LCP’s predictions for the pension risk transfer market in 2024

Charlie Finch, Imogen Cothay and Ruth Ward, alongside LCP’s pension risk transfer team, have considered what might lie ahead for the de-risking market in 2024.

Here, they share their predictions for 2024 and discuss how these might impact schemes that are considering insurance through a buy-in, buy-out or longevity swap, or a wider risk transfer option such as a superfund transfer.

LCP’s top predictions for the buy-in, buy-out and longevity swap market in 2024:

1. Volumes of buy-ins/outs will set (yet another) record of £50bn+, driven by higher numbers of £1bn+ deals
2. Pricing may harden, but attractive opportunities will still be available
3. Significant investment in the UK buy-in/out market with two new entrants
4. Greater focus on run-on, superfunds and alternatives to buy-out
5. More exclusive sole insurer processes