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Why US stock market pull back is justified

Global equity markets are near all-time highs, bond markets are relatively calm, and currency volatility is reasonably low. This benign state is being fuelled, at least in part, by optimism about the US economy coupled with reduced fears of an ongoing swing towards populism in Europe.
Posted on: Tuesday Mar 28

LMA issues new guidelines as IBER lapses

The European Commission is allowing the Insurance Block Exemption Regulation (IBER) to lapse on 31 March. This regulation gave the industry a safe harbour from competition law in relation to the collection of market-level data and pooling of underwriting capacity where certain criteria were met.
Posted on: Tuesday Mar 28

Cyber attack prevention for all at sea

David Thompson, Investigator at UKP&I Club’s Signum Services consultancy arm at UK P&I Club, highlights the importance of cyber security at sea
Posted on: Tuesday Mar 28

Global insured losses from disasters were $54bn in 2016

The latest sigma study from the Swiss Re Institute reveals that Global insured losses from disasters were USD 54 billion in 2016, up from USD 38 billion in the previous year.with total economic losses from natural catastrophes and man-made disasters amounting to USD 175 billion in 2016, almost twice the USD 94 billion seen in 2015, .
Posted on: Tuesday Mar 28

New mortality projections show life expectancy falling again

Willis Towers Watson says that the life expectancy assumptions used by many pension schemes are likely to fall, following updates to a model commonly used to project future mortality rates.
Posted on: Tuesday Mar 28

Emerging technologies bring emerging risks

The innovation economy is driving tremendous value in markets, but new technologies bring new risks.
Posted in: Articles
Posted on: Tuesday Mar 28

What does it take to calculate a sustainable income rate?

What is a sustainable income rate? Now, this is both straightforward to define, and also very difficult to define. It is not hard to put together a high-level definition referring to unspecified likelihoods and probabilities. For example, we might define the sustainable income rate as a level of income (potentially increasing over time) that an individual can withdraw from their assets each year, such that they have a probability, P, of not running out of money within a particular period of time, T.
Posted in: Articles
Posted on: Tuesday Mar 28

If you receive a bonus then opt to pay it into your pension

New research from Aviva has found that only around 1 in 10 (9%) people who have received a cash bonus in the past have opted to have at least part of it paid into their pension – known as bonus exchange. Over a third (39%) had instead chosen to spend it on a treat, like shopping or a holiday. By opting to take it in their pay packet, employees are paying tax and national insurance on their bonuses – a bill that can run into the hundreds or even thousands of pounds depending on the size of the bonus.
Posted on: Tuesday Mar 28

Brexit Bill passed so what now for investors?

The passing of the Brexit Bill through Parliament will enable Theresa May to formally write to the European Union and trigger Article 50 on 29 March – effectively firing the starting gun on the UK’s formal exit process and negotiations. That process has to conclude in two years’ time – unless an extension is agreed by all members.
Posted on: Tuesday Mar 28

Hymans Robertson announce new Senior Partner

Hymans Robertson has announced that John Dickson, current Chair of the Board, is to take on the role of Senior Partner at Hymans Robertson from Ronnie Bowie, as of the 1st April this year.
Posted on: Monday Mar 27

Aegon pay out more than £123m in claims

Aegon UK has today published claims data which shows a total of £123.4 million was paid in claims for life (including terminal illness), critical illness (CI) and income protection (IP), helping more than 1,300 families and businesses in 2016.
Posted in: Life - Articles
Posted on: Monday Mar 27

Group Life Insurance more important after Bereavement change

From 6 April this year, the new Bereavement Support Payment will replace the current suite of State bereavement benefits (Bereavement Payment, Bereavement Allowance and Widowed Parent’s Allowance). On the face of it, the changes appear to be beneficial, with a refocus on the additional and more immediate costs of bereavement support for the 18-month period immediately following the bereavement (rather than for 12 months), and no loss of benefit on remarriage or re-partnering. However, many families will be worse off, especially those with children where the current Widowed Parent’s Allowance is paid until such time as Child Benefit stops.
Posted on: Monday Mar 27

Willis Towers Watson complete acquisition of actuarial team

Willis Towers Watson announced the completion of its acquisition of Russell Investments’ Australian actuarial practice.
Posted on: Monday Mar 27

Scottish Widows Bulk Annuity Market Update

Scottish Widows implemented four pensioner buy-ins in 2016, its first full calendar year in the market, insuring the benefits of more than 10,000 pension scheme members, with total premiums of around £1.5 billion.
Posted on: Monday Mar 27

Mothers missing out on millions in pension rights

According to new analysis by Royal London, on figures published by HM Revenue and Customs, reveal a doubling in the number of mothers missing out unnecessarily on vital pension rights because of a change in the rules on child benefit, Together, these mothers have lost hundreds of millions of pounds in retirement.
Posted on: Monday Mar 27

TPR clarifies description of a professional trustee

The Pensions Regulator (TPR) has clarified its expectations by publishing a revised description of a professional trustee for consultation. TPR’s initiative seeks to raise standards of governance and administration to protect member benefits by being clearer about what it expects trustees to do, and being swifter to take action where standards are not met.
Posted on: Friday Mar 24

Aon Hewitt announces first unwinding of a longevity swap

Aon Hewitt has announced that it has completed the first unwinding of a longevity swap. In December 2016, the PGL Pension Scheme agreed to transform the insurance terms of the swap, replacing it with a £1.2bn annuity with Phoenix Life, which added to the risk transferred from the scheme.
Posted on: Friday Mar 24

Trustees concerned over cost transpaency

The Financial Conduct Authority Asset Management Market Study interim report, published in November 2016, urged asset managers to be clear about their fee structures.
Posted on: Friday Mar 24

Life expectancy is falling as State Pension age set to rise

Stuart Price a Partner at Quantum Advisory reveals that life expectancy is falling just as Government plan to raise the State Pension age
Posted on: Friday Mar 24

PPF outline plans on developing the Pension Protection Levy

The Pension Protection Fund (PPF) has today (Thursday) launched a consultation outlining how it intends to develop the Pension Protection Levy for the next three year period, or triennium, starting in 2018/19. The consultation involves a detailed set of proposals together with supporting roadshows and webinars.
Posted on: Friday Mar 24

Goddard Perry apointed to provide actuarial admin services

The trustees of the Smith & Williamson pension scheme have appointed Goddard Perry for actuarial and third-party administration services.
Posted on: Thursday Mar 23

Allianz set to cover insurance claims on electronic devices

Allianz Global Assistance UK has confirmed that it will cover UK customer travel insurance claims made because of loss of, or damage to, electronic devices checked in with hold baggage by passengers flying to the UK from Turkey, Lebanon, Jordan, Egypt, Tunisia and Saudi Arabia. This follows an announcement from government that there will be imminent changes to aviation security measures for selected inbound flights from these countries, resulting in the restrictions to devices taken on board.
Posted on: Thursday Mar 23

Knowing me, knowing EU. A Brexit update

Having told the UK that ‘Brexit means Brexit’, Theresa May is now set to trigger Article 50 on 29th March. While the economy has shown resilience beyond what was expected by most forecasters, huge uncertainty still looms on the horizon. In a Brexit update Legal & General Investment Management (LGIM)’s European Economist Hetal Mehta addresses:
Posted on: Thursday Mar 23

Additional industry comment on Cridland Pension Age Review

Additional industry commentary the Cridland State Pension Age Review from Barnett Waddingham, Retirement Advantage, NOW: Pensions and Aviva
Posted on: Thursday Mar 23

How Gig economy workers can enrol for a workplace pension

In a response to the DWP’s Review of Auto Enrolment – initial questions consultation, the Association of Consulting Actuaries (ACA) has outlined a way in which more Gig economy workers might be enrolled into workplace pensions. The response also calls for greater flexibility in the way AE contribution rates are applied, ahead of a longer-term plan to increase minimum contributions.
Posted on: Thursday Mar 23

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