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Total new annualized life insurance premium in the US increased 16% year over year to $4.3bn in the third quarter, according to LIMRA’s preliminary individual life insurance sales results.
The aggregate surplus of the 4,969 schemes in the Pension Protection Fund’s 7800 Index increased by £16.2bn through October 2025, rising to £271.3bn in surplus, and the funding ratio rose by 0.7 percentage points to 129.8% and the number of schemes in surplus rose to 3,844, representing more than three-quarters (77.4%) of all schemes in the universe.
The buy-in, completed in June 2025, insures the benefits of all 30 members – 15 deferred and 15 pensioners.
The transactions, completed in July 2025, secure the benefits of approximately 980 members across the two schemes.
The deal secures the future benefits of 300 pension scheme members – 160 deferred members and 140 pensioners.
The Premdor Crosby Pension Plan has completed a £16m bulk purchase annuity buy-in with Royal London. This buy-in, which covers 181 members, is the first that Royal London has completed with BESTrustees as Chair of Trustees.
Total US annuity sales increased 4% to $119.3bn in the third quarter of 2025, setting yet another quarterly sales record, according to LIMRA. This marks the eighth consecutive quarter of $100+bn in sales.
Pension schemes sponsored by Ford Motor Company Limited, including the Ford Hourly Paid Contributory Pension Fund and the Ford Salaried Contributory Pension Fund, have completed bulk purchase annuity buy-ins with Legal & General worth a total of £4.6bn.
New research from Standard Life suggests that the current push for bulk purchase annuity buy-ins in the UK pension risk transfer market looks set to continue as 40% of defined benefit trustees that are targeting BPA as their end-game strategy expect to approach an insurer in the next 12 months.
TPT Retirement Solutions has announced its intention to launch a new Defined Benefit pension superfund designed to support run-on. Both The Pensions Regulator (TPR) and the Department for Work and Pensions (DWP) have expressed their support for superfunds, which offer schemes an alternative endgame solution.