Buy-outs and buy-ins – Winter 2016

Published by Gavin Markham on

After a relatively quiet start to the year, a number of pension schemes have completed significant bulk annuity transactions in the second half of the year. Taken together with the reinsurance transactions for retail annuity books of other insurers, 2016 will be another substantial year for the bulk annuity providers.

In this latest edition we look at:

  • A summary of the bulk annuity business completed in the first half of 2016 with UK pension schemes
  • The latest insurer news including an update on the new JRP Group
  • Significant transactions in the industry including completion of the largest transaction with a pension scheme so far in 2016 – the Vickers Group Pension Scheme – a £1.1 billion buy-out for this part of the Rolls-Royce Group
  • Rising yields have improved absolute pricing following the dramatic increases in insurer pricing prompted by the EU Referendum result earlier in the year

To download the full briefing note, please see below.