Reinsurance News

bulk annuity

U.S. life/annuity market growth likely following robust 2017: A.M. Best

23rd May 2018

A.M. Best has announced its expectations for the U.S. life/annuity (L/A) market to build on a generally positive 2017. They see an overall growth in 2018 thanks in part to higher interest rates and continued demand from consumers for both protection and accumulation products. A.M Best also indicated the industry is well ... Read the full article

Marks & Spencer secures £1.4bn pension scheme buy-in

17th May 2018

Following the closure of its £10 billion defined pension scheme to future accrual in 2017, Marks & Spencer has further reduced risks by completing a £1.4 billion pension liabilities buy-in with insurers Aviva and Phoenix Life. The scheme’s position has gradually improved through a close working relationships with trustees and their ... Read the full article

Risk settlement market remains promising in 2018: Aon

11th April 2018

Aon has reported that the risk settlement market presents many attractive opportunities for re/insurers in 2018, with the strong pricing seen in 2017 expected to continue throughout the coming year. The projection was part of Aon’s ‘Risk Settlement Market 2018’ report, which analysed 2017’s market trends and generated predictions for the ... Read the full article

UK annuity market shows maturity, 2018 poised to be most active year: Intermediaries

16th March 2018

Following the announcement that Rothesay Life has reinsured a £12 billion chunk of Prudential plc’s annuity book, intermediaries have noted increased maturity in the UK bulk annuity market, with 2018 set to be the most active year on record for bulk annuities (buy-ins and buy-outs). According to James Mullins, Head of ... Read the full article

UK annuity market presents a “significant” opportunity for re/insurers

23rd February 2018

With a total addressable defined benefit (DB) market size of GBP2.3 trillion, the UK annuity market presents a significant opportunity for insurers and reinsurers as more pension schemes de-risk liabilities, driving demand for longevity reinsurance, according to Fitch's UK Annuity Market report. BPA market deals nearly doubled in 1H17 compared with ... Read the full article

PIC in $140 million pension insurance buy-in with WPP

7th February 2018

Specialist, defined benefit pension fund insurer, Pension Insurance Corporation plc (PIC), has insured five WPP pension schemes in a new $140 million transaction, covering pensioner and deferred liabilities. The agreement covers $140 million of defined benefit pension fund liabilities across five pension schemes sponsored by WPP, the world's largest communications services ... Read the full article