Zurich

Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.

Thousands of savers taking tax-free lump sums ahead of retirement are at risk of a pensions shortfall in later life due to neglecting their remaining pot, Zurich has warned.

Sterling has fallen on the back of inflation figures released this morning, which show the UK Consumer Price Index (CPI) remained steady at 2.4% in June.

Some 41% of people in drawdown are not adjusting their pension income levels to account for stock market volatility, analysis by Zurich has found.

UK inflation stuck at 2.4% in May, missing analysts' estimates of a move higher and further cooling expectations on an interest rate hike from the Bank of England this summer.

First woman in its 100-year history

The National Grid Electricity Group has completed an intermediated longevity swap with Zurich for the Electricity Supply Pension Scheme (ESPS).

A third of drawdown users lack any investment experience but many of those do not seek any financial guidance or advice, Zurich research finds.

Greg Wenzerul has been appointed Zurich's first head of longevity risk transfer, as it seeks to grow its business in the market.

Women using drawdown can expect to receive £47,000 less in their pension pot over a typical 20 year retirement period, according to Zurich.