PENSION RISK TRANSFER
IPC Media Pension Scheme insured £290 million in liabilities through a buy-in with Rothesay Life.
Willis Pension Scheme insured $1.2 billion in liabilities through a longevity swap with Munich Re.
Pension risk transfer premiums dropped significantly in May due to a continued drop in both discount rates and annuity purchase rates.
General Healthcare Group Pension and Life Assurance Plan insured $188 million in liabilities through a buy-in with Aviva.
Conducting a pension risk transfer could be good for a company's share price, with outperformance of up to 3% over time.
Unomedical Pension Plan insured $12.3 million in liabilities through a buyout with Aviva.
Pensions & Investments has reported more than $200 billion in defined benefit liabilities moving to insurers from plan sponsors over the past decade. The market has had more than 30 insurance companies participate. However, the majority of the buy-ins and buyouts have been concentrated in five insurers. In addition to liability transfers, more than $100 billion of longevity risk has been assumed by insurance companies. Prudential accounts for almost one-third of all activity.
London-based British Bankers' Association insured $114.9 million in liabilities through a buy-in with Aviva.
3i Group Pension Plan insured $786.2 million in liabilities through a buy-in with Legal & General Assurance Society.
U.S. corporate pension plan buyout sales totaled $4.5 billion in the first quarter, 6.2% lower than the same period in 2019.
