By Anthony Brewer at BWCI anthony.brewer@bwcigroup.com “The priority for many schemes has become protecting their improved funding positions” A rapid rise in yields has changed the funding picture for many Defined Benefit (“DB”) pension schemes dramatically over the last couple of years. It is hard to exaggerate the speed at which the yields on UK… Read More »
Local pension provider, BWCI Pension Trustees Limited has announced changes to its Blue Riband range of pension products to align with its commitment to sustainability and responsible investing. BWCI has also pledged to achieve net-zero greenhouse gas emissions by 2030. Lifestyle members of Blue Riband can now access “Green” or “Sustainable” funds, which incorporate sustainable… Read More »
By Michelle Galpin at BWCI michelle.galpin@bwcigroup.com “the excess deaths, relative to the number expected, has increased” In the previous edition of Bandwagon we highlighted the emerging trend, which was identified in the second quarter of 2022, of the increasing number of “excess deaths”, relative to those expected based on the rates of mortality experienced in 2019.… Read More »
By Clair Le Poidevin at BWCI clair.lepoidevin@bwcigroup.com “a significant milestone in reforming the Solvency II framework” On 29 June the UK Prudential Regulation Authority (PRA) published a consultation paper (CP 12/23) on proposed changes to the Solvency II regime within the UK. The consultation is a significant milestone in reforming the Solvency II framework for the… Read More »
By Jonathan Kemp at BWCI jonathan.kemp@bwcigroup.com “a tectonic shift in insurance accounting” IFRS 17 Insurance Contracts, a new insurance accounting standard, represents a tectonic shift in insurance accounting. The implementation date of 1 January 2023 means that many companies are now only a few months away from producing their first annual financial statements under the… Read More »