WTW’s De-Risking Report 2026 suggests that longevity swaps are becoming increasingly interesting to UK defined benefit pension schemes and forecasts £20bn worth of transactions this year.

Supply and demand dynamics in terms of annuity issuance and the need for reinsurance solutions remains strong.

Gilts-based investment approach is feeding through to the prices offered to pension schemes entering BPA transactions by insurers.

The UK’s equity release securitisation market has re-emerged in recent years as a tool in a life insurer’s capital optimisation effort.