Date/Time
Date(s) - 27/02/2024
12:00 pm - 1:00 pm

Categories

• Talks

The Bristol Actuarial Society is excited to organise the first talk of 2024, UK Bulk Annuity Market: Bigger, Stronger, Faster, Harder.

This is a virtual event and details are as follows:

Title: UK Bulk Annuity Market: Bigger, Stronger, Faster, Harder

Date: 27 February 2024

Time: 1200-1300

Description:

The UK bulk annuity market has grown vastly over the last few years, especially in the face of increases in interest rates over 2022. This session will give an overview of the market in the current economic environment, alongside the challenges faced.

Bigger: The UK bulk annuity market has grown beyond recognition since the 2016 advent of Solvency II. The speakers will cover a brief history of the market.

Stronger: Insurers’ balance sheets have become stronger, bolstered by experience over 2022, increasing firms’ abilities to deploy excess capital. So, who’s doing what in the market?

Faster: 2022 helped improve funding positions for several pension schemes, accelerating de-risking plans and leading to unprecedented demand for bulk annuities. What’s the reality, and who might be a ‘mega’ candidate?

Harder: Increasing the size of deals presents new challenges for premium deployment, hedging (at the limits of market liquidity), and liquidity risk management. The speakers will explore how these ‘diseconomies of scale’ present.

Capital availability, difficulties for new entrants to the market, and ‘problem’ assets in pension schemes all present headwinds, in addition to constraints on ‘human’ capital. The presentation will look at how firms and schemes have coped in the face of these challenges.

Speakers: Andrew Kenyon and Suanne Chong, NatWest Markets

How to register:

See registration form below

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