This year set to be one of the biggest on record for bulk annuities and longevity swaps
Aon's Hannah Brinton looks at how the longevity swap market has evolved in 2022
Deal covers pensioner liabilities in the Lloyds Bank Pension Scheme No.1
Despite subdued market 2021 also expected to be third busiest year after H2 stampede
Swaps can work for schemes of any size, say Suthan Rajagopalan and Greg Wenzerul
Willis Towers Watson special report
The ICL Group Pension Plan has entered into a £3.7bn intermediated longevity swap via a Guernsey-based captive, with Swiss Re reinsuring the risk.
The Prudential Insurance Company of America (PICA) has concluded a £6bn longevity reinsurance deal, with Zurich Assurance acting as an intermediary on a pass-through basis.
There have now been more than 30 longevity swaps over £1bn publicly announced. The full list, provided by Willis Towers Watson and through PP research, is as follows...
The uncertainty surrounding the potential impact of so-called long Covid and behavioural changes heightens the need for schemes to increase their longevity hedging, says Prudential Financial.