Risk Transfer Report 2026

Welcome to our 2026 Risk Transfer Report, the 10th annual edition bringing together key insights and trends shaping today’s risk transfer market.

With a particularly strong pipeline, 2026 is set to be a record year for buy-ins, with volumes on track to surpass £50bn for the first time.

In this year's report, we explore:

• Bulk annuity regulation: what the PRA’s stress testing tells us about insurer resilience.
• Insurer landscape: how insurers moving away from corporate bonds is shaping pricing, and how climate policy is affecting insurers.
• Pension scheme perspectives: the importance of member experience during buy-in and buy-out transactions, opportunities for smaller schemes, and use cases for alternative risk transfer.
• Longevity risk: why longevity swaps remain a critical tool for hedging risk.

Download our 2026 Risk Transfer Report

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If you’d like to discuss anything covered in the report, please get in touch or reach out to one of our risk transfer specialists noted in the report.

This communication has been compiled by Hymans Robertson LLP® (HR) as a general information summary and is based on its understanding of events as at the date of publication, which may be subject to change. It is not to be relied upon for investment or financial decisions and is not a substitute for professional advice 
(including for legal, investment or tax advice) on specific circumstances. HR accepts no liability for errors or omissions or reliance on any statement or opinion. Where we have relied upon data provided by third parties, reasonable care has been taken to assess its accuracy however we provide no guarantee and accept no liability in respect of any errors made by any third party.