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Higher Education Pension Scheme Completes £12m Buy-in with Just Group (PensionsAge)
Higher Education Pension Scheme Completes £12m Buy-in with Just Group (PensionsAge)
A U.K.-based arts-based higher education pension scheme has completed a £12 million buy-in transaction with Just Group, securing benefits for 155 pensioners and deferred members. While initially appearing straightforward, the deal involved significant pension benefit complexities that required detailed preparation and close collaboration between the trustees (Capital Cranfield), advisers (First Actuarial, Arc Pensions Law, WBR Group, and Isio), and the insurer. [PensionsAge]
#Pensions#UnitedKingdom#Longevity#ART
·pensionsage.com·
Higher Education Pension Scheme Completes £12m Buy-in with Just Group (PensionsAge)
TFS Planning to Enter into Pension Buyout (TFS)
TFS Planning to Enter into Pension Buyout (TFS)
U.S.-based TFS Financial Corporation has terminated its defined benefit pension plan. The company expects to settle its benefit obligations through lump-sum distributions to participants and the subsequent purchase of annuity contracts from a third party within nine to twelve months of the plan's termination. However, the finalization of this plan remains subject to conditions such as regulatory review, and the company maintains the authority to modify the termination date or revoke the decision entirely. [TFS]
#ART#UnitedStates#Longevity#Pensions
·d18rn0p25nwr6d.cloudfront.net·
TFS Planning to Enter into Pension Buyout (TFS)
Trane Enters Into Partial Pension Buyout (Trane)
Trane Enters Into Partial Pension Buyout (Trane)
In December 2025, Trane Technologies entered into a group annuity contract for a portion of its U.S. qualified defined benefit pension plan, effectively transferring benefit payment responsibilities and approximately $187.6 million of its projected benefit obligation to an insurance company. This transaction resulted in a pre-tax non-cash settlement charge of $35.1 million. The company manages its remaining defined benefit plan assets with a dynamic asset allocation strategy that increases fixed income holdings as a plan's funded status improves, aiming to match asset characteristics with liabilities and ensure all present and future obligations are met as they come due. As of December 31, 2025, the company reported a net unfunded pension liability of $194.6 million. [Trane]
#ART#Pensions#Longevity#UnitedStates
·d18rn0p25nwr6d.cloudfront.net·
Trane Enters Into Partial Pension Buyout (Trane)
Canadian Pension Risk Transfer Market declines 40% in 2025 (Benefits Canada)
Canadian Pension Risk Transfer Market declines 40% in 2025 (Benefits Canada)
The Canadian pension risk transfer market declined approximately 40% in 2025, with transaction volumes reaching $6.9 billion compared to $11 billion in 2024, according to a Normandin Beaudry report. The slowdown was attributed to economic uncertainty and market volatility, though activity picked up significantly in the second half of the year after a quiet start. Despite the decline, the market remained competitive with some insurers offering attractive rates exceeding 5% for annuity purchases, particularly for inflation-indexed transactions, allowing plan sponsors to transfer investment and longevity risks while maintaining favorable accounting treatment. https://www.normandin-beaudry.ca/en/nb-bulletins/group-annuity-buy-outs-in-canada-in-2025-managing-risks-and-seizing-opportunities/ [Benefits Canada]
#Canada#Pensions#Longevity#ART
·benefitscanada.com·
Canadian Pension Risk Transfer Market declines 40% in 2025 (Benefits Canada)
SafePoint secures upsized $250m Nature Coast Re 2026-1 cat bond (Artemis.bm)
SafePoint secures upsized $250m Nature Coast Re 2026-1 cat bond (Artemis.bm)
SafePoint Insurance Company will issue $150 million Nature Coast Re Ltd. (Series 2026-1) single-tranche four-year catastrophe (CAT) bonds, versus the original $150 million target. They will cover losses from named storms across the states of Florida, Louisiana, Alabama, Mississippi, and Texas on an indemnity and per-occurrence trigger basison. [Artemis.bm]
#CAT#ILS#ART#UnitedStates
·artemis.bm·
SafePoint secures upsized $250m Nature Coast Re 2026-1 cat bond (Artemis.bm)
Cosmetics company insures DB scheme with M&G in £235m deal (Pensions Expert)
Cosmetics company insures DB scheme with M&G in £235m deal (Pensions Expert)
Avon Cosmetics has completed a £235 million buy-in deal with M&G to secure its defined benefit pension scheme, covering benefits for over 3,000 members of the Avon Cosmetics Pension Plan. The transaction includes support for a complex benefit structure while preserving all member options. [Pensions Expert]
#ART#Pensions#Longevity#UnitedKingdom
·pensions-expert.com·
Cosmetics company insures DB scheme with M&G in £235m deal (Pensions Expert)
LGT ILS Partners reinsurer Lumen Re to sponsor $125m Photon Re 2026-1 catastrophe bond (Artemis.bm)
LGT ILS Partners reinsurer Lumen Re to sponsor $125m Photon Re 2026-1 catastrophe bond (Artemis.bm)
Lumen Re is looking to issue at least $125 million Photon Re Ltd. (Series 2026-1) two-tranche four-year catastrophe (CAT) bonds. They will cover losses from named storms and earthquakes across the US and Canada on industry loss index and annual aggregate basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
LGT ILS Partners reinsurer Lumen Re to sponsor $125m Photon Re 2026-1 catastrophe bond (Artemis.bm)
Plymouth Rock sponsoring debut catastrophe bond, $100m Tremont Re 2026-1 (Artemis.bm)
Plymouth Rock sponsoring debut catastrophe bond, $100m Tremont Re 2026-1 (Artemis.bm)
Plymouth Rock is looking to issue at least $100 million Tremont Re Ltd. (Series 2026-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storms affecting Massachusetts and Connecticut on indemnity and per-occurrence basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Plymouth Rock sponsoring debut catastrophe bond, $100m Tremont Re 2026-1 (Artemis.bm)
Standard Life targets full buyout in four months for £700m (Pensions Expert)
Standard Life targets full buyout in four months for £700m (Pensions Expert)
Deloitte has completed a £700 million buy-in of its defined benefit pension scheme with Standard Life, covering all pensioners and deferred members, with an ambitious target to achieve full buyout by April 2026. The deal includes Standard Life taking on the complex task of GMP (guaranteed minimum pension) equalization, removing a key operational barrier to the tight timeline. [Source: Pensions Expert]
#Pensions#United Kingdom#ART#Longevity#UnitedKingdom
·pensions-expert.com·
Standard Life targets full buyout in four months for £700m (Pensions Expert)
Construction assessment company insures DB scheme with Aviva (Pensions Expert)
Construction assessment company insures DB scheme with Aviva (Pensions Expert)
The British Board of Agrément (BBA) has secured a £20 million buy-in deal with Aviva for its defined benefit pension scheme, covering all 121 members (39 deferred and 82 pensioners). The transaction involved complex considerations including an ongoing salary link for some members and non-standard pension increases, but favorable market conditions, employer contributions, and careful planning enabled the deal to proceed much earlier than anticipated. Aviva and Broadstone (an advisor on the transaction) are now working on a data cleanse ahead of a full buyout for the scheme. [Source: Pensions Expert]
#Pensions#UnitedKingdom#Longevity#ART
·pensions-expert.com·
Construction assessment company insures DB scheme with Aviva (Pensions Expert)
Maritime company anchors DB scheme with £55m buy-in (Pensions Expert)
Maritime company anchors DB scheme with £55m buy-in (Pensions Expert)
Pension Insurance Corporation (PIC) has completed a £55 million buy-in transaction with the Bibby Line Group Ltd Pension Scheme, securing benefits for 667 members. The transaction proceeded quickly due to prior data cleansing work, with the scheme's trustee praising PIC's speed, customer service focus, and flexible approach. [Source: Pensions Expert]
#ART#Longevity#Pensions#UnitedKingdom
·pensions-expert.com·
Maritime company anchors DB scheme with £55m buy-in (Pensions Expert)
Harwich Haven Authority Pension Fund finalises £45m buy-in with Royal London (PensionsAge)
Harwich Haven Authority Pension Fund finalises £45m buy-in with Royal London (PensionsAge)
The Harwich Haven Authority Pension Fund completed a £45 million full buy-in with Royal London in November 2025, securing benefits for 170 members including 125 pensioners and dependants and 45 deferred members. The Essex-based fund worked with LCP as its risk transfer adviser, who facilitated the transaction through their streamlined buy-in service designed for smaller schemes. [Source: PensionsAge]
#Pensions#UnitedKingdom#Longevity#ART
·pensionsage.com·
Harwich Haven Authority Pension Fund finalises £45m buy-in with Royal London (PensionsAge)
SageSure looking to issue $175m Gateway Re 2026-2 cat bond (Artemis.bm)
SageSure looking to issue $175m Gateway Re 2026-2 cat bond (Artemis.bm)
SageSure is looking to issue at least $175 million Gateway Re Ltd. (Series 2026-2) two-tranche three-year catastrophe (CAT) bonds. They will cover losses from U.S. named storm, earthquake, severe thunderstorm, winter storm, and wildfire across Florida, Louisiana, Mississippi, New York, South Carolina, and Texas on indemnity and per-occurrence basis. [Source: Artemis.bm]
#CAT#ILS#ART#UnitedStates
·artemis.bm·
SageSure looking to issue $175m Gateway Re 2026-2 cat bond (Artemis.bm)
Swiss Re issues upsized $150m Matterhorn Re 2026-1 cat bond (Artemis.bm)
Swiss Re issues upsized $150m Matterhorn Re 2026-1 cat bond (Artemis.bm)
Swiss Re will issue $150 million Matterhorn Re Ltd. (Series 2026-1) three-tranche three-year catastrophe (CAT) bonds, versus the original $125 million target. They will cover losses from US and Canadian named storms and earthquakes, although with differences to the coverage areas and structures. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Swiss Re issues upsized $150m Matterhorn Re 2026-1 cat bond (Artemis.bm)
SageSure to issue $670m Gateway Re cat bonds (Artemis.bm)
SageSure to issue $670m Gateway Re cat bonds (Artemis.bm)
SageSure will issue $670 million Gateway Re Ltd. (Series 2026-1) five-tranche three-year catastrophe (CAT) bonds, versus the original $765 million target. All of the tranches will cover losses from named storms in the states of Alabama, Florida, Louisiana, Mississippi, New York, North Carolina, South Carolina, and Texas, but three also cover California. Furthermore, two of the tranches also cover earthquakes, severe thunderstorms, winter storms and wildfires, in addition to named storms. All tranches provide coverage on an indemnity per-occurrence basis, although a section of one of them provides aggregate third-event coverage. [Source: Artemis.bm]
#CAT#ILS#ART#UnitedStates
·artemis.bm·
SageSure to issue $670m Gateway Re cat bonds (Artemis.bm)
Slide targets $250m Purple Re 2026-1 cat bond (Artemis.bm)
Slide targets $250m Purple Re 2026-1 cat bond (Artemis.bm)
Slide Insurance Company is looking to issue at least $250 million Purple Re Ltd. (Series 2026-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storm across the states of Florida, South Carolina, Rhode Island, New Jersey and New York on an indemnity and per-occurrence basis. [Source: Artemis.bm]
#ART#ILS#CAT#UnitedStates
·artemis.bm·
Slide targets $250m Purple Re 2026-1 cat bond (Artemis.bm)
Veterans’ charity secures pension scheme in £16m buy-in (Pensions Expert)
Veterans’ charity secures pension scheme in £16m buy-in (Pensions Expert)
Just Group has completed a £16 million buy-in transaction for the defined benefit pension scheme of Royal Star & Garter, a military veterans' charity that operates care homes for veterans with disabilities or dementia. The deal, finalized in November, secures the benefits of 186 pensioners and 65 deferred members. The transaction utilized streamlined buy-in processes that allowed the scheme to obtain multiple insurer quotes. [Source: Pensions Expert]
#ART#Longevity#Pensions#UnitedKingdom
·pensions-expert.com·
Veterans’ charity secures pension scheme in £16m buy-in (Pensions Expert)
American Integrity targets $175m+ Integrity Re III 2026-1 cat bond (Artemis.bm)
American Integrity targets $175m+ Integrity Re III 2026-1 cat bond (Artemis.bm)
American Integrity Insurance Company is looking to issue at least $175 million Integrity Re III Ltd. (Series 2026-1) four-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storms across the states of Florida, Georgia, North Carolina and South Carolina, on an indemnity trigger and per-occurrence basis. In addition, there is an element of coverage for watercraft policy losses in the Bahamas. [Source: Artemis.bm]
#CAT#ILS#ART#UnitedStates
·artemis.bm·
American Integrity targets $175m+ Integrity Re III 2026-1 cat bond (Artemis.bm)
Hymans Robertson's 2026 U.K. Risk Transfer Report (Hymans Robertson)
Hymans Robertson's 2026 U.K. Risk Transfer Report (Hymans Robertson)
According to Hymans Robertson 2025 total risk transfer volume was just under £58 billion (£39 billion of buy-ins and buy-outs + £19 billion longevity swaps), just shy of 2023's record high £59 billion (£49 billion buy-ins + £10 billion). Nearly 140 buy-ins under £100 million were completed—the second-highest count ever—demonstrating how streamlined processes from both established and newer insurers (Royal London, Utmost, and Blumont's market entry) successfully expanded access for smaller schemes. Insurer pricing remained attractive throughout 2025 despite credit spreads approaching historic lows, largely because insurers pivoted toward gilt-based investment strategies that capitalized on unprecedented gilt-swap spreads at longer durations driven by fiscal uncertainty and supply/demand dynamics. Major transactions included £4.6 billion Ford Motor Company (Legal & General (L&G)), £4.3 billion Rolls-Royce (Pension Insurance Corporation (PIC)), and £1.9 billion MMC UK Sedgewick Section (Standard Life). The Prudential Regulation Authority (PRA) conducted its first bulk annuity-focused stress tests, with results demonstrating sector resilience—all insurers retained capital above regulatory requirements under severe scenarios including exploratory stresses on asset concentration and funded reinsurance. Member experience emerged as a critical differentiator in insurer selection as schemes increasingly pursued whole-scheme buy-ins rather than pensioner-only transactions. Alternative risk transfer gained credibility with Clara's "connected covenant" transaction for Church Mission Society, showing superfunds can serve well-funded schemes with strong sponsors. Market consolidation accelerated with announced acquisitions of PIC by Athora and Just by Brookfield Wealth Solutions, alongside L&G's partnership with Blackstone, signaling increased global interest in UK bulk annuities. [Source: Hymans Robertson]
#ART#Longevity#Pensions#UnitedKingdom
·hymans.co.uk·
Hymans Robertson's 2026 U.K. Risk Transfer Report (Hymans Robertson)
Lockheed Martin transfers $943 million in new pension buyout (Lockheed Martin)
Lockheed Martin transfers $943 million in new pension buyout (Lockheed Martin)
U.S.-based Lockheed Martin purchased group annuity contracts from an undisclosed number of insurance companies to transfer $943 million in pension plan liabilities and related plan assets, requiring recognition of a noncash, non-operating pretax settlement charge in earnings of $479 million. The company indicates it expects to continue evaluating such transactions in the future, though it notes that depending on their size, future transactions could require additional contributions to the pension trust and/or result in noncash settlement charges that would be recognized in earnings in the applicable reporting period. [Source: Lockheed Martin 10-K]
#Pensions#ART#UnitedStates#Longevity
·investors.lockheedmartin.com·
Lockheed Martin transfers $943 million in new pension buyout (Lockheed Martin)
Weyerhaeuser announces new pension risk transfer (Weyerhaeuser)
Weyerhaeuser announces new pension risk transfer (Weyerhaeuser)
U.S.-based Weyerhaeuser purchased a group annuity contract from an insurance company to transfer $455 million in U.S. pension plan liabilities. The contract purchase was funded from $440 million of U.S. pension plan assets. As a result of the transaction, fourth quarter special items include a non-cash after-tax settlement charge of $111 million. In conjunction with the transaction, the company made a $200 million voluntary cash contribution to the plan. This transaction is the latest in a series of actions taken to reduce the company’s pension plan obligations. Since beginning these efforts in 2018, Weyerhaeuser’s pension obligations have decreased from $6.8 billion to $1.9 billion as of December 31, 2025. [Source: Weyerhaeuser 8-K]
#UnitedStates#ART#Longevity#Pensions
·app.quotemedia.com·
Weyerhaeuser announces new pension risk transfer (Weyerhaeuser)
Charter Communications completes $1.3 billion buyout transaction (Charter)
Charter Communications completes $1.3 billion buyout transaction (Charter)

U.S.-based Charter Communications an existing group annuity contract into a $1.3 billion pension buyout transaction to complete the termination of its U.S. pension plan. In 2023, the Company announced plans to fully terminate the qualified pension plan and purchased a buy-in group annuity contract (“GAC”) from a highly rated insurer. In 2025, pension obligations were distributed through lump sum payments to eligible participants who elected such payments. In December 2025, the buy-in GAC was converted to a buyout with the remaining settlement obligation of $1.3 billion transferred to the insurer. The settlement of the qualified pension plan resulted in excess plan assets of approximately $131 million which were used as a qualified retirement plan transfer to the Company’s defined contribution benefit plans. The remaining $17 million projected benefit obligation as of December 31, 2025 is related to the Company’s unfunded unqualified pension plan. [Source: Charter Communications 10-K]

#ART#Longevity#Pensions#UnitedStates
·ir.charter.com·
Charter Communications completes $1.3 billion buyout transaction (Charter)
MGIC secures $323.5m Home Re 2026-1 mortgage ILS protection (Artemis.bm)
MGIC secures $323.5m Home Re 2026-1 mortgage ILS protection (Artemis.bm)
MGIC Investment Corporation issued $323.5 million Home Re 2026-1 Ltd. five-tranche ten-year catastrophe (CAT) bond-style mortgage insurance-linked securities. They will cover losses the ceding insurer pays to settle claims on the underlying mortgage insurance policies. [Source: Artemis.bm]
#ILS#Mortgage#CAT#ART
·artemis.bm·
MGIC secures $323.5m Home Re 2026-1 mortgage ILS protection (Artemis.bm)
Integral ILS secures upsized $275m of retro with debut Windrose Re cat bond (Artemis.bm)
Integral ILS secures upsized $275m of retro with debut Windrose Re cat bond (Artemis.bm)
Integral ILS Ltd. will issue $275 million Windrose Re Ltd. (Series 2026-1) three-tranche three-year catastrophe (CAT) bonds, versus the original $200 million target. They will cover industry losses from named storms across US northeast states, on a state-weighted industry-loss index triggered per occurrence basis. [Source: Artemis.bm]
#CAT#ILS#ART#UnitedStates
·artemis.bm·
Integral ILS secures upsized $275m of retro with debut Windrose Re cat bond (Artemis.bm)
Finnair lands buyout deal for DB scheme in record time (Pensions Expert)
Finnair lands buyout deal for DB scheme in record time (Pensions Expert)
Finnair has secured a £4 million bulk annuity with Aviva for its UK defined benefit pension scheme, covering all 20 members of the Finnair Oyj Retirement Benefit Scheme. The transaction, completed in October as a buy-in and converted to a buyout in under two months, represents the fastest such conversion completed by broker Broadstone. The deal utilized Aviva's Clarity service for small schemes, with success attributed to excellent data quality, thorough preparation, and the streamlined processes designed for smaller pension schemes—a growing trend in the bulk annuity market where sub-£100m transactions now account for over 85% of all deals.
#Pensions#UnitedKingdom#Longevity#ART
·pensions-expert.com·
Finnair lands buyout deal for DB scheme in record time (Pensions Expert)