Browsing: Longevity and Mortality Risk Transfer
Longevity and Mortality Investor’s coverage of the longevity and mortality risk transfer market, including pension risk transfer, longevity swaps and other de-risking activities
Despite property representing a major source of household wealth, equity release is largely still absent from retirement planning discussions in the UK, according to new research from Canada Life.
Melville-Kelly now reports to Jim Boyd, CEO, and remains director of risk and compliance; the restructure follows a December Extraordinary General Meeting (EGM) where members agreed to a special resolution broadening the Council’s remit across all forms of later life lending within the regulated mortgage environment.
Well over half (58%) of defined benefit pension scheme members in the UK would support their scheme running on to generate a surplus, according to the latest Excellence in Endgames research paper from Hymans Robertson.
The Dr. Martens Airwair Group Pension Plan has completed a £37.5m bulk purchase annuity buy-in with Pension Insurance Corporation. The deal covers the 455 plan members.
Well over half (58%) of defined benefit pension scheme members in the UK would support their scheme running on to generate a surplus, according to the latest Excellence in Endgames research paper from Hymans Robertson.
£155m bulk purchase annuity buy-in covers the benefits of 1,581 plan members.
Utmost Group is selling its bulk purchase annuity business, Utmost Life and Pensions JAB Insurance. The sale encompasses the entire ULP business, representing more than £5bn in assets and 175 employees.
The Skanska Pension Fund has purchased a £525m full scheme bulk purchase annuity buy-in covering all of its c.5,500 members, from Standard Life. The buy-in included the novation of the fund’s existing longevity swap which it held with Zurich Assurance since 2017.
The Peel Ports Final Salary Pension Scheme has completed a £230m bulk purchase annuity buy-in with PIC, covering the pensions of c.2,000 members across a number of Peel Ports Group companies.
During November, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process remained level, at 100.1% of a plan’s accounting liabilities.