Browsing: Longevity and Mortality Risk Transfer

LGRA expects 2024 to finish at levels similar to that of 2022, the US market’s current banner year.

Milliman’s latest Milliman Pension Buyout Index (MPBI) suggests the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process rose from 100.8% of a plan’s accounting liabilities to 101.7% of those liabilities in September.

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.