MMC UK Pension Fund has completed the first longevity swap to include active members
The Willis Pension Scheme has entered into a longevity swap transaction with Munich Re to manage longevity risk in relation to around £1bn of pensioner liabilities.
Stuart Tragheim and Andy Milburn have been hired by Equiniti to grow its client base among life and pension providers.
The Institute and Faculty of Actuaries (IFoA) has launched an actuarial professional qualification and membership category to support increased demand for analysts.
The Aviva Staff Pension Scheme has secured the largest longevity swap written so far, in the first UK deal to dispense with a traditional intermediary.
Pension Insurance Corporation has hedged £300m of longevity risk by reinsuring it with Munich Re.
The £1.4bn Akzo Nobel longevity swap completed last week is predicted to be the first in a wave of transactions in 2012 and 2013.
UBS and Nomura have followed Credit Suisse in pulling out of the longevity swap market, citing capital requirements and regulatory changes, PP understands.