Author: LMI Newsdesk

£100m bulk purchase annuity transaction secures the benefits for 650 scheme members.

The transaction involved the reinsurance of a block of whole life liabilities for a pan-Asian insurance provider.

The main proposed update is the adoption of the 2015 Valuation Basic Tables for mortality rates.

11m bulk purchase annuity buy-in secures the benefits of 87 members, comprising 62 pensioners and 25 deferred members.

Under the agreement, more than 400 members of the Scheme and approximately £40m of assets will transfer to Clara.

The transaction covered £400m of assets and secures the future pension benefits of more than 3,000 pensioners and 4,000 deferred scheme members.

During July, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process in the US inched up by 10 basis points, from 99.6% to 99.7% of a plan’s accounting liabilities.

Following the full scheme bulk purchase annuity buy-in for the scheme in June 2025, Utmost Life and Pensions has issued 362 individual buy-out policies to scheme members and dependants.

£1.65bn bulk purchase annuity buy-in secures benefits for all 16,400 scheme members.

Bermuda and, to a lesser extent, the Cayman Islands, have gained popularity among ceding companies amid increased demand for retirement solutions.