The Marie Curie defined benefit (DB) scheme has entered into a circa £30m full scheme buy-in agreement with Legal & General (L&G) Assurance Society.
Between £30bn and £40bn of pension risk is expected to be transferred to insurers via buy-ins and buyouts this year, Aon says.
The Maersk Retirement Benefit Scheme has agreed a £1.1bn buy-in with Legal & General (L&G) Assurance Society, protecting benefits for around 4,900 members.
The Aon Retirement Plan has completed a £510m pensioner buy-in with Scottish Widows, insuring members in the Aon Bain Hogg Pension Scheme section.
Aon has urged the pensions industry to avoid over-reacting to the impact of Covid-19, as it predicts another huge year for the UK risk settlement industry in 2021.
Darryl Brundle and Ashley Kanter look at the contrasting pressures and easements on longevity associated with the pandemic
Fewer pension schemes are targeting self-sufficiency as their long-term objective while bulk annuity pricing improves and the consolidation market opens up.
Around £50bn of risk will be transferred to the bulk annuity and longevity swap market by the end of the year despite a slow start to the market, Aon says.
The Marathon Service (GB) Limited Pension and Life Assurance Scheme has completed a £610m full buy-in with Rothesay Life, covering the benefits of more than 1,400 members.
Just Group completed £460.3m of bulk annuity deals in the six months to 30 June, its half-year results have revealed.