A consequence of a slowing US pension risk transfer market this year is that more insurers are bidding on more deals.

The life & annuity sidecar market in Bermuda has grown almost four-fold to approximately $375bn according to a recent report from ratings agency Morningstar DBRS.

Increased competition for defined benefit pension schemes’ de-risking business in the UK has resulted in many insurers offering value-added incentives to better attract trustees and sponsors.

Decision by the US Court of Appeals for the Eighth Circuit affirmed the summary judgment decision of the United States District Court for the District of Nebraska that held that a $4m life insurance policy was void from inception as an illegal stranger-originated life insurance scheme.