pension risk transfer


Aon warns pensions not to over-react to Covid-19 mortality spike

Insurance and reinsurance broker and consultancy Aon has warned UK pension schemes not to over-react to the recent short-term spike in mortality rates in the country, as the impact to longevity risk assumptions may not be as significant as it seems. Aon’s Risk Settlement Group, which deals with pension risk transfer, read the full article →

Room for capital markets solutions in longevity risk market: Kessler, Prudential

As the longevity risk transfer market continues down its impressive growth path, Amy Kessler, Head of the Longevity Risk Transfer at Prudential Financial, Inc. of the U.S., believes there is room for capital markets solutions to play a role. Following a record-breaking 2018, the longevity risk transfer market is poised for read the full article →

Abu Dhabi wealth fund agrees investment in Pension Insurance Corp.

The Abu Dhabi Investment Authority (ADIA), a sovereign wealth investment fund owned by the Emirate of Abu Dhabi and tasked with investing funds on behalf of the Government of the Emirate, has been confirmed as investing in a significant chunk of pension risk transfer specialists Pension Insurance Corporation (PIC). As we read the full article →

Aon hires Bale in Risk Settlement, deepens longevity risk expertise

Aon has hired Steve Bale from Legal & General to join its Risk Settlement team, the area of the brokerage that focuses on life and pension risk transfer, including longevity swaps and reinsurance. Bale has more than 19 years of experience in the life insurance and pensions sector, with the last read the full article →

ILS has potential in UK longevity & backing annuity deals: Hymans Robertson

Insurance-linked securities (ILS) has potential in helping counterparties to achieve longevity risk transfer and in financing or backing large transactions for bulk annuity insurers, according to consultants Hymans Robertson. With the United Kingdom seeking to bring ILS activity to its shores, thanks to the development of regulations for ILS that should read the full article →

SSE pension hedges £1.2bn longevity risk in novel combined transaction

Two defined benefit pension schemes of SSE plc, a FTSE 100 energy company, have entered into a novel combined transaction that enabled £1.2 billion of longevity risk to be hedged using both buy-in and insurance, with longevity risk also directly passed to reinsurance providers. Specialist actuarial and advisory firm Hymans Robertson read the full article →

Goldman Sachs sells remaining stake in Rothesay Life

Investment banking giant Goldman Sachs has now sold down the remainder of its shareholding in UK pension risk transfer specialist life insurer Rothesay Life, with the stake being picked up by private equity giant Blackstone, Singaporean sovereign wealth fund GIC and insurer MassMutual. Goldman Sachs offloaded a stake in Rothesay Life read the full article →

SCOR hires Wolfgang Murmann as Head of Longevity, EMEA

Reinsurance firm SCOR has hired seasoned longevity risk transfer executive Wolfgang Murmann to be the firms new Head of Longevity for the EMEA region, picking him up from asset management giant Insight Investment where he worked on solutions for pensions and institutions. Murmann has a track record in longevity risk transfer markets, read the full article →

Aon Hewitt helps Phoenix unwind its longevity swap

UK closed life and pension fund consolidator Phoenix Group has unwound its 2014 £900 million longevity swap transaction with the help of Aon Hewitt, shifting to an annuity arrangement which it received beneficial pricing on thanks to having the swap arranged in advance. Aon Hewitt said this is the first unwinding of read the full article →

Prudential & Rothesay Life strike $1.2bn longevity reinsurance deal

Prudential Financial and Rothesay Life have announced their sixth major longevity reinsurance transaction since 2011, with a $1.2 billion deal covering liabilities associated with 22,500 pensioners, across eight pension plans. The longevity reinsurance deal sees Prudential assuming the longevity risk for $1.2 billion (about £960 million) of UK pensioner liabilities from read the full article →