Amy Kessler, Professor Andrew Cairns, Professor David Blake and Marsha Kessler look at how schemes can make longevity assumptions post-Covid
Prudential Retirement reinsured $1.7bn (£1.4bn) of UK pension scheme longevity risk in the first half of the year, it has revealed.
Pension schemes and life insurers should be prepared for a modest change to their assumptions for mortality rates in the post-Covid-19 world, an academic study suggests.
This week’s top stories include Prudential Retirement urging schemes to insure member benefits, and the Universities Superannuation Scheme submitting its 2018 valuation.
Defined benefit (DB) schemes should act now to insure members’ benefits before an “anomaly” in the markets is corrected, Prudential Retirement has said.
Prudential Insurance Company of America (PICA) has launched a reinsurance counterparty, lending support to insurers that account for more than 90% of the UK pension risk transfer market.
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.
Prudential Retirement has reinsured benefits for around 22,500 pensioners, after taking on liabilities from Rothesay Life in their sixth deal together.
Prudential Retirement Insurance and Annuity Company (PRIAC) and Legal & General (L&G) have completed their third longevity reinsurance transaction since October 2014.
PP talks to Amy Kessler about the booming longevity risk market
Rothesay Life has revealed it agreed a deal to hedge £300m of longevity risk in December, taking the value of benefits reinsured by the firm over the year to £2.8bn.
The ICI Pension Fund agreed a £3.6bn buy-in earlier this year. Natasha Browne hears from the chief executive about how it went
Rothesay Life has secured a longevity swap with US reinsurer Prudential to cover the members of 93 schemes it has insured.