The HSBC Bank (UK) Pension Scheme has hedged its longevity risk with Prudential Insurance Company of America (PICA) in the second-largest ever deal of its type.
The insurer, a subsidiary of Prudential Financial, has covered the longevity risk of around £7bn of pensioner liabilities, providing long-term protection to the scheme. The deal uses a captive solution...
Interest around DB consolidators is high but there remains regulatory uncertainty around their future. Lesley Carline looks at what the future might hold for this section of the market.
The Carter & Parker Limited Staff Retirement Benefits Plan (1975) has agreed a £9.3m bulk annuity deal with Canada Life.
The Aegon UK Staff Retirement and Death Benefit Scheme has secured a £144m buy-in with Phoenix, covering around a quarter of pensioner liabilities.
Pension Insurance Corporation (PIC) has agreed a £750m bulk annuity transaction, converting a pensioner longevity swap held by the Scottish Hydro Electric Pension Scheme (SHEPS) into a buy-in.
There has been a 30% reduction in the number of small scheme buy-in and buyout transactions, highlighting how insurer attention has shifted towards larger deals.