Pension risk — market update
Last year was a ground-breaking year. The longevity swap market broke previous records with £8.9bn of liabilities being passed to providers. The market has continued to evolve, including:
Largest insured longevity swap in the UK to date: Allen & Overy advised BAE Systems on a deal covering liabilities amounting to £2.7bn, relating to around 31,000 pensioners.
First simultaneous swap with a single insurance provider: Allen & Overy advised on a second deal for BAE Systems, covering liabilities of £1.7bn and around 17,000 members. This covered two further schemes, one of which was sectionalised, resulting in three simultaneous ‘mini-swaps’. This structure enables smaller group schemes to gain access to commercial terms not available to them individually…
If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.
News from Allen & Overy
News from The Lawyer
Briefings from Allen & Overy
The OFAC has imposed a new set of ‘sectoral sanctions’ against two Russian energy firms and two Russian banks pursuant to Executive Order 13662.
The high number of companies eyeing acquisitions or ventures that will allow them to redomicile their business in the UK and Ireland is a major theme of this report.
Analysis from The Lawyer
At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.