Turnaround company Melrose Industries is seeking to insure the benefits of one of the GKN pension schemes it took on when acquiring the aerospace business earlier this year, according to reports.
Sky News reported on Friday (31 August) that discussions are underway with insurers, such as Aviva and Scottish Widows, to secure a buyout for the smallest of the transferred GKN schemes. The scheme...
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.
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.
The uncertainty surrounding the potential impact of so-called long Covid and behavioural changes heightens the need for schemes to increase their longevity hedging, says Prudential Financial.
Rothesay wrote £7bn of bulk annuity business over the course of last year, with 12 further schemes now benefitting from the insurer’s policies.