Annuities
US regulators crack down on complex annuities sales
State watchdogs issue warnings as insurers turn to proprietary index products
Risk manager of the year: Credit Suisse
Bank’s fluid approach to risk recycling allows tighter pricing than slower rivals
Retail structurer of the year: BNP Paribas
Bank has sought to bring new investors into structured products market with innovative deals
North America house of the year: JP Morgan
Bank has consolidated its share of the retail market and gained ground in annuities
UK annuity providers seek inspiration from abroad
US and Scandinavia supply template for product innovation
Structured product providers eye pension-specific investments
Hopes structured products will soon find a place in pensions
New annuities are structured products in all but name
Buffers and baskets have appeal beyond structured notes and CDs
Bulk purchase of enhanced annuities offers growth potential
Medically underwritten buy-ins offer opportunities but with unique risks
Robust hedging of withdrawal guarantees
Robust hedging of withdrawal guarantees
Pricing in the UK bulk annuity market returns to historical norms
Buyout prices closer to historic norms in 2010, according to leading UK annuity provider Legal & General
Gender discrimination ruling leaves annuity providers confused over capital
UK annuities providers cannot price for gender, but must still reserve capital for it
Longevity swaps and the bulk purchase annuity market: Video interview with Simon Gadd, Legal & General’s head of annuities
Longevity swaps have yet to move into the mainstream – but bulk buyouts could be set return to favour
Focus on liquidity premium for annuity providers neglects policyholder interests
Ceiops governance committee chair says ABI’s focus on liquidity premium gives too much weight to industry opinion
Irish government considers sovereign annuity bonds
IAPF director insists plan is not a bailout of private sector schemes
The longevity challenge of care annuities
For most of the life industry, getting policyholder longevity predictions accurate to a few months of the realised experience would be cause for celebration. But for care annuity provider Partnership, this level of accuracy could be disastrous. Aaron…
Solvency II to push annuity providers to gilts
Fitch analysts say demand for corporate bonds could drop as Solvency II forces UK insurers to opt for gilts
Struck off
Credit default swaps (CDSs) offer protection against issuer default, and in general the protection is paid via a running spread rather than upfront. When the par spread changes, the contract cannot be unwound without leaving a default-contingent annuity…
Living with volatility
Variable annuities