Australian super fund performance tests could limit ILS investing

Government instigated performance tests for Australian superannuation funds, so pension and retirement investment houses, could potentially have an effect of making investing into asset classes like insurance-linked securities (ILS) at scale more challenging, research suggests. Super funds in Australia manage the retirement pension benefits of much of the population and are read the full article →

PGGM promotes Sfaif to Director, Credit & Insurance Linked Investments

PGGM, the Dutch pension fund investment manager and the largest end-investor in the insurance-linked securities (ILS) space, has promoted its employee Youssef Sfaif to the role of Director, Credit & Insurance Linked Investments. Sfaif has a background in insurance and reinsurance having begun his career on the actuarial side for a read the full article →

Swiss Re’s Admin Re to acquire pension business from HSBC UK

Reinsurance firm Swiss Re has entered into an agreement with HSBC to purchase over 400,000 individual and group pension and related annuity policies as well as GBP £4.2 billion in unit-linked assets from HSBC Life (UK) Limited. This is the first transaction from Swiss Re's Admin Re business unit in some time, read the full article →

IMF highlights government and pension fund exposure to longevity risk, recommends hedging

The International Monetary Fund has published a chapter of its Global Financial Stability Report which discusses 'The Financial Impacts of Longevity Risk'. In it they warns that the U.S. and other governments need to acknowledge the size of the longevity risks they are facing, put in place mechanisms for improved 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 →

Pension money continues to flow into ILS space, but diversification is key

The insurance-linked securities market saw steady issuance during 2011 and still managed to achieve near $5 billion of new issuance despite the disruptions to the market caused by new risk models and large catastrophe events, says Towers Watson in their January report on the P&C re/insurance market (available here). Sponsors 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 →

Q2 pension risk transfer deals up 400% to £1.4 billion

The market for transferring the risks associated with pension schemes, including transferring longevity risk, has continued to grow during the last quarter in the UK. Q2 became one of the busiest quarters for the pension risk transfer market since the credit crisis of 2008, resulting in £1.4 billion of risk read the full article →

KPMG says pension buy-ins could be more difficult to price under Solvency II

KPMG reports today in a press release that the volume of pension buy-in deals in the UK has reached over £3 billion in the past year. Buy-ins see pension funds transfer some of their liabilities to the insurance market often with the sole purpose of offloading the longevity risk which 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 →