The 3i Group Pension Plan has agreed a £95m bulk annuity transaction with Legal & General (L&G).
The deal covers around 20% of current pensioner liabilities and, in conjunction with a £200m buy-in with Pension Insurance Corporation (PIC) in 2017, means approximately 60% of pensioner liabilities are...
Schemes are increasingly looking at longevity hedging as part of their de-risking process, according to a survey by Insight Investment.
Insurers are now able to accommodate up to £30bn of bulk annuity transactions every year with no impact on pricing, according to Lane Clark & Peacock (LCP).
Increasing demand for global longevity reinsurance could lead to higher bulk annuity prices but less exact matching for longevity hedging, says Mercer.
The Electricity North West Group of the Electricity Supply Pension Scheme (ESPS) has invested in an £805m pensioner buy-in with Scottish Widows.
Zurich has agreed to insure £800m of longevity risk for the pensioners of a FTSE 100-sponsored pension scheme.