There have now been a total of around 50 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...
The sortable table below shows the biggest bulk annuity deals announced since 2007.
Schemes are increasingly looking at longevity hedging as part of their de-risking process, according to a survey by Insight Investment.
Insurers are now able to accommodate up to £30bn of bulk annuity transactions every year with no impact on pricing, according to Lane Clark & Peacock (LCP).
Increasing demand for global longevity reinsurance could lead to higher bulk annuity prices but less exact matching for longevity hedging, says Mercer.
The Electricity North West Group of the Electricity Supply Pension Scheme (ESPS) has invested in an £805m pensioner buy-in with Scottish Widows.
Zurich has agreed to insure £800m of longevity risk for the pensioners of a FTSE 100-sponsored pension scheme.