Insurance
Video: Simple is a good starting point - the LLMA explains its pricing framework proposals
Guy Coughlan talks to Life & Pension Risk about the LLMA's longevity derivative pricing framework - and how to stimulate the market
Financial crisis whets appetite for LDI by German pension funds
German corporate pension plans turn their attention to interest rate and inflation hedging
LLMA attempts to stimulate longevity market with pricing framework
Industry body seeks to create benchmark price level to expand market participation
Assessment of longevity risk under Solvency II
As the implementation of Solvency II looms, the calibration of the standard formula remains a controversial issue as the industry runs the fifth quantitative impact study. But the current design overshoots the one in 200 year confidence level.
Cern pension fund – moving beyond LDI
Frontiers of funding
Canadian defined benefit pension schemes’ solvency deteriorates
Canadian pension plans slip back from fully funded status
Funding needs drive banks to “borrow” liquidity from insurers and pension funds
Insurers and pension funds offer banks a lower-cost solution to their funding issues
Cash variation margin requirements worry pension funds
Having to post cash as variation margin to central counterparties (CCPs) will cause substantial yield losses for pension funds that conduct liability-driven investment (LDI) strategies, according to fund managers.
Botched legal work in BT privatisation responsible for potential £23 billion pension liability for UK taxpayers
Flawed legal agreement behind landmark UK privatisation leaves UK taxpayers counting the cost
FSA defends "risk sensitive" Solvency II data weightings
FSA says weighting of data in SCR calculation should be driven by economic environment - and is not pro-cyclical
If everyone says we got QIS 5 wrong, then we must have got it right: van Hulle
European Commission rejects industry criticism over the calibration of QIS 5
Pension Protection Fund levy to incorporate investment risk
PPF consults over basing the majority of levy payments on the level of scheme’s risk
Total return swaps – pension funds seek security in uncertain markets
Many happy returns
ATP hits out at resurgence of hybrids
Hybrid debt is in the firing line for offering equity risk but only bond yields
Scor eyes UK pension funds’ longevity risk
Reinsurer Scor becomes the latest firm to enter the longevity arena
Capital levels for Sampension would have tripled under Solvency II without retreat from intentional guarantees
Longevity component of Solvency II drives Danish pension fund away from hard guarantees
OECD urges IASB to review scheme definitions
International body says there is "a lot of confusion in the treatment of a lot of plans around the world".
Basis risk no barrier to longevity securitisation say experts
Academics and JP Morgan team show how to mitigate exposure from differences between population mortality rates
Danish pension funds hit out at cross-subsidy regulation
PKA and Sampension say cross-subsidy regulation threatens Danish pension system
Aegon rescue aid contingent on VA hedging programme
EC makes variable annuity hedging a factor in Aegon bailout approval decision
Uncertain outcomes – insurers and pension funds tackle inflation risk
With central banks’ discount windows pouring money out at rock-bottom rates but economies still slow to use up excess capacity, the outlook for inflation has never been murkier. Uncertainty has created arbitrage opportunities for inflation risk managers…
Insurers prepare for M&A explosion
A number of drivers could push financial groups to dispose of life insurance assets in the near future. But a boom in M&A will also need buyers, which could prove difficult to find. By John Ferry