MIRA Retirement Benefits Scheme (MIRARBS) has secured a £70m buyout after agreeing to compromise its sponsor's statutory debt as part of a corporate restructuring.
The deal with Pension Insurance Corporation secures the pensions of the scheme's 600 members at approximately 105% of Pension Protection Fund (PPF) level, but below the face value of the benefits. The...
Rothesay has concluded a £120m buy-in with the West Ferry Printers Pension Scheme, covering all remaining pensioner and deferred liabilities.
The Metropolitan Tower Life Insurance Company (MetLife) has reinsured approximately $5bn (£3.6bn) of Rothesay pension liabilities.
DB scheme consolidator Stoneport hopes to get 100 schemes signed up by the end of next year, but employer covenant will be vital, chief executive Richard Jones tells James Phillips.
The outlook for future longevity in the UK has not necessarily worsened as a result of the coronavirus pandemic, Aon says.
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.