The bulk annuity market is set to grow to historically high levels in 2019 with £30bn worth of deals expected over the year, according to Willis Towers Watson (WTW).
These levels will see 2019 beat the record of 2018 with current volumes at £18.6bn, which broke 2014's record of £13.2bn. Longevity swaps are set to double compared with 2018, to over £10bn, and the...
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.
Deutsche Bank AG has agreed a £570m pensioner buy-in with Legal & General for the defined benefit (DB) (UK) Pension Scheme.