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£155m bulk purchase annuity buy-in covers the benefits of 1,581 plan members.
Chris Conway, Managing Director at Vitaro Group, was appointed Chair of ELSA for 2026; Brandon Marz, Chief Strategy Officer at LifeRoc Capital, was appointed ELSA’s Deputy Chair.
Kosmos plans to manage RiverRock’s funds to the end of each fund’s life and not to raise more capital under the RiverRock name.
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.
The Ridsdale Pension and Death Benefit Trust has completed a £7m full scheme bulk purchase annuity buy-in with Just Group, securing the benefits of 30 members – 22 pensioners and 8 deferred members.
The Lincolnshire Co-operative Pension Scheme has completed a £107m bulk purchase annuity buy-in with Rothesay. The transaction secures the benefits for approximately 2,300 members.
Cashing Out has been shortlisted for the Best Documentary Short Film at the 98th annual Academy Awards.