Annuities remain cheaper than gilts, continuing the trend started in the middle of last summer according to the latest Aon Hewitt Bulk Annuities Market Monitor.
Commenting on the research, Paul McGlone of the Risk Settlement Group at Aon Hewitt said: "Aon Hewitt’s Bulk Annuity Market...
Over one million members of defined benefit (DB) pension schemes will receive their pension from insurance firms by 2017 as more companies and trustees de-risk their pension liabilities using insurance, according to the fifth annual LCP Pension Buy-ins, Buy-outs and Longevity Swaps report.
The...
More than 1 million members of defined benefit (DB) pension schemes will have their pension benefits provided by insurance companies by 2017 as increasing numbers of companies and trustees de-risk their pension liabilities using insurance, according to the fifth annual LCP Pension Buy-ins, Buy-outs...
Pensions de-risking deals undertaken by the FTSE 350 last year resulted in a share price rise of 8% on average, according to research conducted by Freshfields Bruckhaus Deringer.
The findings suggest the markets are starting to wake up to the considerable long term benefits of tackling defined...
Pensions de-risking deals undertaken by the FTSE-350 last year resulted in a share price rise of 8% on average, according to research conducted by law firm Freshfields Bruckhaus Deringer. The findings suggest the markets are starting to wake up to the considerable long-term benefits of...
The trustee of the Uniq Pension Scheme (which undertook a groundbreaking deficit-for-equity swap earlier this year) has entered into an £830m buyin contract with Rothesay Life.
The scheme trustee operated a competitive tendering process, advised by Lane Clark & Peacock (LCP). Following...
Total 2011 de-risking transactions (to the end of the third quarter) came to £3.85bn, according to JLT Pension Capital Strategies.
Pensioner buyins remain the most popular contracts. This is due to affordability, as pensioners remain "cheaper" than deferred members, and strained...
The former chairman of the Pensions Regulator, David Norgrove, is launching an insurance company to deliver de-risking solutions to UK defined benefit (DB) pension schemes. Long Acre Life, set to gain Financial Services Authorisation, in early January is targeting schemes with liabilities in excess...
2011 will be a record year, with de-risking deals potentially topping £9bn of UK pension scheme liabilities, forecasts Hymans Robertson.
The third quarter of 2011 saw over £2bn of risk transfer deals completed, comprising buyins, buyouts and longevity swaps, including the £1....
2011 will be a record year with de-risking deals potentially topping £9bn of UK pension scheme liabilities, forecasts Hymans Robertson.
The third quarter of 2011 saw over £2bn of risk transfer deals completed, comprising buy-ins, buy-outs and longevity swaps. Indeed, the £1....
Bulk insured pension companies reported an increase in funds under management, totalling £30 billion to the end of 2010, according to new figures released by the ABI today. The pensions of over 600,000 people are now covered by these funds.
Responding to increased interest the ABI and...
The trustee board of the Meat and Livestock Commission Pension Scheme, advised by Towers Watson, has completed a £150m pensioner buy-in with Aviva. The deal, transacted in June 2011, involves Aviva making payments to the scheme equivalent to pensions for over 900 pensioner and dependant...
Nearly £30bn of buyout business has been written since 2006, including £7bn by pension plans sponsored by FTSE 100 companies. This is one of the key findings of the LCP Pensions Buyout 2011 report.
Business volumes in 2010 were the highest on record. Volumes totalled £8.3bn in...
De-risking is firmly established on the agenda for pension scheme trustees with 89% regarding it as important to overall business objectives according to a MetLife Assurance survey of 122 trustees.
Their recognition of the importance of de-risking has been driven by the economic events of the...
The trustees of the Radius Systems Pension Scheme, advised by Mercer, have transferred the scheme’s pension obligations to Rothesay Life. The deal is valued at under £100m. Radius Systems is the leading manufacturer of pipes and fittings in the UK, supplying the domestic and...
Paternoster has successfully completed its sale to Rothesay, the insurance arm of Goldman Sachs. Following the conclusion of an extensive sale process and satisfaction of the relevant conditions, Rothesay has acquired all of the shares in Paternoster.
Paternoster was advised by Willis Capital...
Almost three quarters of defined benefit scheme sponsors expect to focus on reducing investment risk in their pension plans during the next five years, according to a Towers Watson survey of UK chief financial officers and finance directors. Only 17% place a greater emphasis on achieving...
The new tables published by the industry-wide Continuous Mortality Investigation (CMI), show that the life expectancy of members of occupational pension schemes has again exceeded expectations. An extra £5bn of liabilities will go onto UK pensions.
However, this average increase...
Prudential UK has entered into two bulk annuity buy-in contracts with the trustees of the GlaxoSmithKline (“GSK”) Pension Scheme and the GSK Pension Fund for a tranche of pensioner members within their defined benefit pension schemes.
The transactions cover around 15% of GSK’s...
A total of £9bn of pension scheme risk transfer deals have been completed in the year to 30 September 2010.
The market for buy-in/buy-outs during the year to 30 September 2010 was dominated by Rothesay Life and Pension Insurance Corporation (PIC), which both took around 30% of market...
