The Prudential Insurance Company of America (PICA) has concluded a £6bn longevity reinsurance deal, with Zurich Assurance acting as an intermediary on a pass-through basis.
The Marks and Spencer (M&S) Pension Scheme has completed two buy-ins with Aviva and Phoenix, insuring a total of £750m of benefits.
The LV= Employee Pension Scheme has agreed a buy-in of around £800m with Phoenix Life after converting an existing longevity swap.
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).