All Insurance articles – Page 11
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News
Employers exposing staff to unexpected tax charges, warns Aon
On the go: Members of pension schemes with group life cover and their beneficiaries may face unexpected tax charges, with many employers yet to update their provision since the 2006 introduction of the lifetime allowance.
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OpinionOnly 1% reach insurance, what about everyone else?
Clara Pensions chief executive officer Adam Saron hits out at “disingenuous” arguments being made in opposition to commercial consolidation, and makes the case for a superfund regulatory environment that avoids the strictures of Solvency II.
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News
£7.1m bulk annuity boom for PIC
On the go: Pension Insurance Corporation saw a near doubling of new pension insurance business to £7.1bn of premiums (2017: £3.7bn), for clients including BHS, Siemens and Rentokil, its parent company's 2018 results published today revealed.
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News
Insurers brace themselves for DB superfund disruption
Insurers are bracing themselves for disruption by superfunds, but their desire and capability to establish their own defined benefit consolidation vehicles remains unclear.
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FeaturesHighland scheme mulls insurance policy for ill health retirement costs
The Highland Council Pension Fund is considering the option of taking out an insurance policy to protect the scheme against substantial ill-health retirement costs.
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News
PIC reinsures £1.2bn of longevity risk with SCOR
On the go: The Pension Insurance Corporation has finalised a £1.2bn longevity reinsurance contract with independent global reinsurance company SCOR.
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NewsCNPP micro section well poised for scheme buyout
The GPS EnergySolutions section of the Combined Nuclear Pension Plan is set to wind up, following months of buyout preparation with the trustees and employer.
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OpinionIndustry right to reject death by Isa
From the blog: MPs may have migrated to warmer climes to relax during the parliamentary recess, but the civil servants at HM Treasury have evidently been working away behind the scenes.
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Features
Bulk annuities: How should schemes approach the market?
Analysis: 2018 has been a very busy year so far for buy-ins and buyouts, with plenty of competition and attractive insurer pricing.
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OpinionAre consolidation vehicles the future for DB schemes?
Companies offering a cheaper alternative to buyout have unions and others concerned about letting defined benefit employers off the hook via regulatory arbitrage, writes CMS’s Caroline Kurup, but consolidators remain attractive where insurance remains the end point for scheme liabilities.
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OpinionInsurance longevity swaps: Illuminating exits
2018 is expected to be a buoyant year for the longevity risk transfer market, with the recent decline in national mortality improvements not only having a positive impact on pension scheme funding, but also being reflected in more attractive longevity reinsurance pricing.
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News
PPF chief hints at closing superfunds’ regulatory advantage
Consolidation vehicles hoping to hoover up assets from deficit-weary employers could see their prices forced upwards by tough levy requirements and insurance-style protections, the chief executive of the Pension Protection Fund has said.
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News
National Grid and Zurich complete longevity transaction
More than £2bn of pensioner liabilities of the National Grid Electricity Group of the Electricity Supply Pension Scheme have been covered by an intermediated longevity swap deal with insurer Zurich.
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News
Further details emerge on consolidator safeguards
Investors in The Pension SuperFund will not begin to receive returns on their capital until its consolidated schemes have passed a 115 per cent funding target, its executives have told the Work and Pensions Committee.
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News
Choosing the right derisking path
Analysis: Consultants say bulk annuity pricing has never been so attractive, yet the majority of pension schemes see self-sufficiency as their likely destiny. Who is wrong?
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OpinionSelf-sufficiency is not a permanent solution
Think you can outperform the insurers? It might be possible for schemes with deferred members, says JLT Employee Benefits’ Harry Harper, but employers will be keen to show pensioner liabilities the door.
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OpinionWe need flexibility and security in retirement
Freedom and choice has empowered individuals to make decisions based on their unique circumstances. However, this freedom also leads to challenges when making retirement income choices – among them, uncertainty over spending needs and longevity.
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Features
What can pension schemes learn from insurers?
Analysis: Prudent liability management features among the priorities of pension funds and insurers alike. Experts have previously called upon investors to think more like insurers, but differences in objectives, regulatory requirements and scale mean that total strategic convergence between schemes and insurers is unlikely.
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Opinion
Could improved understanding revive the annuity?
Analysis: Many savers have been reluctant to purchase an annuity following the government’s introduction of freedom and choice in 2015, but should they be nudged to reconsider their options?
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OpinionInnovation in the bulk annuity market
James Parker, Peter Coyne and Mark Jenkins of CMS Cameron McKenna outline two innovations driving the bulk annuity market following Solvency II