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Trustees of the London Stock Exchange Group's defined benefit plan have sealed a groundbreaking £203m deal to insure its pensioner members' liabilities after reporting a £33m increase in the scheme's surplus.

Trustees of the George Hammond Retirement Benefits Plan have completed a £19m buyout of the scheme following a significant fall in the cost of insurance policies.

Favourable market conditions mean buyout prices are at their most reasonable since before the collapse of Lehman Brothers in 2008, Pension Insurance Corporation says.

Pension Corporation saw a £54m reduction in new business value last year due to quieter market conditions, preliminary results show.

The trustees of the £700m Honda Group UK Pension Scheme have insured part of the scheme in a buyout agreement with Pension Insurance Corporation.

Pension Insurance Corporation has reinsured almost £500m of its longevity exposure as it continues raising capital to target deals in excess of £3bn, it announced today.

Deficits are creating a drag on scheme investment returns of about 1.2% of liabilities a year, Pension Insurance Corporation research shows.

Ensuring member data accuracy should not be a barrier to buying out as delays could mean market opportunities are missed and premiums increase, Pension Insurance Corporation says.

Scheme funding positions were affected by as much as £50bn in Q3 due to the movement and volatility of long-term gilt yields, Pension Insurance Corporation says.

Timber merchant Arnold Laver has addressed its £43m pension scheme liabilities by undertaking a buyout with Pension Insurance Corporation.