All Insurance articles – Page 10
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News
Bulk annuity volumes hit £12.6bn in H1 2020
On the go: Total buy-in and buyout volumes reached £12.6bn in the first half of this year, the second-highest value on record, according to analysis published by LCP.
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News
Siemens completes £530m buy-in with L&G
On the go: Industrial manufacturer Siemens has completed a £530m* buy-in for Siemens Benefits Scheme with Legal & General, covering more than 2,000 pensioners.
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News
Premaberg Holdings completes £5m bulk annuity transaction
On the go: Premaberg Holdings, a manufacturer of separation and filtration systems, has completed a £5m annuity buy-in with Just Group for its Premaberg Holdings Limited Retirement Benefits Plan.
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News
UBS pension scheme enters into £1.4bn longevity hedge
On the go: The UBS (UK) Pension and Life Assurance Scheme has entered into a £1.4bn longevity hedge with Zurich Assurance, designed to protect the scheme against the risk of the 2,700 members covered living longer than expected.
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News
Formal superfunds authorisation could take 5 years
The Pensions Regulator anticipates that it could take five years for the government to put in place a statutory authorisation framework to oversee defined benefit superfunds, as it looks ahead to publishing specific guidance for trustees considering a transfer to the new vehicles.
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News
One in five schemes considering superfunds
On the go: The Pensions Regulator’s interim guidance for consolidators has sparked a surge of interest by pension schemes, with one in five considering superfunds as an option for their endgame, according to a survey by Willis Towers Watson.
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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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News
Willis Pension Scheme enters £1bn longevity swap
On the go: The Willis Pension Scheme has entered into a £1bn longevity swap with Munich Re, covering around 3,500 members.
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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
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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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
Analytics firm completes global bulk annuity deal with L&G
On the go: Analytics company IHS Markit has entered into two bulk annuity deals with Legal & General, the insurer’s first global transaction.
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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.
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News
Derisking trend to continue apace
On the go: Pensions consultancies say bulk annuity volumes could reach this year’s £40bn mark again in 2020, but put the ‘new normal’ for the industry at closer to £30bn.
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Features
Trustees insulated from Rothesay-Pru back-book fallout
While a court’s decision to block a £12bn annuity back-book deal between Prudential and Rothesay Life has profound implications for the insurance industry, experts say defined benefit trustees should be safe as long as they do their homework on bulk annuity providers.
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News
Regulator under fire for insurance supervision
On the go: The Prudential Regulation Authority has been criticised over its supervision of the insurance sector, and in particular the proposed transfer of £12bn of annuities by Prudential to Rothesay Life.
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News
Capital adequacy dispute threatens superfunds
Disagreement between the government and regulators has cast a question mark over the future of the UK’s defined benefit commercial consolidators.
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News
£700m business premiums for Rothesay Life after H1 pension deals
On the go: In a trading update issued on July 5, insurer Rothesay Life said that in the first half of 2019 it assisted four pension schemes to de-risk their liabilities, resulting in new business premiums of £700m.
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News
PIC hails record reinsurance availability
On the go: Bulk annuity provider Pension Insurance Corporation has secured a record-breaking £7bn of reinsurance to date in 2019.