Author: LMI Newsdesk
HSCM Bermuda Closes Secondaries Fund to Acquire Life Insurance-Linked Securities Portfolio: HS Sawmill LP closes with $110m of capital commitments.
The transaction secures the benefits of more than 1,900 members and was finalised in August this year.
In total, the £105m buy-in protects the pensions of 1,341 members across both Schemes.
During August, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 100.1% to 100.0% of a plan’s accounting liabilities.
Completed in June 2025, the transaction secures the benefits of over 1,000 pensioners and dependents as well as over 750 deferred members.
The overall mood at the event was upbeat, with attendees generally seeing the industry as having successfully navigated the macroeconomic tumult of recent years.
Fenwick’s pension schemes have completed bulk purchase annuity buy-in transactions totalling £113m with Aviva. The transactions are part of a series of deals that stretch back to 2012.
The number of policies sold rose 7% in the second quarter, which is the highest growth rate recorded in LIMRA’s quarterly survey since 1983.
Buy-in insures the benefits of all 348 members of the defined benefit section of the Scheme, sponsored by Welcome Break Group Ltd.
£1m bulk purchase annuity buy-in, completed in June 2025, insures the benefits of all members of the scheme.