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.
The transaction follows the liquidation of its sponsor, Sovereign Hospital Services, which entered into liquidation following the collapse of its owner, Carillion Group, in 2018. Three years after the...
The Metropolitan Tower Life Insurance Company (MetLife) has reinsured approximately $5bn (£3.6bn) of Rothesay pension liabilities.
Although 2020 was a challenging year, Aon's Dave Barratt says the bulk annuity market was very resilient, with a well-functioning insurance market, large volumes of business written and 2020 finishing up as the second busiest year on record.
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.