£18bn of UK bulk annuities/longevity swaps disclosed in H1

Written by Adam Cadle

05/10/2022

A total £18bn of bulk annuities and longevity swaps were disclosed in H1 2022, according to Aon’s UK Risk Settlement Market Update, and the firm expects 2022 to be the fourth year in a row that the market surpasses the £25bn mark for bulk annuities.

Bulk annuities amounted to £12bn in H1 2022 across 78 transactions. Aon said a higher volume is expected for the second half of the year, albeit this will be tempered by further yield rises which have reduced the value of any individual transactions.

The first half of 2022 still marks a significant step-up from the first half of 2021, when 60 transactions were written covering £7.7bn of liabilities, as the market recovered from the effects of prolonged lockdowns and the resulting economic uncertainty.

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