Keep up with what has been happening this week in our latest actuary news round-up…

FCA finds over £20bn of DB transfers in the past two years

New data from the Financial Conduct Authority (FCA) has revealed that over £20bn of defined benefit pensions were advised to transfer between 2018 and 2020.

UK company dividends will not recover until 2025

Link Group has predicted that UK company dividends will not return to pre-Covid levels until 2025 after payouts fells by 44% to £61.9bn in 2020 which is the lowest annual total since 2011.

Head of Intermediary Development at Legal & General to retire

Richard Kateley, the Head of Intermediary Development has said that he will retire from the insurer after the pandemic has given him a new perspective on life.

Allianz Global Investors hire new managers for Global Sustainability strategy

Allianz GI will be hiring new managers for its £1.3bn Global Sustainability strategy as Paul Schofield and Jeremy Kent, portfolio leads of the strategy plan to leave the business at the end of the first quarter to ‘pursue other opportunities’.

Businesses concerned about reputational risk

Willis Towers Watson has revealed in its 2020 Reputational Risk Survey published last year that 86% of their clients were concerned about the loss of income and reduced customer based due to reputational risk.

Legal & General announce buy-in deal with Evonik

Legal & General have announced that it has agreed to a £544 million annuity deal of four pension schemes sponsored by Evonik UK Holdings Ltd. This will allow Legal & General to secure the benefits of over 3,600 UK defined benefit pension scheme members.

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