The Co-operative Pension Scheme (Pace) has entered into its fourth bulk annuity transaction of 2020, agreeing a £350m buy-in with Aviva.
The risk transfer deal will cover the benefits of 2,300 members and takes advantage of an umbrella contract with Aviva agreed as part of a £1bn transaction earlier this year. The scheme had also completed...
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.