Legal and General (L&G) has completed its first bulk annuity deal in the US, entering a joint agreement with Prudential Insurance Company of America to insure $900m (£595m) of liabilities in the Royal Philips scheme.
The transaction will split the payment of pensions to the scheme's 14,000 pensioner members equally between the two insurers. A third company, American United Life Insurance Company, will insure 3,000...
The Old British Steel Pension Scheme (OBSPS) has agreed a £2bn full buy-in with Pension Insurance Corporation (PIC), one step closer to exiting Pension Protection Fund (PPF) assessment.
Much like when selling a house, DB plans need to tidy up before approaching the bulk annuity market, says David Ellis.
Just Group has completed a £340m buy-in with the Ibstock Pension Scheme in the insurer’s largest ever bulk annuity transaction.
Punter Southall has launched a defined benefit (DB) scheme consolidator in a bid to allow small schemes to cut their running costs, reduce risk and improve benefit security and governance.
With a recent rise in the number of smaller schemes undertaking bulk annuity transactions, Charlotte Quarmby sets out why now might be the right time for smaller pension schemes looking to de-risk.