The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).
The transaction includes members covered by MNOPF's longevity swap that was completed in 2014 - a captive deal that was structured as an agreement between the trustee and MNOPF IC, a specially established...
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.
Around £1trn of pension risk could be insured by just over a decade’s time as bulk annuity volumes grow rapidly, also boosting insurers’ rankings in the FTSE 100, according to Hymans Robertson.
The Mowlem (1993) Pension Scheme has secured the benefits of around 1,000 members in a buyout with Legal & General (L&G) offering income above compensation levels.