LCP

Just Retirement has completed a £36.5m medically underwritten buy-in with a shipping firm and says it is on target to write £80m of bulk annuity business in the year to June.

The Institute and Faculty of Actuaries (IFoA) has appointed LCP partner Fiona Morrison as president-elect after years of volunteering for the organisation.

LCP has boosted the number of partners within its team to 98 following five promotions and considerable growth over the past five years.

The Pensions Regulator's (TPR) head of defined contribution (DC) regulation Darran Burton has joined LCP on a part-time secondment for an initial six-month period.

The European Commission has published proposals to overhaul its pension directive, which is intended "improve governance, transparency and cross-border activity".

LCP has named former Rothesay Life co-head of business development Myles Pink as a principal in its pension buyout practice.

Insurers and consultants have set up an industry-wide committee to develop a good practice guide for medically underwritten bulk annuity transactions.

The Trustee of the Church Workers Pension Fund has completed a £100m buy-in with Prudential.

Global firms may be underestimating their defined benefit (DB) liabilities by "tens of billions of euros" because of differing longevity across the countries in which they operate, LCP warns.

Trustees should explore reshaping benefit structures before entering into a buyout to avoid paying over the odds for inflation hedging, say consultants.