buyout
Scottish Widows completes £2bn de-risking deals in 2019
Scottish Widows completed five bulk annuity transactions in 2019, with liabilities insured exceeding £2bn.
MNOPF completes £1.6bn buy-in with PIC
The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).
PIC posts record year for bulk annuities
Pension Insurance Corporation (PIC) insured £7.2bn of scheme liabilities over the course of 2019, recording more new business than in any year prior.
The challenges of a self-sufficiency approach
A self-sufficiency approach is not riskless and trustees must consider covenant strength and longevity exposure. Chris Ramsey looks at the key considerations of running schemes on.
£30bn bulk annuity market to be the 'new normal'
Insurers are now able to accommodate up to £30bn of bulk annuity transactions every year with no impact on pricing, according to Lane Clark & Peacock (LCP).
Bulk annuity market to 'top £0.5trn in 2020s'
The value of UK bulk annuity deals is set to quadruple in the 2020s when compared to this decade, Mercer has predicted.
Enabling the endgame: Why IRM has been crucial to bumper bulk annuity deals
Greater regulatory focus on covenant, holistic risk management, and long-term targets has helped proactive schemes approach their endgames earlier, says Adolfo Aponte.
Number of small scheme bulk annuities falls 30% in five years
There has been a 30% reduction in the number of small scheme buy-in and buyout transactions, highlighting how insurer attention has shifted towards larger deals.
2019's 'jumbo' bulk annuities bigger than any full-year volume
Small schemes are facing “obvious challenges” in grabbing insurer attention as “jumbo” deals are beginning to typify the bulk annuity market, Aon says.
Exclusive: FTSE 100 risk settlement transactions hit £70bn
FTSE 100 risk settlement transactions have reached £70bn as a third of these firms remove longevity risk, according to Aon.
Five stories you may have missed this week
This week’s top stories include Thomas Cook’s four pension schemes being poised to enter a Pension Protection Fund assessment period.
Schemes urged to act on bulk annuities as funding 'crumbles'
Defined benefit (DB) schemes should act now to insure members’ benefits before an “anomaly” in the markets is corrected, Prudential Retirement has said.
FTSE 350 schemes nearing buyout exposed to excessive risk
Growing market volatility could adversely affect defined benefit (DB) schemes nearing buyout over the next five years, Barnett Waddingham says.
L&G agrees £35m buyout with Edwards Wildman Palmer scheme
Legal & General (L&G) has entered into an agreement with US law firm Locke Lord for a £35m buyout of UK-based Edward Wildman Palmer pension scheme.
Rothesay Life secures record year with £3.7bn bulk annuity deals in H2
Rothesay Life has completed £3.7bn of bulk annuity transactions so far in the second half of this year, according to its latest trading update.
Exclusive: 90% of DB schemes have set a long-term funding target
Almost all UK defined benefit (DB) schemes (92%) have set clear long-term funding targets, with most focused on buyout or self-sufficiency, according to Aon.
Just Group exploring DB de-risking partnership while bulk annuity deals fall
Just Group is exploring a defined benefit (DB) de-risking partnering approach as part of the development of a capital light fee business, according to its half-year results.
Most schemes targeting self-sufficiency over buyout
The majority of pension schemes that are using a long-term funding target are focused on self-sufficiency, Aon research has revealed.
GMP equalisation now top priority for schemes
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Bulk annuity market breaks yet another record with £17bn of first half deals
Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.
Plumbing pension scheme valuation completed as future accrual ceases
The Plumbing and Mechanical Services (UK) Pension Scheme has completed its 2017 valuation, calculating scheme assets were enough to cover 102% of its liabilities.
PICA launches reinsurance counterparty to back UK bulk annuities
Prudential Insurance Company of America (PICA) has launched a reinsurance counterparty, lending support to insurers that account for more than 90% of the UK pension risk transfer market.
Applying behavioural science to pensions risk settlement
Tendencies to prefer the status quo and familiar names can result in slower or more irrational decisions, Aon says. James Phillips explores the impediments to risk settlement.
Five stories you may have missed this week
This week's top stories included The Pensions Regulator launching a consultation on the future of trusteeship.
