longevity swap
Buy-in and buyout volumes to reach £30-£40bn in 2021; Superfund 'floodgate' may open
Between £30bn and £40bn of pension risk is expected to be transferred to insurers via buy-ins and buyouts this year, Aon says.
BBC agrees £3bn longevity swap while Aon scheme completes £510m buy-in
The BBC Pension Scheme has completed a £3bn longevity swap deal with Zurich and Canada Life Reinsurance, covering the risk of pensioner and dependent members.
BBC enters £3bn longevity swap with Zurich and Canada Life
The BBC Pension Scheme has completed a £3bn longevity swap deal with Zurich and Canada Life Reinsurance, covering the risk of pensioner and dependent members.
Barclays Retirement Fund completes £5bn longevity swap with Reinsurance Group of America
The Barclays Bank UK Retirement Fund has completed a £5bn longevity swap with Reinsurance Group of America (RGA).
Two in five schemes expect to transfer risk within three years, finds Willis Towers Watson
Two in five UK defined benefit (DB) schemes expect to complete a bulk annuity or longevity swap transaction within the next three years, Willis Towers Watson research finds.
Schemes to transfer £50bn of risk to insurers this year
Around £50bn of risk will be transferred to the bulk annuity and longevity swap market by the end of the year despite a slow start to the market, Aon says.
Bulk annuity market on course for second busiest year after £12.6bn first half
Around £12.6bn of buy-ins and buyouts were completed in the first half of 2020 despite the onset of the Covid-19 pandemic, according to Lane Clark & Peacock (LCP) analysis.
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.
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.
Bulk annuity 'end of year sale' possible as total volumes expected to halve
Covid-19 has caused a slowdown in the number of bulk annuity transactions, with buy-ins and buyouts expected to amount to a maximum of £25bn this year, Willis Towers Watson says.
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.
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.
Five stories you may have missed this week
This week's top stories included the government admitting that expatriate pensioners across the UK and EU may lose access to their pensions if Brexit negotiations conclude with no deal.
L&G conducts £300m longevity swap
Legal & General (L&G) has entered the small scheme longevity insurance market after completing a £300m longevity swap with a pension fund.
Bulk annuity market in record-breaking first half
Around £8bn of buy-ins and buyouts were completed in the first half of this year, writing the highest volume of deals of any first half to date.
Aon grows risk settlement team with hire from Scottish Widows
Aon has appointed Mike Edwards as a partner in its risk settlement team to support the growth of its business offerings in the UK.
How 2017's largest longevity deal came to fruition
MMC UK Pension Fund's Frank Oldham tells Stephanie Baxter how its £3.4bn longevity swap came about and why it chose a captive structure
Scottish Widows completes £1.3bn longevity reinsurance deal with Prudential Financial
Scottish Widows has reinsured the longevity risk for around £1.3bn of its bulk annuity liabilities with The Prudential Insurance Company of America (PICA).
'Exceptional' bulk annuity pricing to continue until 2018
Defined benefit (DB) schemes are not taking advantage of "exceptional" pricing for bulk annuities, with most schemes insured in H1 being repeat buyers, Aon Hewitt has said.
Buy-in demand to hit £50bn p/a by 2032; De-risking deals total £5.1bn in H1
Defined benefit (DB) schemes will offload around £700bn of liabilities to insurers over the next 15 years, latest analysis by Hymans Robertson has suggested.
SSE completes three de-risking deals worth £1.2bn
Scottish and Southern Energy (SSE) has entered into two buy-ins with Pension Insurance Corporation (PIC), and a longevity swap with Legal & General (L&G).
