Prudential Retirement has reinsured benefits for around 22,500 pensioners, after taking on liabilities from Rothesay Life in their sixth deal together.
The deal will see Prudential take on the longevity risk for around £960m of pension liabilities for eight pension schemes. The agreement follows the two firms' first deal together in 2011, which saw...
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.