De-risking deals hit £10.2bn last year thanks to a busy second half as concerns over Solvency II waned, according to Lane Clark & Peacock (LCP).
Prudential Retirement has reinsured benefits for around 22,500 pensioners, after taking on liabilities from Rothesay Life in their sixth deal together.
The volume of bulk annuity deals written in the first half of 2016 was 40% smaller compared to the previous year, according to Aon Hewitt.
While moving to CPI indexation can significantly reduce scheme liabilities, it can make buy-ins and buyouts more expensive. Kristian Brunt-Seymour finds pricing has slightly improved but still has a long way to go
BHS and Tata Steel are not the only businesses struggling to deal with sizeable deficits. Perhaps a new approach is needed?
PP explores the option of putting the British Steel scheme through the bulk annuity market.
The biggest stories this week were backlash over Bentley's plans to pass NI costs onto DB members, Rothesay Life buying two-thirds of Aegon's bulk annuity book, and speculation over the future of the British Steel scheme.
Aegon has sold a £6bn UK annuity portfolio to Rothesay Life in a bid to focus on expanding its investment platform.
Ray King has been appointed Rothesay Life's independent non-executive chairman. He replaces Keith Satchell who retires as chairman after nine years.
The bulk annuity market had a record final quarter in 2015 as buy-in and buyout deals totalled £5.4bn, according to LCP.