pension derisking

Activity in the pension fund de-risking and longevity hedging market, including use of instruments such as longevity swaps, longevity insurance and reinsurance, is expected to surge, according to Towers Watson.

John Towner is joining UK insurer, pension risk transfer and longevity re/insurance specialist Legal & General to head up origination for the firm’s pension risk transfer and longevity insurance or reinsurance activities.

Punter Southall, the pension and actuarial consultancy, has hired an experienced executive with significant longevity swap and buyout expertise to head up the firm’s growing pension de-risking and risk transfer efforts.

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.

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.

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, 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 largest ever UK pension insurance buyout transaction has been recently completed by specialist insurer Pension Insurance Corporation (PIC). The transaction saw PIC insure the full £1.5 billion of liabilities associated with the 20,000 members of the EMI Group Pension Fund.

The smallest longevity swap deal that we’ve seen has been completed, according to an article on Professional Pensions today. The £400m longevity risk transfer deal hedges the risk of pensioners living longer for luxury car manufacturer Bentley’s UK pension scheme. The size of the deal shows that longevity swaps can be transacted for smaller pension […]

German reinsurer Hannover Re has completed two block reinsurance transactions for longevity risks in the UK which between them will see the reinsurer assume around £1 billion worth of pension plan longevity risks. This brings the total amount of longevity risk assumed by the reinsurer in 2013 to around £3 billion when added to its […]