Aviva has completed a £100 million bulk purchase annuity transaction with the Iveco Limited Pension Scheme, securing the benefits of all 225 deferred and 1,127 pensioner members. The transaction, which completed in March 2026, represents a significant milestone in the Scheme’s long-term de-risking strategy and provides members with increased security and long-term certainty for their pensions.
Recent geopolitical events have had wide ranging economic impacts, including for defined benefit (DB) pension schemes, with many trustees navigating a period of significant uncertainty about how much their employer covenant will be impacted. However, at the same time they are being asked to reach increasingly firm views on key aspects of their covenant for the new DB funding regime. So how can trustees decide how reliable their covenant is when so much is uncertain?
The market capitalization of the world’s 25 largest insurers is fracturing along regional lines as US managed-care giants lose $226 billion in value while Asian and European insurers gain ground, signalling a structural repricing of healthcare and life insurance risk in Q1 2026.
The Aon UK DC Pension Tracker rose over the final quarter of 2025, with all savers expected to see an increase in their expected future living standard in retirement. Despite another volatile year both geopolitically and in investment markets, DC savings have held up well with expected member outcomes increasing over the year even when allowing for the increase in the Retirement Living Standards
Stock markets bounce on Middle East ceasefire. Oil posts double-digit drop on hopes the Strait re-opens. Interest rate expectations react to potential resolution. UK house prices post slowest gain in 3 months
Electronic pension transfers reached a record 1.7 million in 2025, up 70% in three years, and with the Pensions Dashboards Programme expected to drive a surge in consolidation requests, pressure on the system is set to intensify.
LCP has been appointed as Scheme Actuaries to the four BAE Systems UK defined benefit (DB) pension schemes: the BAE Systems Pension Scheme, the BAE Systems Executive Pension Scheme, the Royal Ordnance Pension Scheme and the Royal Ordnance Senior Staff Pension Scheme.
More than 70% of respondents use actuarial analysis for underwriting performance reviews and pricing adequacyClaims development and trend analysis is used by more than two thirds of MGAsThe average MGA uses actuarial expertise across five different functional areas
I started my actuarial career in South Africa in the early 1990s, a time of change in both politics and pensions. 1994 heralded the first democratic elections in South Africa’s history but it also took place at a time when the defined benefit (DB) pensions landscape was undergoing a profound transition. Final salary schemes were closing at pace, and employers were transferring liabilities to insurance companies. Defined contribution (DC) pensions were on the rise, and with them, came a steady shift of risk away from employers and towards individual members.
Global markets prepare for potential volatility. US markets in wait-and-see mode. Broadcom announces expanded partnerships. Oil creeps higher, hovering at levels not seen since 2022
FTSE 100 opens lower following falls for indices in Asia. Trump’s prime-time speech dashed hopes for a faster resolution of the Iran conflict. Energy prices march back higher amid worries about supplies from the Gulf. Cleaning products manufacturer McBride warns of shortages due to the conflict.UK government borrowing costs head higher, making significant government help for energy bills unlikely. Drivers set for more expensive journeys for the great Easter getaway given hikes in diesel and petrol prices.
Broadstone and Lumera comment on new data from the ONS’ Financial Survey of Pension Schemes highlights how the UK Defined Contribution (DC) pensions system is becoming increasingly fragmented as job mobility leads to more deferred pension pots, even as overall contribution levels continue to rise. The figures show membership of deferred private sector DC pensions has now reached 23.04 million as of Q3 2025, up by over 2 million compared to the same period in 2024. Over the same period, membership of active pots saw has only risen by 0.15 million, increasing from 11.45 million to 11.60 million.
DB pension schemes could risk poorer member outcomes and engagement if they fail to offer a high-quality member experience as they approach endgame, warns Hymans Robertson.
The Hong Kong (China SAR) property insurance industry is projected to grow at a compound annual growth rate (CAGR) of 7.5%, increasing from HKD7.0 billion ($894.3 million) in 2026 to HKD9.3 billion ($1.2 billion) by 2030, in terms of direct written premium (DWP), according to GlobalData, a leading intelligence and productivity platform.
New research shows one in seven (14%) people just below State Pension age have gone without food, clothing or heating in the last year, compared to one in twenty (5%) above State Pension age, aged 66 to 69. With the start of the rise in the State Pension age less than a week away, many will struggle financially with the change. Standard Life Centre for the Future of Retirement says extra support is needed for over 60s least able to weather these changes, including lower earners, those with health conditions or disabilities, and carers
Life insurance is approaching a major transformation cycle. For decades, the sector has operated on highly stable, transaction-intensive platforms. Many of those systems are now reaching end of life. The engineers who built them have retired. The languages they were written in are increasingly rare. Maintenance costs are rising. Regulatory risk is growing and replacement is no longer optional. The question is not whether to modernise. It is how.
The Hymans Robertson Foundation has appointed Paul Waters as its new Chair. Paul is Head of DC Markets at Hymans Robertson having joined the firm in 2005 and is driven by a passion for delivering better financial outcomes for individuals both at retirement and throughout their lives. As the new Chair, Paul will act as a key bridge between the Foundation and the firm, helping its work to deliver lasting impact for disadvantaged young people and communities throughout the UK.
They say that March comes in like a lion, goes out like a lamb, well in terms of the weather Storm Amy at the beginning of the month seems to make that true but with conflict in the Middle East I am sure the people in that region do not think the old saying holds sway. Our cover story this month comes from Mark Brown from WTW examining the role of AI in Financial reporting asking if it is hype or reality. We also have Laura Hobern from LCP with the second part of her series on pricing in a softening market and the role of judgement in deciding when to follow the market.
The frequency and intensity of severe convective storm (SCS) events have increased significantly, leading to insured losses in billions of US dollars globally. Damage to aircraft, buildings, manufacturing plants, and renewable power generation, including solar panels, are among the most expensive drivers of hail claims, Allianz Commercial analysis shows. SCS events are unpredictable, but risks can be mitigated with a combination of traditional resilience measures and artificial intelligence (AI) solutions.
A relief wave hits equity markets amid Trump’s claims the war with Iran will end in weeks. Brent crude falls to below $100 a barrel, but worries remain about supplies going forward. OpenAI’s mega valuation following a funding round highlights private markets opportunities.
Global M&A shrugs off high volatility and geopolitical noise, as the value of completed deals soars to five-year high of $438 billion – an increase of over 155% in 12 months
Howden has agreed to acquire the Insurance and Financial Services Consulting Team (“IFS team”) of Hymans Robertson LLP, strengthening its specialist insurance actuarial and longevity consulting capabilities.
With the new tax year starting on 6 April, this is a good moment to revisit how your pension scheme gives tax relief. The method you use – net pay, relief at source (RAS) or salary sacrifice – shapes employees’ take-home pay, their experience of saving and the accuracy of your payroll processes. RAS deducts contributions after tax and the provider claims 20% basic-rate relief for the member, with higher-rate taxpayers claiming any extra separately.