SSE completes three de-risking deals worth £1.2bn
Scottish and Southern Energy (SSE) has entered into two buy-ins with Pension Insurance Corporation (PIC), and a longevity swap with Legal & General (L&G).
The three deals are together worth £1.2bn and cover nearly 4,000 members in the Scottish Hydro-Electric Pension Scheme (SHEPS) and the Scotia Gas Networks Pension Scheme (SGNPS). The SHEPS benefitted...
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Phoenix concludes £2.5bn of bulk annuities after £730m buy-in with own scheme
Phoenix Group completed £2.5bn of buy-ins and buyouts over the course of 2020, including a bulk annuity deal with one of its own schemes.
CMI finds modest fall in cohort life expectancy after zero-weighting Covid data
The Continuous Mortality Investigation (CMI) has found a lower cohort life expectancy for both men and women in its 2020 table, even after zero-weighting data related to Covid.
Rothesay agrees £120m buy-in with Reach
Rothesay has concluded a £120m buy-in with the West Ferry Printers Pension Scheme, covering all remaining pensioner and deferred liabilities.
MetLife reinsures $5bn of Rothesay liabilities
The Metropolitan Tower Life Insurance Company (MetLife) has reinsured approximately $5bn (£3.6bn) of Rothesay pension liabilities.
Industry Voice: The bulk annuity market for small schemes
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.
