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Pensions buyout market adapts to changed market
03 June 2009
Lane Clark & Peacock has published the second of its Pension Buyouts Report, which analyses the pensions buyout and longevity transactions in the UK.
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buyouts
longevity
insurance
liability management
swaps
de-risking
Lane Clark & Peacock, the London-based actuarial consultant, has published the second of its Pension Buyouts Report, which analyses the pensions buyout and longevity transactions in the UK. The report uses contributions from AEGON, AIG Life, Aviva (formerly Norwich Union), Legal & General, Lucida, MetLife, Paternoster, Pension Insurance Corporation, Prudential and Rothesay Life (Goldman Sachs).
The key conclusions of the report are as follows:
• The September 2008 financial crisis marked the start of a new chapter in the UK pension buyout market, requiring pension plans and insurance companies to adapt to unprecedented global events.
• Insurance companies responded through stronger reserving and more cautious pricing. Paternoster has gone one step further and agreed with the FSA that it will not, for the...
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