Publication

Solvency triggered termination rights summary

calendar icon 08 July 2025
time icon 5 min

Authors

Michael Abramson
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Michael Abramson

Partner and Risk Transfer Specialist

Lara Desay
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Lara Desay

Partner and Head of Risk Transfer Solutions

1386X1000 0079 Catherine Thain
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Catherine Thain

Senior Actuarial Consultant

On 4 July 2025, the PRA issued a Dear CRO letter to bulk annuity insurers outlining the results of its thematic review of Solvency Triggered Termination Rights (STTRs).  

In this newsflash, our experts explore:

  • The outcomes of the PRA’s review of STTRs;
  • Its view of the potential risks involved and how insurers are mitigating these; and
  • How it will impact pension schemes looking to enter into a buy-in or buy-out.

Read our summary

If you have any questions or would like to discuss further, please get in touch

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.

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