LONDON (Reuters) - The UK bulk annuity market for insuring company defined benefit, or final salary, pension schemes totalled a record 42 billion pounds in 2019, consultant Hymans Robertson said on Thursday.
The total, nearly double 2018 volumes, included seven multi-billion pound mega-deals, Hymans said in a report, as companies increasingly offload their pension schemes to an insurer to take risk off their balance sheets.
Insurers such as Legal & General (L:LGEN) and Aviva (L:AV) are active in this market.