Fears of runaway risk on offshore reinsurance
Life insurers catch the eye of UK regulator for pension buyout financing trick
UK life insurers think they have found a neat solution for a capacity problem that threatened to slow the booming pensions buyout market. Regulators, though, don’t much like what they see.
Around £50 billion ($63 billion) of pension liabilities were transferred from schemes to insurers last year. And to free up capital to do more of these deals, insurers have been turning to a relatively novel tool: funded reinsurance.
Funded reinsurance allows insurers to pass on the investment and longevity
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