Browsing: Longevity and Mortality Risk Transfer

New UK pensions surplus access rules could help resuscitate capital-backed journey plans.

Aggregate deal value in the Canadian pension risk transfer (PRT) market set a new record in 2024 and market fundamentals suggest activity will remain strong going forward.

Given the importance of systemic risks such as climate change in determining the long-term stability of the insurance regime, insurers’ climate change approach should be considered as part of the scheme trustee’s selection process in the bulk purchase annuity market.

The transaction, completed back in January 2025, secures the benefits of all 705 Scheme members which comprises 396 pensioners and dependants as well as 309 deferred members.

The funding ratio and the aggregate funding position of the 4,969 schemes in the PPF 7800 Index fell in March, down from 126.1% to 124.7% and a £232.7bn surplus to a £215.5bn surplus, respectively.

The transaction involves approximately 8,200 participants and invested pension capital of around EUR 950m, making this transaction the largest buyout by Zwitserleven to date.

First transaction in the UK PRT market by Macquarie Asset Management-owned insurer.

The new longevity insurance and reinsurance arrangements cover £2.1bn and £3.0bn of pensioner liabilities in the Lloyds Bank Pension Scheme No.2 Scheme and the HBOS Final Salary Pension Scheme respectively.

LCP’s analysis is based on insurers’ final reported results for 2024.

The transaction secures the benefits of 15 pensioners and 8 deferred members and was led by K3 Advisory.