Many schemes are increasingly focused on de-risking and their ultimate “End Game” which is typically buy-out with an insurer. In this one day seminar 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.
The first half of seminar will provide market insights from the insurance and reinsurance sectors, including a discussion of the key requirements and potential impact of the Solvency II insurance regulatory regime from Sammy Cooper-Smith of Rothesay Life. This will be followed by an introductory session on the longevity reinsurance market which will examine the way that reinsurers approach pension scheme longevity pricing. The morning will be rounded off by Emma Watkins of Scottish Widows who will discuss how she expects the bulk annuity and longevity market will develop over 2016 and beyond.
We will then move onto a deep dive into recent transactions, including a panel discussion focusing on an area that has not been addressed in previous seminars - the practicalities of bulk pension deals, with a focus on the actuarial, legal and post-transaction issues that commonly arise. The day will then close with an overview of the rapidly growing pensions de-risking market in North America.
Chair: Murray Blake, LCP
This seminar will be relevant for all pensions actuaries, whether you are heavily involved in bulk transactions or simply want to gain a better understanding of the pensions insurance market in order to derive a better solvency estimate in your next valuation report.
Event organiser
Contact Events Team for more information.
eventmanagement@actuaries.org.uk
0207 632 1498
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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 -12.35 Morning Session: The Market Landscape |
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09.35 - 10.35 A review of the bulk annuity market and the potential Impact of Solvency II Solvency II has has been a hot topic in the life insurance industry for many years now, but what impact will it have on the bulk annuity market? This session will explain the key requirements of Solvency II, including an in-depth explanation how the “matching adjustment” provisions will work in practice. It will then discuss the potential impact of Solvency II on buy-in/out pricing and in particular whether it will make transactions involving deferred members prohibitively expensive. Speaker: Sammy Cooper-Smith, Rothesay Life |
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10.35 - 11.20 Longevity Reinsurance Q&A Solvency II encourages the use of longevity reinsurance, meaning it will be increasingly important for actuaries working in the pensions de-risking space to be familiar with the reinsurance market. This session gives you the chance to ask Munich Re’s Head of Longevity, Martin Lockwood your questions about the reinsurance market and how reinsurers approach pricing pension scheme business. Speaker: Martin Lockwood, Munich Re |
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11.20 - 11.35 Morning Refreshments |
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11.35 - 12.35 Where next for pensions de-risking? Emma Watkins will discuss the motivations behind Scottish Widows entering the bulk annuity market, before giving her views on how the market will develop over 2016 and beyond. Speaker: Emma Watkins, Scottish Widows |
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12.35 - 13.20 Lunch |
| 13.20 - 16.30 Afternoon Session: Transactions – a Deep Dive |
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13.20 - 14.50 Panel discussion - the practicalities of bulk annuity transactions Many seminars and conferences have focussed on the high-level, strategic aspects of bulk annuity and swap deals, but very few have discussed the motivations behind a transaction, as well as the actuarial, legal and post-transaction issues that commonly arise. In this session John Reeve will explore a range of key practical issues that consultants and schemes should be aware of before embarking on a de-risking transaction. He will be joined by a panel of experts who have worked on all stages of transactions, from feasibility through to implementation. Chair: John Reeve, Premier Companies |
| 14.50 - 15.10 Afternoon Refreshments |
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15.10 - 16.25 Pensions de-risking in North America - a case study The North American bulk annuity and longevity insurance markets are expanding rapidly, with increasing interest from pension plans in de-risking options. This session will cover case studies of recent transactions, followed by a discussion of how the North American market will develop over 2016. Speaker: Cheryl Agius, Legal & General |
| 16.25 - 16.30 Chair’s closing remarks |
Location
Address
Staple Inn Hall
High Holborn
London, WC1V 7QJ
Nearest Public Transport
Chancery Lane Tube Station