Phoenix Group completed £2.5bn of buy-ins and buyouts over the course of 2020, including a bulk annuity deal with one of its own schemes.
Aviva secured record net flows of £8.5bn into its saving and retirement products in 2020, while bundled workplace assets under management grew by 14% to £81bn, its annual results reveal.
Rothesay has concluded a £120m buy-in with the West Ferry Printers Pension Scheme, covering all remaining pensioner and deferred liabilities.
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.
Legal & General (L&G) agreed over £7bn of buy-ins and buyouts with UK schemes over the course of 2020, it has confirmed.
The Aberdeen City Council Transport Fund has agreed a £230m buy-in with Rothesay in the insurer’s first deal with a Local Government Pension Scheme (LGPS) fund.
The defined benefit (DB) scheme of Evonik Holdings UK has agreed a £544m full buy-in with Legal & General (L&G) Assurance Society.