Prudential Retirement has completed around $2.6bn (£2bn) of reinsurance contracts for UK pension scheme longevity risk since the start of the year, it has disclosed.
The US life insurer - a branch of Prudential Financial - said the cover secures the risk of around 16,000 pensioners and the volume represents an "unprecedented start to the 2019 UK pension risk transfer...
Many schemes are actively thinking about defined benefit (DB) consolidation and are waiting in the wings for the superfunds to prove themselves before engaging, Clara says.
Mega-deals have dominated the buy-in and buyout market this year, limiting insurer appetite for smaller transactions. John Breedon looks at how small schemes can get ahead for next year.
Small schemes are facing “obvious challenges” in grabbing insurer attention as “jumbo” deals are beginning to typify the bulk annuity market, Aon says.
As DB pension schemes de-risk, longevity risk becomes more and more important says Howard Kearns, Longevity Pricing Director at Insight Investment
Almost £35bn of defined benefit (DB) liabilities have now been insured this year after yet another giant buy-in by the Asda Group Pension Scheme with Rothesay Life.