Pensions Risk Transfer Market Projected To Hit £1T By 2031

Law360, London (February 11, 2021, 1:24 PM GMT) -- An estimated £1 trillion ($1.4 trillion) of British pensions risk will have been insured by 2031, a retirement consultancy said on Thursday, as more schemes seek to offload liabilities to insurers.

Hymans Robertson said the already rapidly growing risk transfer market will continue to expand in the next 10 years, with an additional £700 billion of pension liabilities set to be covered by insurers.

Companies with defined benefit occupational saving schemes increasingly want insurance to guard against shocks to the market or the risk that members will live longer than expected. The London-based consultancy said that £300 billion has been insured since...

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