Institutional Insights

2023 Pension Risk Transfer trends in the UK and US markets

The UK and US Pension Risk Transfer markets experienced an extremely busy 2022 with burgeoning demand signifying an exciting year ahead. Aysha Patel, New Business Origination Lead, Legal & General Retirement Institutional and Alex Gagnon, Distribution Manager, Legal & General Retirement America, discuss market dynamics and the trends we’re seeing in 2023.

Being a Vulnerable Customer Champion

At Legal & General, looking after our customers is our number one priority and we understand that they all have different needs. In this episode, Pensions Administrator, Michala Crouch talks to our Vulnerable Customer Champions about the work we do in ensuring our teams can recognise those who require additional support. They’ll also highlight what services we provide to vulnerable customers, putting them at the heart of everything we do.

Engaging members with their DB pension

In this episode Michala Crouch, Pensions Administrator, talks to George Hutchinson, Customer Service Manager and Lauren Alexander, Team Manager at Legal & General Retirement Institutional about our partnership with the Customer Contact Association (CCA). They also provide an insight into how the Client Services team go above and beyond to deliver a great service to both trustees and members.

Navigating uncertainty: how to use market volatility to your advantage

We all know that markets move. However, in the past few years we’ve lived through one of the most turbulent periods in modern history. Yet market volatility can also create opportunities for pension schemes on their de-risking journeys – during this period we have seen some of the most of attractive bulk annuity pricing in the history of the UK market.

The market factors that most impact buyout affordability have continued to move positively over the course of this year, namely interest rates and credit spreads. In this episode, Sabeen Iftikhar, Director in our Pension Risk Transfer (PRT) business, talks to Aysha Patel, New Business Origination Lead, PRT and Mat Webb, Head of insurance Solutions & Strategy at Legal & General Investment Management, about how pension schemes can take advantage of market volatility and achieve favourable pricing opportunities.

What sits behind insurer pricing?

Bea Male, Client Solutions Director talks to Dave Matthews, Head of PRT Quote Production and Roshni Sakaria, Actuarial Manager, about our insurer quote processes, while exploring the key inputs and factors that influence bulk annuity pricing. The episode also discusses how market volatility can impact pricing, as well as highlighting how insurers can help pension schemes take advantage of favourable pricing opportunities using different solutions, such as ‘price locks’.

City regeneration

This episode welcomes Wes Erlam, Head of Urban Regeneration, Ben Rodgers, Head of Regeneration and Aaron McClure, Investment Manager where they demystify how our unique business model enables us to deliver our purpose of inclusive capitalism.  By using examples of our regeneration projects in Manchester, Cardiff and Oxford, where we've created jobs, homes and services for local people, we can highlight how businesses can benefit the wider economy, while generating the right level of returns for customers.

What to expect in 2022

Industry experts expect 2022 to be another busy year for the Pension Risk Transfer (PRT) market. In this episode, we welcome back John Towner, Head of UK New Business, LGRI and Sheena McEwen, Head of Distribution, LGRA, where they reflect on trends presented in the UK and US markets throughout 2021 and what we can expect to see in 2022.

S3 E5 - Preparing to come to market

We often hear the term “preparation is key” when pension schemes start their de-risking journey, but what does this actually mean? In this episode, we’re joined by Matt Nelmes, New Business Manager in LGRI, who outlines what schemes need to consider before coming to market.

S3 E4 - How the environment impacts mortality

A year on, we welcome back Darryl Brundle, Head of Longevity and Ashley Kanter, Longevity Research and Innovation Specialist in LGRI's Longevity team, who have been exploring links between climate change and mortality rates. In this episode, Darryl and Ashley discuss their findings and explain why this information is important to insurers.

S3 E3 - The history of Legal & General‘s PRT business

Legal & General Retirement Institutional is the UK’s market-leading bulk annuity provider, with over 30 years’ experience, it has insured over 3,500 pension schemes and currently looks after over half a million pension policyholders.

It all started in 1986, when senior management created two new business units. One was Group Risk; the other was Bulk Purchase Annuities (BPA). In this episode, we're joined by Dave Poulton, Chief Customer Officer at LGRI and welcome back retired senior actuary Dennis Canham, who was given BPA to “see what he could make of it”, as they discuss how our PRT business has developed throughout the years to what it is today.