The Smiths Industries Pension Scheme has secured a £176m buy-in with Canada Life, its second with the insurer.
The buy-in is approximately 6% of the £3bn scheme's liabilities, and is Canada Life's first announced deal of 2019. The scheme has now conducted three buy-ins across two insurers, and took advantage...
Longevity swap usage is expected to grow further as more reinsurers enter the market to hedge the risk of deferred members, according to Mercer.
The Countrywide Farmers Retirement Benefits has secured a £100m buy-in with Legal & General, insuring members’ benefits above Pension Protection Fund (PPF) compensation levels.
The LV= Employee Pension Scheme has agreed a buy-in of around £800m with Phoenix Life after converting an existing longevity swap.
The Premaberg Holdings Limited Retirement Benefits Plan has agreed a £5m buy-in transaction with Just Group.
Amy Kessler, Professor Andrew Cairns, Professor David Blake and Marsha Kessler look at how schemes can make longevity assumptions post-Covid