InterContinental Hotels agrees £440m all-risk buyout with Rothesay
InterContinental Hotels Group (IHG) has agreed a £440m all-risk buyout for its UK pension plan with Rothesay Life, securing improved benefits for members owing to suitable market conditions.
The £440m deal will see the approximate 3,000 members of the InterContinental Hotels UK Pensions Plan (IHUKPP) - 1,100 pensioners and 1,800 deferred members - transfer from the group to the insurer...
More on Risk Reduction
Industry Voice: The bulk annuity market for small schemes
Although 2020 was a challenging year, Aon's Dave Barratt says the bulk annuity market was very resilient, with a well-functioning insurance market, large volumes of business written and 2020 finishing up as the second busiest year on record.
Long-term Covid uncertainty makes longevity hedging more valuable
The uncertainty surrounding the potential impact of so-called long Covid and behavioural changes heightens the need for schemes to increase their longevity hedging, says Prudential Financial.
Rothesay secures £7bn of pension benefits
Rothesay wrote £7bn of bulk annuity business over the course of last year, with 12 further schemes now benefitting from the insurer’s policies.
Deutsche Bank agrees £570m buy-in with L&G
Deutsche Bank AG has agreed a £570m pensioner buy-in with Legal & General for the defined benefit (DB) (UK) Pension Scheme.
Insurers set to reach FTSE heights with £1trn of pension risk transferred in ten years
Around £1trn of pension risk could be insured by just over a decade’s time as bulk annuity volumes grow rapidly, also boosting insurers’ rankings in the FTSE 100, according to Hymans Robertson.