ART

2166 bookmarks
Custom sorting
Rolls-Royce DB scheme fully insured after £4.3bn PIC buy-in
Rolls-Royce DB scheme fully insured after £4.3bn PIC buy-in
Rolls-Royce’s defined benefit pension scheme is now fully insured after a £4.3 billion buy-in with Pension Insurance Corporation, completing the de-risking journey that began with a £4.6 billion buy-in with Legal & General in 2019 and securing benefits for 36,000 members. PIC noted its capacity for large transactions could be enhanced by its pending £5.7 billion acquisition by Athora, an insurer backed by US private capital group Apollo, subject to approvals, framing this as a landmark deal in an active UK bulk annuity market. [Source: Pensions Expert]
#Longevity#Pensions#ART#UnitedKingdom
·pensions-expert.com·
Rolls-Royce DB scheme fully insured after £4.3bn PIC buy-in
NN Group enters into longevity risk transfer agreement with Prudential
NN Group enters into longevity risk transfer agreement with Prudential
The Prudential Insurance Company of America entered into a $4 billion longevity risk transfer agreement with NN Life & Pensions, a subsidiary of NN Group. The reinsurance agreement covers approximately 96,000 policyholders. The deal marks Prudential’s second international longevity reinsurance transaction with NN Life & Pensions, and continued expansion within the Dutch market. [Source: Prudential]
#Longevity#Pensions#Netherlands#ART
·news.prudential.com·
NN Group enters into longevity risk transfer agreement with Prudential
Mangrove Risk Solutions issues $22.43m private catastrophe bond
Mangrove Risk Solutions issues $22.43m private catastrophe bond
The Mangrove Risk Solutions private insurance-linked securities (ILS) platform operated by Marsh McLennan and reinsurance broker Guy Carpenter issued $22.43 million Mangrove Risk Solutions Bermuda Ltd. (Series 2025-C1) one-year catastrophe (CAT) bonds. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Mangrove Risk Solutions issues $22.43m private catastrophe bond
National Grid insures DB scheme through £900m buy-in with Rothesay
National Grid insures DB scheme through £900m buy-in with Rothesay
National Grid finalized a £900 million buy-in deal with Rothesay for its UK Pension Scheme, marking its third such transaction in six years and bringing the total insured liabilities with Rothesay to £4.5 billion. This latest deal, completed in July 2025, provides insurance coverage for 7,130 pensioners and dependents. National Grid's pension scheme has previously executed major buy-ins with Legal & General and Aviva. [Source: Pensions Expert]
#Longevity#Pensions#United Kingdom#ART#UnitedKingdom
·pensions-expert.com·
National Grid insures DB scheme through £900m buy-in with Rothesay
MMC pension fund’s Sedgwick section completes £1.9bn buy-in with Standard Life
MMC pension fund’s Sedgwick section completes £1.9bn buy-in with Standard Life
The Sedgwick Section of the MMC UK Pension Fund completed a £1.9 billion buy-in with Standard Life, securing the retirement benefits of roughly 6,500 former Sedgwick Group employees, a company acquired by Marsh McLennan in 1998. This transaction included the transfer of three existing longevity swaps with Canada Life Re, Munich Re, and The Prudential Insurance Company of America (PICA) from Mercer ICC Limited. [Source: PensionsAge]
#Longevity#Pensions#UnitedKingdom#ART
·pensionsage.com·
MMC pension fund’s Sedgwick section completes £1.9bn buy-in with Standard Life
Engineering organisation secures £40m buy-in with PIC
Engineering organisation secures £40m buy-in with PIC
The Institution of Mechanical Engineers has completed a £40 million buy-in for its defined benefit pension scheme with Pension Insurance Corporation, covering 200 members. The buy-in arrangement is seen as a simpler way to manage the pension scheme, allowing the institution to focus on its strategy and purpose. [Source: Pensions Expert]
#Pensions#Longevity#ART#UnitedKingdom
·pensions-expert.com·
Engineering organisation secures £40m buy-in with PIC
Franklin Electric to transfer pension obligations to Principal Life Insurance
Franklin Electric to transfer pension obligations to Principal Life Insurance
U.S.-based Franklin Electric Co. purchased a Single Premium Guaranteed Annuity Contract from Prudential Life Insurance Co. to transfer about $30 million in U.S. pension plan liabilities covering 684 retirees and beneficiaries to the insurer. Once the premium is paid and the transaction closes, Principal Life Insurance will guarantee the pension benefits of these participants. The purchase of the group annuity contract will be funded directly by assets of the pension plan, and no additional company contributions are expected before the transaction is completed. [Source: Investing.com]
#Pensions#Longevity#UnitedStates#ART
·investing.com·
Franklin Electric to transfer pension obligations to Principal Life Insurance
SageSure secures debut $50m Seawall Re reinsurance sidecar for Anchor Re
SageSure secures debut $50m Seawall Re reinsurance sidecar for Anchor Re
SageSure has sponsored its debut reinsurance sidecar transaction under Seawall Re Ltd., securing $50 million of third-party retro support. The sidecar will provide SageSure and its captive reinsurance vehicle Anchor Re with additional reinsurance capacity from investors. This marks an expansion of SageSure's activities in the capital markets, building on its successful sponsorship of the Gateway Re catastrophe bond series. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
SageSure secures debut $50m Seawall Re reinsurance sidecar for Anchor Re
California utility LADWP seeks third wildfire cat bond, up to $150m 123 Lights Re
California utility LADWP seeks third wildfire cat bond, up to $150m 123 Lights Re
The Los Angeles Department of Water and Power (LADWP) is looking to issue up to $150 million 123 Lights Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds. They will cover wildfire events in the state of California on a county-weighted industry loss index basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
California utility LADWP seeks third wildfire cat bond, up to $150m 123 Lights Re
M&G backs £205m buy-in for Huntsman Pension Scheme
M&G backs £205m buy-in for Huntsman Pension Scheme
M&G has completed a £205 million buy-in transaction with the Huntsman Pension Scheme, securing the pensions of over 660 retirees and deferred pensioners. The deal, completed in the first quarter of 2025, involves M&G's premium being "locked in" to the pension scheme's asset portfolio.
#Longevity#Pensions#UnitedKingdom#ART
·pensions-expert.com·
M&G backs £205m buy-in for Huntsman Pension Scheme
Eclipse Re issues $37.5m 2025-1A cat bond
Eclipse Re issues $37.5m 2025-1A cat bond
Eclipse Re privately placed $37.5 million Eclipse Re Ltd. (Series 2025-1A) single-tranche catastrophe (CAT) bonds maturing on March 31, 2026 (i.e., on year or less maturity). Nothing is known about the perils covered or the triggers, etc. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Eclipse Re issues $37.5m 2025-1A cat bond
Honda steers £800m buy-in with L&G for DB pension scheme
Honda steers £800m buy-in with L&G for DB pension scheme
Honda Group's UK defined benefit pension scheme has secured a £800 million buy-in deal with Legal & General (L&G), protecting the retirement benefits of over 1,700 retirees and 3,000 deferred members. The deal's structure included a combination of assets and cash, with a price lock to ensure price certainty.
#Pensions#UnitedKingdom#Longevity#ART
·pensions-expert.com·
Honda steers £800m buy-in with L&G for DB pension scheme
Swiss Re secures targeted $65m Matterhorn Re 2025-2 retro cat bond at low-end pricing
Swiss Re secures targeted $65m Matterhorn Re 2025-2 retro cat bond at low-end pricing
Swiss Re will issue the targeted $65 million Matterhorn Re Ltd. (Series 2025-2) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from North American earthquakes and named storms, each on an annual aggregate and weighted industry loss index trigger basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Swiss Re secures targeted $65m Matterhorn Re 2025-2 retro cat bond at low-end pricing
Sustained Demand for Pension Risk Transfer Deals Despite Member Concerns and Regulatory Scrutiny
Sustained Demand for Pension Risk Transfer Deals Despite Member Concerns and Regulatory Scrutiny
Morningstar DBRS published a commentary examining the rising demand for pension risk transfer (PRT) deals in light of growing retiree populations and longer life expectancy across the globe. With life expectancy trending higher across the globe, retiree populations are growing, driving increasing demand for retirement security solutions. Plan sponsors eager to reduce longevity risk exposures associated with defined benefit pension plans are entering PRT deals to reduce their balance sheet risk. A key driver for the continued PRT demand in 2024 was higher interest rates, which improved defined benefit pension plan funded ratios. The favorable interest rates also drove bond yields higher, improving insurers' fixed income investment returns and enabling insurers to offer more attractive pricing on PRT deals. However, the demand for PRT deals is attracting regulatory scrutiny especially in the U.S. and the UK, where a significant number of global PRT deals are done.
#ART#Pensions#Longevity
·dbrs.morningstar.com·
Sustained Demand for Pension Risk Transfer Deals Despite Member Concerns and Regulatory Scrutiny
Athora agrees to acquire PIC for £5.7bn
Athora agrees to acquire PIC for £5.7bn
Pan-European savings and retirement services group Athora Holding Limited has agreed to acquire Pension Insurance Corporation Group (PICG), the parent company of Pension Insurance Corporation (PIC), for £5.7 billion. Although it will become the UK insurance business of Athora, the group confirmed that it will continue operating under the PIC brand.
#Pensions#UnitedKingdom#ART#Longevity
·pensionsage.com·
Athora agrees to acquire PIC for £5.7bn
Swiss Re targets $65m retro wind / quake cover with Matterhorn Re 2025-2 cat bond
Swiss Re targets $65m retro wind / quake cover with Matterhorn Re 2025-2 cat bond
Swiss Re is looking to issue at least $65 million Matterhorn Re Ltd. (Series 2025-2) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from North American earthquakes and named storms, each on an annual aggregate and weighted industry loss index trigger basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Swiss Re targets $65m retro wind / quake cover with Matterhorn Re 2025-2 cat bond
Mercury secures 50% upsized $150m Luca Re cat bond for California fire protection
Mercury secures 50% upsized $150m Luca Re cat bond for California fire protection
California-based Mercury General Corporation will issue $100 million Luca Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds, versus the original $100 million target. They will cover losses from wildfires in the state of California on on an indemnity and per-occurrence basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Mercury secures 50% upsized $150m Luca Re cat bond for California fire protection
Baker Hughes completes three buy-ins worth £900m with PIC
Baker Hughes completes three buy-ins worth £900m with PIC
U.K. energy technology company Baker Hughes insured three of its pension funds in a buy-in transaction worth £900m with Pension Insurance Corporation (PIC). The deals across the three schemes – the Baker Hughes (UK) Pension Plan, the Brush Group Pension Scheme, and the Pipeline Integrity International (PII) Group Pension Scheme – securing pensions of over 3,000 pensioners and dependents, and nearly 4,000 deferred members. [Source: Investments & Pensions Europe]
#Pensions#Longevity#ART#UnitedKingdom
·ipe.com·
Baker Hughes completes three buy-ins worth £900m with PIC
Ariel Re secures Titania Re 2025-1 cat bond at upsized $150m
Ariel Re secures Titania Re 2025-1 cat bond at upsized $150m
Ariel Re will issue $150 million Titania Re Ltd. (Series 2025-1) two-tranche four-year catastrophe (CAT) bonds, versus the original $125 million target. They will cover losses from named storms and earthquakes across 50 U.S. states, Puerto Rico, U.S. Virgin Islands, D.C. and Canada, plus wildfire risks across the U.S. and District Of Columbia, on an annual aggregate and industry loss triggered basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Ariel Re secures Titania Re 2025-1 cat bond at upsized $150m
SageSure seeks $100m Gateway Re 2025-3 cat bond
SageSure seeks $100m Gateway Re 2025-3 cat bond
SageSure is looking to issue at least $100 million Gateway Re Ltd. (Series 2025-3) single-tranche zero-coupon six-month catastrophe (CAT) bonds. They will cover losses from named storms initially covering the U.S. states of Louisiana, Mississippi, South Carolina and Texas, on an indemnity, per-occurrence basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
SageSure seeks $100m Gateway Re 2025-3 cat bond
Everest secures $1bn of limit from its two Kilimanjaro Re II cat bonds
Everest secures $1bn of limit from its two Kilimanjaro Re II cat bonds
Everest Re will issue $1 billion Kilimanjaro II Re Ltd. catastrophe (CAT) four-tranche bonds split across two series differentiated only by their terms to maturity, versus the original $450 million target. The Series 2025-1 bonds will run for four-years and the Series 2025-2 bonds for five years. They will cover losses from certain named storms and earthquakes that impact the United States, Puerto Rico, U.S. Virgin Islands, D.C., and Canada, on a regionally weighted industry-loss trigger basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Everest secures $1bn of limit from its two Kilimanjaro Re II cat bonds
Convex gets 50% upsized $150m Hypatia 2025-1 cat bond, priced 17% below mid-guidance
Convex gets 50% upsized $150m Hypatia 2025-1 cat bond, priced 17% below mid-guidance
Convex Group will issue $150 million Hypatia Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds, versus the original $100 million target. They will cover losses from North American hurricanes and earthquakes on an industry loss basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Convex gets 50% upsized $150m Hypatia 2025-1 cat bond, priced 17% below mid-guidance
Convex returns with $100m+ target for third Hypatia cat bond
Convex returns with $100m+ target for third Hypatia cat bond
Convex Group is looking to issue at least $100 million Hypatia Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from North American hurricanes and earthquakes on an industry loss basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Convex returns with $100m+ target for third Hypatia cat bond
Vermont Mutual secures its largest cat bond, 25% upsized $250m Baldwin Re 2025
Vermont Mutual secures its largest cat bond, 25% upsized $250m Baldwin Re 2025
Vermont Mutual Insurance Company will issue $250 million Baldwin Re Ltd. (Series 2025-1) single-tranche four-year catastrophe (CAT) bonds, versus the original $250 million target. They will cover losses from US Northeast, named storm, earthquake, severe weather, and fire on an indemnity and per-occurrence basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Vermont Mutual secures its largest cat bond, 25% upsized $250m Baldwin Re 2025
AmTrust secures 50% upsized $150m Solis Re cat bond at low-end of guidance
AmTrust secures 50% upsized $150m Solis Re cat bond at low-end of guidance
AmTrust Financial Services will issue $150 million Solis Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds, versus the original target of $100 million. They will cover losses from named storms that impact U.S. northeast states on an indemnity and per-occurrence basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
AmTrust secures 50% upsized $150m Solis Re cat bond at low-end of guidance
Mirror Group pension scheme secures £150m buy-in with Just
Mirror Group pension scheme secures £150m buy-in with Just
The MGN Pension Scheme has secured a £150 million buy-in covering 1,300 of its pensioner members. The buy-in was provided by Just Group and completed in November. The deal has been structured to make it easier for future buy-ins to be transacted. [Source: Pensions Expert]
#Pensions#Longevity#ART
·pensions-expert.com·
Mirror Group pension scheme secures £150m buy-in with Just