Browsing: Pension Risk Transfer

Milliman’s latest Milliman Pension Buyout Index (MPBI) suggests the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process rose from 100.8% of a plan’s accounting liabilities to 101.7% of those liabilities in September.

The Walkers Shortbread Limited Retirement Benefits Scheme has completed a £34m bulk purchase annuity buy-in transaction with Legal & General, securing the benefits of 161 retirees and 238 deferred members.

The trustee of the G4S Pension Scheme has completed a £1.8bn bulk purchase annuity buy-in transaction with Just Group, insuring the benefits of around 22,500 scheme members.

Consultants Isio has facilitated a £20m buy-in transaction for an unnamed defined benefit scheme in the UK.

Data – either a lack of it, too much of it or even the wrong kind – is proving a challenge to the UK’s pension risk transfer market.

The different risk exposures and risk appetites of insurance companies mean that reinsurance is used in a number of ways as there is not a ‘one size fits all’ offering.

The Atradius UK Pension Scheme has concluded a £190m bulk purchase annuity buy-in transaction with PIC that secures the pensions of 361 current pensioners and dependents, 344 deferred members and 66 active members.

Pension consulting firm K3 Advisory has led the completion of a £2m full scheme buy-in transaction with an unnamed sponsor in the mechanical and electrical industry with Legal & General.

£70m buy-in transaction will secure the benefits of all uninsured scheme members, covering approximately 490 deferred members and 400 pensioner members.

£7m deal was completed in March and insures the benefits of 24 pensioners and 15 deferred members.