All Buyout articles – Page 9
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News
Pension superfunds could hinder insurers’ businesses
On the go: UK pension superfunds could encroach on life insurers’ bulk purchase annuity market, as the new consolidation vehicles may present employers with a more affordable alternative, according to Fitch Ratings.
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NewsBoE governor reignites row between superfunds, insurers and regulators
In an intervention which laid bare a deep divide both in the industry and between regulators, Bank of England governor Andrew Bailey has reignited a long-running feud between traditional insurers and advocates of new superfund models, while casting doubt on the Pensions Regulator’s ability to oversee consolidators.
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News
Superfunds cleared to begin work under TPR interim regime
The Pensions Regulator is to sanction the transfer of struggling corporate defined benefit schemes into commercial consolidators aiming to secure pensions at a lower cost than insurers, under a two-part interim regime unveiled on Thursday.
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News
Regulator to issue rules for consolidators ‘in the coming weeks’
The Pensions Regulator is shortly to issue interim regulation covering commercial consolidators, Pensions Expert can reveal.
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News
Medical scheme completes £10m buyout with Aviva
On the go: The Unomedical Pension Plan has entered a £10m buyout with Aviva, which shows ongoing appetite from insurers to write smaller contracts.
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News
Small scheme bulk annuity deals set for surge in demand
On the go: The number of small scheme buy-ins and buyouts could increase by 25 per cent in 2020, according to research from LCP.
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News
Banking association scheme signs £95m buy-in
On the go: The defined benefit scheme of the British Bankers’ Association has entered into a £95m buy-in agreement with insurer Aviva, covering 213 members’ benefits.
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News
3i buys in £650m across pensioners and deferreds
On the go: Private equity and infrastructure group 3i has announced a £650m buy-in with Legal & General.
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News
Regulator to issue new guidance on capital-backed endgame deals
The Pensions Regulator is to issue new guidance on defined benefit employers seeking to use third-party investors to back the cost of buyout, following the completion of a first-of-a-kind deal without the need for regulatory clearance last week.
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Features
Widening spread on buyouts makes self-sufficiency harder to justify
Data crunch: An already booming market for pensions insurance has received a two-pronged boost from the coronavirus pandemic: the turmoil rippling through the economy is providing schemes with the best ever pricing for buy-in deals, just as the demand for shedding investment risk is at its greatest.
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News
Old British Steel scheme trustees consider buyout
On the go: The trustees of the Old British Steel Pension Scheme are considering a buyout for its 31,000 members, due to a better-than-expected funding position achieved while in the assessment period at the Pension Protection Fund.
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News
Co-op scheme completes £350m buy-in with Aviva
On the go: The Co-operative Pension Scheme has completed a £350m buy-in with Aviva, taking its total transactions this year beyond £2bn, as defined benefit schemes look to capitalise on cheaper deals amid the coronavirus pandemic.
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News
Insurer investment risks could drag on buyout volumes
Variations in the levels of investment risk taken by life companies providing insurance for defined benefit pension promises could distort and disrupt the progress of the pensions derisking market, according to experts.
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News
Premier Foods sets up tasty scheme merger
Premier Foods, maker of Mr Kipling cakes, has reached a groundbreaking agreement to merge its RHM, Premier Foods and Premier Grocery Products pension schemes, a move that the company estimates could save it as much as £145m in contributions.
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News
£37bn a year to flow from DB to bulk annuity providers
On the go: Demand for buy-ins and buyouts is predicted to average £37bn a year for the next decade, according to new analysis.
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News
Bulk annuity deals to hit £25bn in 2020
On the go: Defined benefit schemes are expected to complete buy-in and buyout deals in 2020 to the tune of £25bn, according to research from Lane Clark & Peacock.
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News
Bulk annuity deals now cover 15% of UK defined benefit liabilities
On the go: Pension scheme buy-ins, buyouts and longevity swaps have insured £250bn of longevity risk since the market took off in 2007, which corresponds to 15 per cent of UK defined benefit liabilities, according to analysis from Hymans Robertson.
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News
Xylem completes £255m bulk annuity deal
On the go: Trustees of the Xylem UK Pension Plan have completed a £255m buy-in with Rothesay Life.
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News
Co-op buys in further £1bn of liabilities
On the go: Retail group The Co-op has secured the pensions of 7,000 defined benefit members in a bulk annuity transaction with the Pension Insurance Corporation.
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News
AIB scheme pioneers alternative derisking solution
The AIB Group UK Pension Scheme has entered into a £250m insurance contract to hedge the investment risk associated with a portion of its liabilities, becoming the first defined benefit plan to undertake an alternative derisking solution.