NN Life has completed a €13.5bn (£12.1bn) longevity transaction covering a portfolio of annuity policies for over 200,000 pensioners and dependents.
The transaction will reduce the Dutch insurer's exposure to longevity risk and further strengthen its capital position under Solvency II.
The deal was advised by Aon - which provided the insurer advice on portfolio-specific best estimate longevity assumptions, ran a broking process and put in place a high-resolution transaction cashflow model to ensure consistent pricing.
The lack of information cohesion across the industry is preventing savers from receiving true value for money from their workplace scheme, the Finance Technology Research Centre (FTRC) says.
Almost half (49%) of the respondents to a Professional Pensions poll disagree that the trend toward sole corporate trusteeship is positive.
Despite a surge of small spikes in the number of deaths in the last month on a week-by-week basis, overall levels remain close to those recorded last year, says the Continuous Mortality Investigation (CMI).
Nest Insight and the Department for Work and Pensions (DWP) are set to conduct research to examine the financial impact of Covid-19 on self-employed people.
Warnings from pension companies to savers who are looking to transfer their pension somewhere that does not look right are often ignored, says Phoenix Group.