Navigating a changed bulk annuity market

There has been a step change in the de-risking market with buy-ins and buy-outs on track to hit record volumes of £45bn-£60bn this year and as many as 15 £1bn+ transactions in 2023. We estimate that around 1,000 schemes (almost 1 in 5) are already fully funded on buy-out and foresee no let-up in activity.

In our latest de-risking update, read our analysis of market data and trends as we approach the half year point for 2023. Explore the dynamics of insurer pricing, the key structural features in the market such as residual risks cover, and why we remain positive about the direction of the market for schemes large and small. Also discover case studies of LCP projects over the last 12 months, including the largest transactions of all time: RSA’s record £6.5bn full buy-in transaction in February and British Steel Pension Scheme’s £7.5bn full insurance programme through a strategic partnership which completed in May.

What’s inside?

• Key changes in market dynamics for large and small schemes
• Insurer pricing – key drivers and future expectations
• Residual risks cover – what it is and what schemes should consider

We hope you enjoy this snapshot of market activity. If you have any questions or would like to discuss the topics raised in more detail, please get in touch or speak to any of our experts in LCP’s longevity de-risking practice.