Bulk annuity market: Q2 trustee update
Bulk annuity market: Q2 trustee update
15 Apr 2024
After a very strong finish to last year, the momentum has continued in 2024. Insurer capacity has been re-set for the new year, and although demand continues to build and some deals attract fewer bidding insurers, pricing remains competitive for well-prepared schemes of all sizes.
We examine the latest trends in insurer pricing, the outlook for the remainder of 2024 and highlight some of the key themes expected to impact the market. Download the XPS Risk Settlement Watch PDF below or read further for some of the briefing highlights.
Market commentary
- 2023 was confirmed as a record year with £49.1bn of business written, with Q1, 2024 also starting strongly with several large deals already announced.
- XPS has already led on 5 transactions in Q1 2024
- Insurer capacity constraints have eased as insurer capacity levels are re-set, and although some deals attract fewer bidding insurers, pricing remains competitive for well-prepared schemes of all sizes.
Notable deals in the last quarter in the public domain included:
| De Beers | £870m | Large whole-scheme transaction, written by PIC |
| Rexam | £1.4bn | Whole-scheme transaction with residual risks, written by Rothesay |
Download our PDF briefing here to read more.