Rothesay wrote £7bn of bulk annuity business over the course of last year, with 12 further schemes now benefitting from the insurer’s policies.
With assets under management also growing by £8.3bn to £62bn, the number of annuitants with Rothesay has now reached 845,000, its final results published today (23 February) revealed. Last year's bulk...
Rothesay has concluded a £120m buy-in with the West Ferry Printers Pension Scheme, covering all remaining pensioner and deferred liabilities.
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.
Deutsche Bank AG has agreed a £570m pensioner buy-in with Legal & General for the defined benefit (DB) (UK) Pension Scheme.