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.
UK schemes have increased longevity assumptions by six months in the last three years, according to research from Mercer.