January 30, 2020 / 10:10 AM / a month ago

UK bulk annuities market hits record $55 bln in 2019

LONDON, Jan 30 (Reuters) - The UK bulk annuity market for insuring company defined benefit, or final salary, pension schemes totalled a record 42 billion pounds ($55.2 billion) in 2019, consultant Hymans Robertson said on Thursday.

The total, nearly double 2018 volumes, included seven multi-billion pound mega-deals, Hymans said in a report, as companies increasingly offload their pension schemes to an insurer to take risk off their balance sheets.

Insurers such as Legal & General and Aviva are active in this market.

$1 = 0.7608 pounds Reporting By Carolyn Cohn, editing by Sinead Cruise

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below