PwC has launched an off-shore longevity swap vehicle intended to reduce the cost of longevity swaps for schemes as small as £250m.
The Scottish Power Pension Scheme has entered into a swap with Abbey Life to hedge the longevity risk associated with £2bn of liabilities.
The trustee of the Merchant Navy Officers Pension Fund (MNOPF) has hedged the longevity risk for £1.5bn of the scheme's members.
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Rothesay Life has hedged the longevity risk relating to £1bn of its pension liabilities in a series of deals with Pacific Life Re.
Towers Watson has launched an off-shore longevity hedging service to give medium-sized schemes direct access to the reinsurance market.
Matthew Fletcher has been appointed as a senior longevity technical consultant by Hymans Robertson.
Punter Southall has appointed Colette Christiansen to the newly-created position of head of de-risking solutions in a bid to increase its presence in the bulk annuity advice market.
The bulk annuity market will hit £20bn in the next few years, driven by growing appetite from insurers and the maturing of defined benefit (DB) schemes, says KPMG.