Browsing: Longevity and Mortality Risk Transfer

The Walkers Shortbread Limited Retirement Benefits Scheme has completed a £34m bulk purchase annuity buy-in transaction with Legal & General, securing the benefits of 161 retirees and 238 deferred members.

The trustee of the G4S Pension Scheme has completed a £1.8bn bulk purchase annuity buy-in transaction with Just Group, insuring the benefits of around 22,500 scheme members.

Consultants Isio has facilitated a £20m buy-in transaction for an unnamed defined benefit scheme in the UK.

Data – either a lack of it, too much of it or even the wrong kind – is proving a challenge to the UK’s pension risk transfer market.

The different risk exposures and risk appetites of insurance companies mean that reinsurance is used in a number of ways as there is not a ‘one size fits all’ offering.

Pension consulting firm K3 Advisory has led the completion of a £2m full scheme buy-in transaction with an unnamed sponsor in the mechanical and electrical industry with Legal & General.

The Atradius UK Pension Scheme has concluded a £190m bulk purchase annuity buy-in transaction with PIC that secures the pensions of 361 current pensioners and dependents, 344 deferred members and 66 active members.

£70m buy-in transaction will secure the benefits of all uninsured scheme members, covering approximately 490 deferred members and 400 pensioner members.

£7m deal was completed in March and insures the benefits of 24 pensioners and 15 deferred members.

The deal, which included a novation of the scheme’s existing longevity swap and the transfer of illiquid assets, was completed in August this year.