Author: LMI Newsdesk
The Trustees of the Ferno (UK) Limited Retirement and Death Benefits Scheme have agreed a c. £4m full scheme buy-in with Legal & General. The transaction was agreed in October 2025 and covers approximately 100 scheme members.
Canada Life has appointed Dominic Carpenter as Bulk Purchase Annuities Commercial & Strategy Director, a new role at the firm. Carpenter will lead the commercial development of Canada Life’s bulk annuities business and drive initiatives across commercial strategy, reinsurance and pricing to support its BPA growth ambitions.
Generali Investments’ wholly owned subsidiary, Conning & Company, will acquire a majority stake in private credit manager MGG and its affiliates. MGG will continue to be led by CEO & CIO Kevin Griffin with no changes to MGG’s investment strategy or processes.
The BP Pension Fund has completed a £1.6bn bulk purchase annuity buy-in transaction with Legal & General. The deal was the first pension risk transfer transaction for the c.£18bn fund; L&G provided a gilt-based price lock using the fund’s gilt holdings to ensure price certainty.
Fidelity & Guaranty Life Insurance Company and Fidelity & Guaranty Life Insurance Company of New York, will assume responsibility for pension benefits for approximately 3,150 retirees and beneficiaries.
Athene will reinsure an in-force block of US dollar denominated whole life insurance policies and will enter into an agreement with reinsurer Swiss Re to retrocede all mortality risk associated with the block.
This latest buy-in covers 758 members and marks the first transaction completed with Quantum Advisory.
Total US pension risk transfer new premium fell 64% in the second quarter of 2025 to $4.1bn, according to LIMRA’s U.S. Group Annuity Risk Transfer Sales Survey.
Transaction volumes of £9.8bn in the first six months of 2025 are the lowest first half volumes seen in the UK’s pension risk transfer market for four years.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.