The bulk annuity market’s ‘repeat buyers’ will continue to drive market volumes through 2020 with cautious insurers on the hunt for “a track record of successful deals”, Aon says.
The Marathon Service (GB) Limited Pension and Life Assurance Scheme has completed a £610m full buy-in with Rothesay Life, covering the benefits of more than 1,400 members.
This week’s top stories included the Littlewoods Pension Scheme’s £930m buy-in with Rothesay life, while The Pension Superfund named its new asset and liability management committee.
The Littlewoods Pensions Scheme has completed a buy-in covering just under £930m of around 6,500 members’ benefits with Rothesay Life, the majority of which relate to deferred members.
The IPC Media Pension Scheme has agreed a £290m buy-in with Rothesay Life, insuring benefits for around 500 pensioner members.
After a bumper year, insurers are now facing a slower and smaller pipeline as schemes grapple with Covid-19, writes James Phillips.
Size is important to make a bulk annuity deal stand out, but it is not the only factor, writes Gill Wadsworth.
The Xylem UK Pension Plan has confirmed a £255m buy-in transaction with Rothesay Life in the insurer’s first deal of 2020.
The ESAB Group (UK) Limited Pension & Life Assurance Scheme has purchased a £255m full buy-in with Rothesay Life, covering benefits for all 900 members of the scheme.
Almost £35bn of defined benefit (DB) liabilities have now been insured this year after yet another giant buy-in by the Asda Group Pension Scheme with Rothesay Life.