All Buy-in articles – Page 8
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NewsUK’s bulk annuity market to reach £25bn in second half of 2021
On the go: Despite a quieter start to the year in the UK’s bulk annuities market, the second half of the year is “expected to be very busy” reaching a volume of around £25bn in deals, analysis from Legal & General has shown.
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NewsBritish American Tobacco secures second buy-in with PIC
On the go: The £4.2bn British American Tobacco UK Pension Fund, has signed an additional buy-in deal with Pension Insurance Corporation, insuring approximately £400m of pensioner liabilities.
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NewsLegal & General DB scheme secures £925m derisking transaction
On the go: The Legal & General Group UK Pension and Assurance Fund has completed a £925m assured payment policy transaction with Legal & General Assurance Society.
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NewsKingfisher completes £900m buy in; Londis scheme winds up
Risk watch: A roundup up of the latest derisking transactions, including the Kingfisher scheme’s £900m buy-in with Aviva and the Londis scheme winding up after a bulk annuity transaction.
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NewsDigital imaging scheme completes £230m buy-in
On the go: The Agfa UK Group Pension Plan has completed a £230m annuity buy-in transaction with Phoenix Group, covering 70 per cent of its pensioner liabilities.
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NewsCommonwealth Bank of Australia scheme secures full buy-in
On the go: The Commonwealth Bank of Australia (UK) Staff Benefits Scheme has agreed a circa £420m full buy-in with Legal & General Assurance Society.
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OpinionTop 5 considerations for trustees considering residual risk buyout
Despite the Covid-19 pandemic, the UK pensions derisking market has remained resilient, with deal volumes of around £25bn in 2020 and a steady (albeit slower) flow of deals being completed in the early months of 2021. Therefore, it is clear that pension trustees are continuing to think about their derisking plans.
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NewsLadbrokes Pension Plan agrees £420m buyout with Rothesay Life
On the go: The Ladbrokes Pension Plan has agreed a full buyout worth £420m with Rothesay Life, the scheme confirmed to Pensions Expert’s sister publication MandateWire.
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NewsGivaudan scheme completes £64m buy-in with Aviva
On the go: The Givaudan UK Pension Plan has completed a £64m buy-in transaction with Aviva, covering the pensioner liabilities for 277 members.
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NewsQinetiQ scheme completes buy-in with L&G
On the go: The £2bn QinetiQ Pension Scheme has completed a £130m buy-in with Legal & General Assurance Society. LCP acted as the lead adviser on the transaction and provided derisking advice.
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NewsMorrisons’ pension schemes complete buy-ins
On the go: The £5.1bn Morrison and Safeway Care Schemes, which include the Wm Morrison 1967 Section of the Morrisons Retirement Saver Plan and the Safeway Pension Scheme, entered into two new buy-in policies during the year to January 2021.
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NewsDB schemes overestimating endgame timeline goals
On the go: Almost half of defined benefit schemes are expecting to reach endgame in five to 10 years, which could be a cautious forecast as trustees’ risk missing strategic opportunities, according to Aon.
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NewsShipping agency scheme completes £17m buy-in with L&G
On the go: The John Good & Sons Limited Pension Scheme has agreed a £17m full scheme buy-in with Legal & General, covering the liabilities of more than 80 members.
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NewsTUI pension schemes agree £800m buy-ins with L&G
On the go: The circa €2.4bn (£2.1bn) TUI Group UK Pension Trust, comprising the BAL Scheme, TUI UK Scheme and TAPS Scheme, has secured two buy-ins worth around £800m with Legal & General Assurance Society.
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NewsAIB signs £61m buy-in with L&G after pioneering derisking solution
On the go: The £1.1bn AIB Group UK Pension Scheme has agreed a £61m deal with Legal & General Assurance Society that will see a tranche of an existing assured payment policy converted into a buy-in policy.
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NewsWyeth Group scheme secures £190m buy-in with Aviva
On the go: The circa £446.9m Wyeth Group Pension and Life Assurance Scheme, which includes both defined benefit and defined contribution sections, has completed a £190m annuity buy-in transaction with Aviva.
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NewsCII scheme completes full buy-in with L&G
On the go: The Chartered Insurance Institute Pension Scheme 1993 has completed a £55m full buy-in with Legal & General Assurance Society.
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NewsCould FSCS cope with a major bulk annuity provider default?
As sponsors offload their pension schemes to insurers, industry experts fear that an ever-increasing concentration of assets with a small group of players could lead to compensation schemes being overwhelmed in a major downturn.
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News£6bn swap shows insurers’ appetite for longevity risk
On the go: A £6bn longevity swap by an unnamed UK pension scheme and the Prudential Insurance Company of America suggests that insurers’ appetite for longevity risk has not diminished, despite the uncertainty around the long-term impacts of the Covid-19 pandemic.
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NewsAviation scheme spared material detriment in sponsor’s acquisition
On the go: The trustee of the Signature Aviation Income and Protection Fund has been left satisfied after the pension scheme escaped any material detriment arising from its sponsor acquisition by Brown Bidco.