Lucida

Legal & General (L&G) interim results show growth across its bulk annuities, workplace savings and investment management businesses.

The three biggest bulk annuity insurers accounted for more than 90% of new business written in the six months to April according to research from Aon Hewitt.

Legal & General Assurance Society has acquired closed UK annuity buy-out company Lucida from LCM Holdings in a deal worth £151m.

The volume of bulk annuity business written in the first quarter of the year dropped by 85% compared to the final quarter of 2011, says Aon Hewitt.

The Pensions Administration Standards Association has elected Lucida operations director Margaret Snowdon as its chairman for the next three years.

The pension scheme risk transfer market is set to grow a further £20bn over the next 18 months, Hymans Robertson figures predict.

This month the panellists discuss the arbitrage opportunities that come with QE, how insurers will help schemes cope with the switch from RPI to CPI, and their predictions of the effect of lower initial premiums paid on buy-ins

Increasing numbers of firms are closing defined benefit schemes to future accrual as they struggle to meet obligations, Lucida says.

A record £12.5bn risk transfer deals were done in the first half of the year and a quarter of major firms will de-risk by 2012, Hymans Robertson predicts.

Chairman Akash Rooprai asks the panellists for their views on the development of longevity protection products, the effect of Solvency II on annuity books, tools to help clients understand their funding levels, and the impact of insurers exiting the market...