Longevity Risk
Market growing for longevity swaps for deferred members
Longevity swap usage is expected to grow further as more reinsurers enter the market to hedge the risk of deferred members, according to Mercer.
Prudential Retirement completes $1.7bn of longevity reinsurance
Prudential Retirement reinsured $1.7bn (£1.4bn) of UK pension scheme longevity risk in the first half of the year, it has revealed.
UBS completes £1.4bn longevity swap with Zurich and Canada Life
The UBS (UK) Pension and Life Assurance Scheme has hedged the longevity risk of around half its defined benefit (DB) liabilities through a £1.4bn longevity swap completed with Zurich and Canada Life Reinsurance.
Covid-19 causes little direct impact on DB liabilities
Just a fraction of liability growth since the start of the year will be offset by the impact of excess deaths caused by Covid-19, says Lane Clark & Peacock (LCP).
The changing ways of hedging longevity risk
Nikhil Patel looks at how schemes have hedged longevity over the last decade, and how this will develop in the future.
Preparing for de-risking transactions
With bulk annuity markets becoming increasingly busy before Covid-19, James Geer looks at what steps trustees can take to improve their chances of transacting.
De-risking in a crisis: What you can do during the coronavirus pandemic
While market conditions may have put a dent in your de-risking plans, there is still plenty of preparation you can do and opportunities to take advantage of, says Michael Abramson.
Managing the next biggest liability risk
Very few schemes have protection in place against longevity risk in their scheme liabilities. Howard Kearns explains why and how to rectify this
Lloyds schemes agree £10bn longevity swap with Pacific Life Re
Three Lloyds Banking Group pension schemes have transferred £10bn of longevity risk to Pacific Life Re in the second-largest longevity swap ever.
Longevity swap market to post record year
Longevity swap transactions will hit a record-breaking level of £25bn this year, Willis Towers Watson has predicted.
Longevity hedging most popular tool in endgame planning
Schemes are increasingly looking at longevity hedging as part of their de-risking process, according to a survey by Insight Investment.
Zurich insures £800m of FTSE 100 scheme longevity risk
Zurich has agreed to insure £800m of longevity risk for the pensioners of a FTSE 100-sponsored pension scheme.
How wearables will disrupt life expectancy
There are a wide range of possible life expectancy disruptors. PwC's Paul Kitson looks at how one of these, wearables, could impact schemes.
CMI data shows further mortality improvements
Pension schemes face higher liabilities as improvements in mortality rates trend towards their highest level in a decade.
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.
PIC signs £5.8bn of bulk annuity business in H1
Pension Insurance Corporation (PIC) has so far racked up £5.8bn of buyouts and buy-ins with defined benefit schemes this year, while reinsuring £7bn of longevity risk, it has revealed.
How Rolls-Royce completed its £4.6bn buyout with L&G
Following Rolls-Royce's record buyout earlier this month, James Phillips speaks to some of the key players about the process.
Prudential Retirement reinsures $2.6bn of UK pension risk
Prudential Retirement has completed around $2.6bn (£2bn) of reinsurance contracts for UK pension scheme longevity risk since the start of the year, it has disclosed.
Aviva completes £1bn longevity reinsurance deal with Prudential
The Prudential Insurance Company of America (PICA) has agreed to assume approximately £1bn of pension liabilities from Aviva's bulk annuity business.
Keeping up with UK longevity trends
David Weeks says pension schemes need to give attention to risks that flow from longevity trends.
MMC Pension Fund completes mammoth £3.4bn longevity risk transfer
The Marsh & McLennan Companies (MMC) UK Pension Fund has finalised a £3.4bn longevity risk transfer to the global reinsurance market through a captive solution.
Understanding the limitations of the CMI longevity model
The Continuous Mortality Investigation's (CMI's) longevity model is a useful projection tool for schemes but, as Amy Kessler explains, it has key limitations.
A dip or a blip: What do falling life expectancies mean for DB schemes?
Mortality improvements have declined for yet another year, ducking previous estimates. James Phillips explores what this means for pension schemes
Mortality improvements in the noughties may have been the blip
Higher health and social care spending between 2000 and 2010 may have caused a blip in longevity estimates by accelerating improvements, according to Barnett Waddingham.
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