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Hymans Robertson's Michael Abramson
Last month the Prudential Regulatory Authority (PRA) published a letter to chief risk officers at bulk annuity insurers regarding their use of so-called “funded reinsurance”.
These reinsurance arrangements are similar to an insurer doing its own buy-in behind the scenes. The insurer takes a portion of the buy-in/buyout premium received from the pension scheme and passes...
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