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Comet Pension Scheme adds more insurance-linked investments

The Comet Pension Scheme, a closed defined benefit pension fund, is set to allocate more capital to insurance-linked securities (ILS) as part of a new discretionary alternatives mandate that includes some ILS, adding to an allocation it already had with ILS manager Leadenhall Capital Partners.The Comet pension scheme first allocated read the full article →

Longevity risk the biggest threat to UK & German corporate pensions

Longevity is the biggest risk facing corporate pension schemes in the UK and Germany and more likely to cause deficits than low-interest rates, according to Fitch Ratings, which underscores the expected increase in demand for longevity risk transfer and reinsurance.The low-interest rate environment has been a major cause of deficits read the full article →

BBC pension fund benefits from insurance-linked securities diversification properties

The BBC, or British Broadcasting Corporation, pension fund made a £76m allocation to insurance-linked securities and catastrophe bonds through an investment mandate given to Nephila Capital las year (read our article on the original allocation of funds here). While the investment is small, at less than 1% of the BBC read the full article →

£40 billion of UK pensioner longevity risk already transferred

Since the longevity risk transfer and pensioner longevity de-risking market began in earnest in 2006 over £40 billion of pensioner liabilities have been transferred using instruments such as longevity swaps, buy-ins and buy-outs according to an update from Hymans Robertson. The total volume of risk transfer deals is expected to read the full article →

UK pension risk transfer market breaks £10 billion barrier in 2011

The UK pension risk transfer market had a record year in 2011, with the combined total volume of longevity swaps, pension buy-ins and buy-outs breaking the £10 billion barrier for the first time in a single calendar year. This reflects the growing awareness from pension scheme trustees that longevity risk read the full article →

Mercer assists Standard Life in £100m defined contribution (DC) pension scheme buyout

Mercer have assisted in the completion of the latest pension scheme buyout transaction which saw the benefits of 3,500 pension plan members have their assets of around £100m transferred to Standard Life. The majority of the pension scheme belonging to British publisher and media company EMAP was transferred to Standard read the full article →

Investment managers views on pension funds in the insurance-linked securities market

This morning we attended Standard & Poor's London ILS event, the '5th Annual European Insurance-Linked Securities Conference'. This well attended, informative event featured a number of interesting panel discussions including one involving three well known ILS investment managers discussing the increasing trend for pension funds investing in ILS and catastrophe read the full article →

Longevity swap may only remove as little as 30% of a scheme’s longevity risk

Punter Southall, a UK based actuarial and investment consultant to many large UK pension schemes, has published a press release commenting on the recent ITV longevity swap transaction warning pension schemes of the sometimes limited nature of the risk transfer a longevity swap provides.The £1.7 billion ITV longevity swap has 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 →

ITV completes £1.7 billion longevity swap with Credit Suisse

ITV plc, a British television broadcaster, has announced that it has entered into a £1.7 billion longevity swap with Credit Suisse to remove the risks associated with increases in pension liabilities due to longer than expected life spans of members of their defined benefit pension scheme. Towers Watson advised the read the full article →