• Jump to main content
  • Jump to main navigation
  • About us
  • Careers
  • Media Centre
  • Contact
  • The Brain
Hymans Robertson
  • Pensions
    • Back to Main Menu
    • Defined Benefit Consulting
      • DB Actuarial
      • DB Investment
      • DB Pensions Administration
      • DB Risk Transfer
      • DB Member Choice – At retirement
      • DB Governance
      • DB Consolidation
      • DB Wind-up
      • Project Planning and Management
      • Fiduciary Oversight
      • Responsible Investment
    • Defined Contribution Consulting
      • DC Pension Strategy
      • DC Scheme Structure
      • DC Investment
      • DC Engagement
      • DC Member Choice - At-retirement
      • DC Governance
      • Guided Outcomes
      • DC Master Trusts
      • Benefits and Rewards Strategy
      • Project Planning and Management
      • Responsible Investment
      • Communications
    • Public Sector Consulting
      • LGPS Actuarial
      • LGPS Investment
      • LGPS Governance, Administration and Projects
      • LGPS Employers
      • Ill Health Liability Insurance
      • Responsible Investment
  • Financial Services
    • Back to Main Menu
    • Insurance
      • Longevity Management
      • Product Development
      • Risk and Capital Management
      • Investment and ALM
      • Insurance Company Regulation
      • Independent Actuarial Review Services
      • Project Planning and Management
    • Retail Advisory
      • Tailored Portfolio Service
    • Pension Providers
      • Digital Tools and APIs
      • Competitive Benchmarking
      • Proposition development
      • Operational Support
    • Digital Tools and APIs
      • GO™ For Investment Pathways
      • Economic Scenario Service
      • API Catalogue
  • Digital & Innovation
    • Back to Main Menu
    • Digital & Innovation
      • API Catalogue
      • Economic Scenario Service
      • Digital Products
    • Economic Scenario Service
      Explore the consequences of today's business decisions
    • Digital and Innovation
      Helping our clients build better financial futures
  • Insights
    • Back to Main Menu
    • See all Insights
      • Webinars
      • Podcasts
      • Research and Publications
      • Blogs
      • Case studies
      • Events
    • Webinars
      Visit our webinar hub
    • All Insights
      See all our latest Insights
  • Team
  • About us
  • Careers
  • Media Centre
  • Contact
  • The Brain
  • Search

Our website uses cookies (what’s this?). These cookies allow us to distinguish you from other users of our website, which helps us improve our website and to deliver many of the functions that make your browser experience more user-friendly. Some of the cookies that we use are essential for parts of the website to operate. By using this website you agree to our use of cookies. To find out more, including how to opt out, please read our Cookies Policy.

OK

Publication

Your annual overview and analysis of the risk transfer market

Risk Transfer Report 2020

30 Jan 2020

James Mullins

by James Mullins
Head of risk transfer solutions

Subject: Defined benefit pensions, Insurance & Reinsurance, Longevity & Health, Risk management & de-risking

Audiences: Employers, Insurance & Financial Services, Trustees

This page features our 2020 Risk Transfer Report. To read the 2021 Risk Transfer Report click here.

2019 marked another record-breaking year in the pension risk transfer market, with both volumes and transaction sizes continuing to grow. The total value of transactions completed surpassed the £40 billion mark - nearly doubling 2018’s record.

In our fourth annual report we track the recent key changes in the pension risk transfer market, with a particular focus on bulk annuities, and look at what these could mean for your defined benefit (DB) pensions scheme. We focus on five key areas:

  1. Bulk annuity insurers overview: an update on changing market dynamics. 
  2. The trustee perspective: how to prepare as you move along your journey plan. 
  3. Regulatory update: what’s new and what this means for you. 
  4. Longevity risk update: the latest trends and approaches to managing longevity risk.
  5. Pension scheme demand for insuring deferred members: ways to accelerate your journey plan.

We also share insights of each insurer in this market - almost all of which have had another record-breaking year in terms of buy-in/buy-out transaction volumes.

Despite this, excellent pricing opportunities are still available for pensions schemes which is causing a continued growth in demand. As a result, some insurers are having to turn some pension schemes away. So, schemes now need to be well prepared before approaching the busy market if they want to get on the front foot. But this alone might not be enough. Pension schemes will have to have a clear broking strategy, and a good understanding of how insurance companies think and operate, to stand out from the crowd and become more attractive to insurers.

Want to know more?

Episode 2 of our podcast focused on the pensions risk transfer market. James Mullins and Michael Abramson discuss the process insurers go through when asked to quote for a transaction. To find other ways to listen or to subscribe to our podcast visit our podcast hub.

How can we help?

Visit our Risk Transfer page and find out how our market-leading team can help you reach your pension scheme’s long term goal and ensure your members’ benefits aren’t left to chance.

Risk Transfer Report 2020

Download

Subscribe to our news and insights

Related content

Buy-in monitoring service - January 2020

Publications 03 Feb 2020

The key to success in securing one of the largest buy-ins

Case studies 13 Jan 2020

Buy-in monitoring service - September 2019

Publications 05 Sep 2019

Buy-outs, buy-ins and longevity hedging - H1 2019

Publications 04 Sep 2019

0 comments on this post

Comment

  • Share this via Twitter
  • Share this via Linkedin
  • Share this via Email
Related content
Close related articles

Buy-in monitoring service - January 2020

Publications

The key to success in securing one of the largest buy-ins

Case studies

Buy-in monitoring service - September 2019

Publications

Buy-outs, buy-ins and longevity hedging - H1 2019

Publications

Subscribe to our news and insights

Menu

About

    • About us
    • Careers
    • CSR
    • Award-winning advice
    • Abelica Global
    • Diversity & Inclusion

Legal

  • Accessibility
  • Modern Slavery Act Transparency Statement
  • Trust centre
  • Privacy notice
  • Terms of use

Resources

  • Brexit
  • Conflicts of Interest
  • Coronavirus (COVID-19)
  • Responsible Investment
  • Gender Pay Gap
  • Sitemap

Contact

  • Our offices
  • Get in touch
    • Visit us on Vimeo
    • Visit us on Linkedin
    • Visit us on Twitter
Hymans Robertson

Copyright © 2021 Hymans Robertson LLP. All rights reserved.