As the DB pensions market matures it is becoming increasingly important for pensions consultants and scheme actuaries to be aware of recent developments in insurance and asset de-risking. This session will focus on the latest thinking in the buy-in/out, longevity insurance and pension scheme investment markets
Papers for this event will not be released till after the event.
This session will focus on the latest thinking in the buy-in/out, longevity insurance and pension scheme investment markets. You can hear the leading players in the pensions de-risking market deliver detailed analysis of some of the most significant recent bulk annuity deals, as well as providing authoritative forecasts for future trends and innovation. There will also be a focus on the latest solutions which schemes are adopting to de-risk their investment strategy and a panel discussion covering will consider the practical aspects of de-risking, focusing primarily on liability management exercises.
Chair: Murray Blake, LCP
Event organiser
Contact Events Team for more information.
eventmanagement@actuaries.org.uk
0207 632 1498
Speakers
David Collinson
David was part of the team that established Pension Insurance Corporation in 2006. He was co-head of the new business and pricing teams through to 2014 and then took on a new role of Head of Strategy. David has led some of the largest bulk annuity transactions in the market and more recently wa
Duncan Hale
Duncan is the Portfolio Manager for the Secure Income Fund, a fund that invests across low risk, cash generative strategies in the UK across the infrastructure, real estate and real asset debt asset classes.
Matt Wilmington
Matt is a Fellow of the Institute and Faculty of Actuaries. He joined Legal & General in 2016 and is responsible for leading high profile pension risk transfer transactions.
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09.00-09.30 Registration and refreshments |
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09.30 – 09.35 Chair’s introduction |
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09.35 - 10.30 An overview of the bulk annuity market & predictions for 2017 David & Uzma will look back at the key buy-in and buy-out transactions completed over 2016, before giving their views on how the market will develop over 2017 and beyond. |
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10.30 – 11.20 Pensions de-risking – an overview This session will provide an overview of the derisking market; including a summary of the longevity swap structures available to pension schemes, with focus on the growing number of solutions available to smaller schemes; and consider a number of general key legal issues with practical guidance on what trustees should focus on. |
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11.20 – 11.35 Morning refreshments |
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11.35 – 12.25 Pensions de-risking – an overview contd., followed by Q&A session |
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12.25 – 13.15 How can your clients use medical underwriting to guide their de-risking journey Andrew will cover the latest developments in the use medical underwriting for bulk annuity transactions. He will also introduce a recent innovation, Medical Underwriting Mortality Studies (MUMS), which incorporates underwriting information into the derivation of actuarial valuation assumptions and has delivered significant savings for a number of scheme sponsors over 2016. |
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13.15 – 14.05 Lunch |
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14.05 – 14.55 Cash-flow generating real assets – the next big thing for pension schemes? As Defined Benefit pension schemes mature and de-risk, finding ways of generating sufficient cashflow to pay benefits from assets is becoming increasingly difficult. Duncan talks about an increasing trend to utilise illiquid, real assets to help DB schemes manage their liabilities. |
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15.00 – 16.00 Panel discussion – the key practical issues in executing de-risking transactions Chair: John Reeve, Cosan Consulting Speakers: Philip Whittome, Capital Cranfield, Claire Petheram, Linklaters and Matt Wilmington, L&G We have put together a panel consisting of those with a range of experience of de-risking projects from the providers and legal advisers to Trustees and Sponsors. The Panel will consider the practical aspects of de-risking, focusing primarily on liability management exercises. They will look at what they have learned from these exercises and how they would advise those considering such exercises in the future. Consideration will also be given as to how the panellists expect these exercises to differ in the future. Attendees will have the opportunity to share their experiences and to ask the panellists questions. |
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16.00-16.05 Chair’s closing remarks |
Location
Address
Staple Inn Hall
High Holborn
London
WC1V 7QJ
Nearest Public Transport
Chancery Lane Station