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Sidley Austin advises on £300m Munich Re / PIC longevity reinsurance deal

The London office of law firm Sidley Austin LLP acted as a legal adviser to global reinsurer Munich Re on its recently completed £300m reinsurance deal which saw Munich Re assume £300m of longevity risk from Pension Insurance Corporation. The Sidley team was led by the head of the London read the full article →

Munich Re reinsures £300m of longevity risk for Pension Insurance Corporation

Pension Insurance Corporation (PIC), one of the largest insurers of pension plan longevity risks and as a result a firm who assume large amounts of longevity risks themselves, has offloaded £300m of longevity risks by hedging them through a reinsurance agreement with Munich Re. The transaction see's Munich Re take read the full article →

Pension Corporation outsource their allocation to insurance-linked securities

Pension Corporation are one of the larger firms which was established to take on assets and liabilities from pension funds and manage those through to the end of a pensions lifespan. As a result they take on significant assets from pension funds which need to be invested in a prudent read the full article →

Pension Corp. in £30m buyout of Nova Chemicals UK Pension Plan

Pension Corporation continues to be one of the most active participants in the pension risk transfer and de-risking marketplace as they complete regular transactions with counterparties. Their latest transaction see's them enter into a pension buyout agreement with Nova Chemicals UK Pension Plan (press release available here).The buyout agreement covers read the full article →

Pension Corp. in £60m buy-out deal for Toray pension scheme

Pension Corporation have entered into another deal which see's them take on the assets and liabilities of a UK pension scheme. The latest transaction see's Pension Corporation take on over £60m of pension liabilities from manufacturer Toray Textiles.Toray, owned by a Japanese manufacturer has a defined benefit pension scheme in read the full article →

Pension Corp. seeking UK£400m to grow pension risk transfer market

Pension Corporation, a UK insurer of pension plans and one of the largest players in the longevity risk transfer and pension de-risking markets, is seeking additional funding totalling UK£400m from an investment of fresh capital from Luxembourg based specialist investment fund Reinet.An announcement from Pension Corp. today says that they read the full article →

London Stock Exchange transfers pension liabilities to Pension Corporation

The London Stock Exchange (LSE) has transferred a portion of its pensioner members liabilities to Pension Corporation (PIC) in a buy-in transaction which see's PIC insure all their current pension scheme members and automatically insure future pensioners for the next five years. The innovative deal effectively minimises the LSE's pension read the full article →