Bulk annuity sales at Just Group have nearly doubled, with total deals amounting to nearly £1.1bn, the insurer's nine-month results reveal.
As of 30 September, Just reported £1,081m of bulk annuity deals, up from £718m at the end of June, and 91% higher than the £564m recorded in the same period of 2017.
While the insurer does not provide breakdowns for buy-ins and buyouts, or generally publicise individual deals, it did complete a £180m buy-in with William Hill in May this year.
Just's updated figure means the total value of disclosed bulk annuity deals for 2018 now stands at £17.1bn - with longevity swaps included, this rises to £19.4bn - continuing to boost an already record year for the market.
The insurer hinted further deals from a "buoyant" marketplace were in the pipeline, but added it was "being increasingly selective to maximise returns".
Across the business as a whole, new business sales jumped by 40% in the period from January to September this year compared to the same period last year. Around £2.3bn of new business was recorded, including bulk annuity deals, with a further £627m sales of guaranteed income for life products.
Group chief executive Rodney Cook said: "I am pleased to report another excellent quarter, demonstrating the strength of the group's positioning and strategy. The markets in which we operate are generally buoyant. The DB market has seen increased activity all year and the industry pipeline is very strong.
"In the guaranteed income for life market, shopping around continues to grow as a proportion of the total, helped by Financial Conduct Authority initiatives."
But he added that proposed strengthened capital requirements for insurers holding equity release mortgages as assets - put forward by the Prudential Regulation Authority earlier this year - means Just has "strengthened our pricing discipline".
"While the price increases will affect sales in the final quarter, we remain confident of delivering a strong performance for the year.
The number of defined benefit (DB) scheme members with benefits protected by an insurer will double by the middle of the decade, according to Lane Clark & Peacock (LCP).
Aviva Life & Pensions has concluded an £875m buy-in with its own staff pension scheme, following on from a similar transaction last year.
Just Group has completed a £74m pensioner buy-in with the UK pension scheme of a US-listed engineering business.
The Smiths Industries Pension Scheme has secured a £146m buy-in with Canada Life in its fourth bulk annuity and its sponsor’s tenth overall.
The Prudential Staff Pension Scheme has entered into a £3.7bn longevity swap with Pacific Life Re, insuring the longevity risk of over 20,000 pensioners.