The number of FTSE 100 defined benefit (DB) schemes at least 80% funded on a buyout basis almost doubled over 2016, according to Lane Clark & Peacock (LCP).
Around one in five were funded to at least this level at the end of December 2017, the consultancy said, up from one in eight at the end of 2016. Meanwhile, on average, FTSE 100 schemes are 10 percentage...
The ICL Group Pension Plan has entered into a £3.7bn intermediated longevity swap via a Guernsey-based captive, with Swiss Re reinsuring the risk.
The Nortel Networks UK Pension Plan has agreed a further £105m buyout with Legal & General (L&G), topping up the benefits agreed in a prior deal.
There have now been more than 30 longevity swaps over £1bn publicly announced. The full list, provided by Willis Towers Watson and through PP research, is as follows...
The Association of British Insurers (ABI) Pension & Assurance Scheme has insured benefits for 191 members in a £26m buy-in with Aviva.
The defined benefit (DB) scheme of Shepherd Foods (London) has completed a £3m buyout with Aviva, insuring the benefits of 13 pensioner and deferred members.