Aegon has sold a £6bn UK annuity portfolio to Rothesay Life in a bid to focus on expanding its investment platform.
Ray King has been appointed Rothesay Life's independent non-executive chairman. He replaces Keith Satchell who retires as chairman after nine years.
The bulk annuity market had a record final quarter in 2015 as buy-in and buyout deals totalled £5.4bn, according to LCP.
The top stories this week were Ros Altmann criticising bullying by WASPI supporters and the government forcing trust-based schemes to report on transfer performance.
Rothesay Life has entered into talks to buy Aegon's £8bn ($11.57bn) annuity book according to Sky News.
New thinking is needed for the new world trustees face
The Pensions Institute has called for urgent action after its research found one in ten defined benefit (DB) schemes would "never ever" pay benefits in full.
The impact of Solvency II on bulk annuity pricing will be limited, but schemes with generous options could see hefty increases, finds Jack Jones
Insurers completed bulk annuity transactions of £2.5bn in the third quarter, bringing total benefits insured in 2015 to around £6.9bn.
Murray Blake has been appointed a consultant by LCP to work in its pension de-risking section, taking the practice to over 30 partners and consultants.