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The UK defined benefit pensions de-risking market is likely to see £50bn in bulk annuity transactions and £20bn in longevity swaps in 2025, according to WTW’s annual De-risking Report.
LaBert most recently served as CEO at the National Association of Independent Life Brokerage Agencies.
£53m deal is Royal London’s latest since entering BPA market last year.
The estimated retiree pension risk transfer cost is now 101.4% of a plan’s accumulated benefit obligation.
Prismic will reinsure approximately $7 billion of reserves backing USD-denominated Japanese whole life insurance policies which were recently originated by Prudential’s Japanese affiliates.
The buy-in covers the pension benefits of 95 pensioners and dependents, and 74 deferred scheme members and is worth £24m.
Letter to insurance company CEOs references ongoing monitoring of funded reinsurance.
US life insurance application activity finished 2024 essentially flat at -0.1% year-to-date compared with 2023.
New report lifts the lid on investor sentiment towards life settlements.
The firm has built a team of more than 20 people focussed on bulk purchase annuity transactions and completed two deals with external pension schemes in Q4 last year.