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Lloyds Banking Group agrees £5.5bn longevity swap
Scottish Widows acts as an intermediary insurer while SCOR provides 100% reinsurance coverage
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Scottish Widows and Rothesay complete £6bn in-force bulk annuity deal
The transaction is expected to lead to a Part VII transfer of underlying assets and policy liability next year
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PAAO initiative’s first progress report showcases innovation, best practice for net zero goals
Latest disclosures include targets from asset owners including AP7, Lloyds Banking Group Pensions Trustees Limited, Railpen and Ilmarinen
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People moves: IFM Investors bolsters London team
Plus: Aon appoints new partner; Brown Advisory adds trio to advisory board
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Standard Life Aberdeen and Lloyds settle dispute over £104bn contract
Standard Life Aberdeen will continue to run £35bn on behalf of Lloyds Banking Group until “at least April 2022” and receive £140m compensation
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People moves: UK £1.2bn plumbing scheme seeks CEO
Plus: IGG welcomes 12 to group; Broadstone adds to consulting and actuarial division
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People moves: Lloyds pension director joins Law Debenture [updated]
Law Debenture, Lloyds Banking Group, Aviva Investors, Russell, IA, PGIM, Jennison, QMA, Schroders, Just, Heptagon Capital, Scottish Widows, Edmond de Rothschild AM, Citrus, Gresham House, GAM
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LCP hires COVID-19 Actuaries Response Group founder
McDonald will help trustees and sponsors understand and navigate longevity and demographic trends
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Friday people roundup
KPMG, Lloyds Banking Group, Guinnesss AM, M&G, IFM Investors, Aviva Investors, LGIM, Schroder Real Estate, Vasakronan
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Equities – Does location matter in the corporate listings debate?
The number of listed companies have fallen dramatically, but London remains a preferred global financial centre
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People moves: Swedish Pensions Agency director moves to financial regulator
Fidelity International, DWP, MaPS, AXA IM Alts, Nikko AM, Lazard, Finansinspektionen, TELA, LSR
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Aberdeen Asset Management acquires SWIP in £550m deal
Asset manager’s share price up by sixth after partnership with Lloyds Banking Group announced
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People moves: Jeremy Farrar to step down as Wellcome Trust director
Allianz Global Investors, Wellcome, Isio, SuMi TRUST, People’s Partnership, London CIV
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CCLA launches company mental health benchmark
The benchmark gives institutional investors a new tool for appraising and engaging with companies
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AXA UK scheme signs £3bn longevity swap for mostly deferred liabilities
Nearly 93% of the scheme’s liabilities are now protected against chance of members living longer than anticipated
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UK banks' pension liabilities exceed market cap, Citi says
Lloyds Banking Group sees worst market cap to liabilities ratio of 115%, Citibank says.
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Church Commissioners name new head of responsible investment
Bess Joffe fills position vacated by Edward Mason
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Scottish Widows, Standard Life Aberdeen disputing £109bn contract
Newly merged asset management group is fighting insurer’s decision to put management contract out to tender
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People moves: Velliv’s chief strategist to exit
Velliv, Folksam, B&CE, Isio, MN, Meubel, Wilshire, Insight, Barnett Waddingham, Eastspring Investments, ESMA, Puro.earth, Carillon