But operating profit and bulk annuity sales drop from the same period of 2020
Provider and insurer also saw a 30% growth in AUM within its DC business
Benefits for fewer than 60 members of the Tesco subsidiary scheme to head to buyout
Treasury sets out plans for Solvency II reforms with a desire to improve asset and risk options
Gambling company scheme prepares to wind up as insurer takes on DB policies
Deferred members comprised the majority of the insured 530-person cohort
Insurers are being pressed to offer bulk annuities to a wider range of scheme sizes
The Nortel Networks UK Pension Plan has agreed a further £105m buyout with Legal & General (L&G), topping up the benefits agreed in a prior deal.
The defined benefit (DB) scheme of Shepherd Foods (London) has completed a £3m buyout with Aviva, insuring the benefits of 13 pensioner and deferred members.
Rothesay has completed a £6m follow-on buyout with an unnamed aviation scheme, insuring benefits of eight pensioners and 31 deferred members.