Browsing: Pension Risk Transfer
Longevity and Mortality Investor’s coverage of the pension risk transfer market, providing analysis, commentary and insights on the global PRT space.
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.
The deal, which included a novation of the scheme’s existing longevity swap and the transfer of illiquid assets, was completed in August this year.
Farooqui spent time previously at Aon and Mercer.
During September, 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%.
The K3 team and brand will continue to operate as a distinct service offering within the Isio group.
All pensions within the CWPF Defined Benefit Scheme are now backed by insurance policies.
The transaction was completed in September 2024 and secures the benefits for approximately 15,000 members of the scheme.
Annual report from LCP says that annual market volumes should average out at 2024 levels over the next decade.