively thinking about defined benefit (DB) consolidation and are waiting in the wings for the superfunds to prove themselves before engaging, Clara says.
Mega-deals have dominated the buy-in and buyout market this year, limiting insurer appetite for smaller transactions. John Breedon looks at how small schemes can get ahead for next year.