Published by Mark Paxton on
Pension Insurance Corporation won the largest value of business in Quarter 2 with transactions worth approximately £1.65bn. This was mainly due to the £1.6bn pensioner transaction between Pension Insurance Corporation and the Total UK Pension Plan. Rothesay Life and Prudential both won business worth approximately £0.3bn during the quarter.
Mark Paxton, Senior Bulk Annuity Consultant said: “In terms of the value of business won, 2014 is well on course to be a record-breaking year. The £1.6bn Total UK transaction and the £3.6bn ICI transaction earlier in the year demonstrate that large deals such as these can be achieved.
“In terms of the value of business won, 2014 is well on course to be a record-breaking year.”
“Other insurers are considering their entry into the market which should increase competition and provide a boost to capacity next year, particularly at the smaller end of the market. However, it is important that schemes are well-prepared if they want to obtain quotes – insurers are looking carefully at the cases they will quote on to make sure a transaction is realistic.”