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Longevity swaps cover £22 billion of liabilities so far in 2014: Aon Hewitt

The longevity swap, longevity reinsurance and pension risk transfer market continues to grow, with £30 billion of pension risk transfers undertaken year-to-date with almost £22 billion of these consisting of longevity swap deals, according to Aon Hewitt.According to Aon Hewitt, the pensions and retirement product unit of insurance and reinsurance read the full article →

Pension longevity risk transfer market to see record in 2014: Aon Hewitt

Aon Hewitt, the retirement product unit of insurance and reinsurance broker Aon, highlights the growing pension risk settlement and longevity risk transfer market in its latest report, saying that overall the market is already at a record level in 2014.The market Aon Hewitt is referring to comprises largely bulk annuity read the full article →

Hannover Re reinsures longevity risk from PIC/Total pension buy-in

Hannover Re was the reinsurance firm sitting behind the £1.6 billion pension buy-in we reported yesterday, between specialist insurer of defined benefit pension funds Pension Insurance Corporation (PIC) and oil company Total’s UK pension plan.The transaction saw PIC undertake a pension insurance buy-in with the Trustee of the Total UK read the full article →

Pension Insurance Corp. insures £1.6B pensioner liabilities for Total UK

Specialist insurer of defined benefit pension funds Pension Insurance Corporation (PIC) has completed another large pension risk transfer, taking on £1.6 billion of pensioner liabilities including longevity risks, from oil company Total's UK pension plan.This transaction saw Pension Insurance Corporation undertake a pension insurance buy-in with the Trustee of the read the full article →

Rothesay Life insures £484m of Philips pension risk, including longevity

Rothesay Life, a leading UK pension risk transfer specialist life insurer and provider of bulk annuities, has completed a pension risk transfer transaction for the Philips Pension Fund, taking on a portion of its liabilities including longevity risks.Rothesay Life announced yesterday that it has entered into a bulk annuity transaction read the full article →

Rothesay Life insures £280m of pension plan risk including longevity

Rothesay Life, a leading UK pension risk transfer specialist life insurer which owner Goldman Sachs intends to sell a majority stake in, has completed another pension risk transfer transaction. The £280m bulk annuity transaction sees Rothesay Life take on more pension plan risk including covering longevity.The transaction involves the pension read the full article →

Canadian Wheat Board transfers pension plan longevity and investment risks

The Canadian Wheat Board (CWB) has entered into a $150m transaction with Sun Life Assurance Company of Canada, a subsidiary of Sun Life Financial Inc., to transfer investment and longevity risk from CWB’s defined benefit pension plan to Sun Life. It is the first inflation-linked pension risk transfer deal of read the full article →

Pension Insurance Corporation helps charity hedge pensioner longevity risk

Pension Insurance Corporation, a UK-based specialist provider of insurance solutions for defined benefit pension funds, has announced the completion of a pension buy-in transaction for UK children's charity the National Society for the Prevention of Cruelty to Children (NSPCC). The transaction protects the NSPCC pension scheme from risks such as read the full article →

LCP advises Home Retail Group in pension scheme risk transfer deal

Lane Clark & Peacock LLP (LCP) have announced that they advised UK home and general merchandise retailed Home Retail Group in a £280m pensioner buy-in transaction for their pension scheme which saw them de-risk by transferring their liabilities to insurers.This buy-in transaction is notable, say LCP, as it is the read the full article →

CAMRADATA launches first pension risk transfer information and quote database

CAMRADATA Analytical Services have announced the launch of a pension risk transfer product database aimed at U.S. defined benefit plans and sponsors. It aims to provide a transparent view of the insurance options available to allow pension schemes to transfer risks, including pension buy-in and buy-outs.What's most interesting is the read the full article →