Willis Towers Watson
ESG Watch: Warning to pension schemes; MSCI's call to asset managers; Russell Investments outlines 2050 net-zero goal
Professional Pensions rounds up some of the latest ESG and climate news from across the industry.
Willis Towers Watson sets 2050 net-zero target
Willis Towers Watson has committed its delegated investment portfolios to net zero by 2050, with at least a 50% reduction by 2030.
Axa agrees market's first ever deferred longevity swap with Hannover Re
The Axa UK Group Pension Scheme has agreed a £3bn longevity swap with Hannover Re, insuring the longevity risk of a largely non-pensioner population.
List: The biggest UK longevity swaps
There have now been a total of 33 longevity swaps over £1bn publicly announced. The full list, provided by Willis Towers Watson and through PP research, is as follows...
SPP: Engaged trustees in well-governed schemes directly impact member outcomes
Governance issues can directly impact the outcomes and value for money experienced by defined benefit (DB) scheme members, according to a paper from the Society of Pension Professionals (SPP).
Winds of change: How schemes are approaching the countdown to net zero
The countdown to net zero is now well underway, Hope William-Smith take a look at how schemes are aligning with Paris Agreement goals.
World's largest pension markets show Covid resilience; UK drops to third place
The UK recorded a compound annual growth rate of 4.6% in the last decade and is now the third largest global pension market, having slipped behind Japan during a difficult 2020.
Why LDI will continue for years to come
After a decade of de-risking, there is still more to do, particularly for those schemes late to the hedging party, writes James Phillips.
AMX and DWS team up for stewardship-focused pooled funds service
The Asset Management Exchange (AMX) and DWS have launched an investment solution which allows schemes in pooled funds to express their stewardship preferences.
Hymans Robertson buys Bath Actuarial Consulting
Hymans Robertson has acquired Bath Actuarial Consulting (BAC) in a bid to boost its corporate consulting business.
ICSWG launches trustee guide for assessing consultants' climate competency
The Investment Consultants Sustainability Working Group (ICSWG) has launched a guide to help trustees assess their investment consultants’ climate competency.
Exclusive: Market volatility to spur £30bn of buy-ins and buyouts in 2021
Pension risk transfer volumes this year will look similar to those in 2020 as market volatility creates opportunities for schemes able to act fast, according to Willis Towers Watson.
PMI revamps board with four appointments
The Pensions Management Institute (PMI) has appointed three non-executive directors and an executive director to its board.
Baker Hughes agrees £100m buy-in with Just
The Baker Hughes (UK) Pension Plan has secured approximately £100m of liabilities through a buy-in with Just Group.
Reckitt Benckiser completes £415m buy-in with Scottish Widows
The Reckitt Benckiser Pension Fund has secured a £415m buy-in with Scottish Widows, insuring the benefits of around half of pensioners.
Five stories you may have missed this week
This week’s top stories included the Marks and Spencer Pension Scheme completing two buy-ins, while the Work and Pensions Committee submitted an amendment to the Pension Schemes Bill.
BHS Senior Management Scheme completes PPF+ buy-in with L&G
The BHS Senior Management Scheme has agreed a £2.5m buy-in with Legal & General (L&G) Assurance Society, securing benefits outside of the Pension Protection Fund (PPF).
Exclusive: Trustees urged to 'refocus' their time to fix ESG crisis
Trustees need to address two urgent priorities in order to “unlock real ESG action” in UK pensions, Willis Towers Watson says.
Willis Towers Watson launches diversity action plan; warns progress is 'disappointingly slow'
Willis Towers Watson has set out a diversity action plan for the investment industry after its research found progress on diversity is “disappointingly slow” across the entire sector.
Just one in six schemes report long-term covenant damage
Just one in six (16%) of schemes believe the Covid-19 pandemic has weakened their sponsor’s ability to support them in the long term, research by Willis Towers Watson finds.
Two in five schemes expect to transfer risk within three years, finds Willis Towers Watson
Two in five UK defined benefit (DB) schemes expect to complete a bulk annuity or longevity swap transaction within the next three years, Willis Towers Watson research finds.
Five stories you may have missed this week
This week’s top stories included the passing of the Pension Schemes Bill in the House of Commons at the second reading. Also, Willis Towers Watson claimed that collective defined contribution pensions could average significantly higher than either defined...
UK Pensions Awards 2020 - The Winners
Here they are - the winners of the UK Pensions Awards 2020...
Asset managers warned measuring impact alone is not enough
Institutional investors risk a disconnect between ambition and reality if they focus on measuring investment impact without explicitly linking it to value creation for stakeholders, The Thinking Ahead Institute (TAI) warns.
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