All Bulk annuities articles – Page 14
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News
PPF chief hints at closing superfunds’ regulatory advantage
Consolidation vehicles hoping to hoover up assets from deficit-weary employers could see their prices forced upwards by tough levy requirements and insurance-style protections, the chief executive of the Pension Protection Fund has said.
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News
Choosing the right derisking path
Analysis: Consultants say bulk annuity pricing has never been so attractive, yet the majority of pension schemes see self-sufficiency as their likely destiny. Who is wrong?
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News
Post Office workers’ scheme agrees £450m buy-in
The Royal Mail Pension Plan has agreed a £450m bulk annuity transaction to insure the liabilities of its Post Office Limited section.
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News
WPP buys in £140m across five schemes
Communications services giant WPP has insured £140m of defined benefit liabilities with the Pension Insurance Corporation.
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OpinionSelf-sufficiency is not a permanent solution
What is self-sufficiency? It is certainly not a position of nil risk, as some assume, as that would mean passing the risk to someone else.
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News
Bulk annuity transfers to pass £15bn in 2018
2018 will be the first year in which buyouts and buy-ins for UK defined benefit schemes exceed £15bn, consultancy LCP has predicted, with improved funding levels and keen insurer pricing helping to establish a “new normal” in the bulk annuity market.
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OpinionBuy-ins and buyouts: The quiet revolution
From the blog: We reached a new milestone in late 2016: the pensions of more than 1m people in the UK are now insured through a buy-in or buyout.
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News
Share prices hit by DB deficits could spur fresh derisking drive
Defined benefit pension deficits are dragging down the market capitalisations of FTSE 100 companies, according to a recent study, as investors recognise the difference between disclosed deficits and the cost of securing benefits upon insolvency.
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FeaturesPirelli announces £600m longevity swaps as deal flow set to accelerate
Italian tyre manufacturer Pirelli’s two main UK pension schemes have agreed longevity swaps covering £600m of pensioner liabilities, as researchers have suggested market volatility and insurer competition mean schemes could see attractive prices emerge on risk settlement products.
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OpinionInnovation in the bulk annuity market
The end of 2015 saw bulk annuity providers scrambling for the Solvency II line. Deal activity gave way to introspection as insurers looked to solve myriad internal practical challenges relating to the directive.
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News
Consultancy looks to group small schemes for bulk annuity scale
Consultancy KPMG is looking to group small schemes together before bringing them to the bulk insurance market, allowing them to better access the buy-in and buyout markets, but rivals have said governance could prove a challenge.
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FeaturesMUMS the word: Medically underwritten mortality studies' benefit questioned
Analysis: Medical underwriting of defined benefit scheme members to facilitate bulk annuity insurance transactions has taken off over the past two years, but industry experts are sceptical of the benefits of using medical data for scheme valuations.
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Opinion
How to take advantage of medically underwritten bulk annuities
Insuring members of a defined benefit scheme through a bulk annuity can appear expensive when compared with the value of liabilities on a scheme funding or an accounting basis.
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Opinion
Is the medically underwritten annuity market too good to be true?
With many schemes seeking to take advantage of insurance pricing based on members' individual health rather than the more traditional postcode models, we have seen the emergence of a new approach to the pricing of bulk annuities.
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News
Recycled annuities could offer income for DB, but buyer beware
Alongside Wednesday’s Budget, the government will launch a consultation on the viability of a secondary market to allow pensioners to cash in their annuities, but questions remain over who would buy them.
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News
Derisking market outpaces earlier estimates, topping £35bn
At £35bn, 2014's record derisking activity has exceeded initial estimates, a report has found, with experts also predicting a changing view of longevity will bring sustained market growth.
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News
Secondhand annuities could offer DB funds income, but pricing tricky
The pensions minister’s proposal to allow retirees to cash in annuities could suit defined benefit schemes eager to access the resultant long-term cash flows, but pricing “secondhand” annuities could be a sticking point.
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Opinion
How stubbornly low gilt yields are impacting the bulk annuity market
Looking at the volume of bulk annuity cases being completed over the past year or so you would have to conclude that ongoing low gilt yields are not having the detrimental effect on the market that many commentators have been predicting.
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Opinion
Risk Transfer Index: July 2014
Data analysis: The market's shape is changing, as insurers seek new investment opportunities and risk strategies evolve.
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NewsNext splits pension fund in bid to turn buy-in to buyout
High-street retailer Next is planning to complete a partial buyout worth around £150m within three months, after completing an innovative split of its pension fund to hive off the lion’s share of its pensioner liabilities.