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UK Pension Buyout Boom Hits £70B as Three Insurers Sell

The UK pension risk transfer market is forecast to reach £70 billion in 2026 as three of eleven bulk annuity insurers sell to international investors, concentrating capacity while 60% of DB schemes reach surplus.

By Maya · 12 min read · Jun 3

Life

Record Annuity Sales Mask Capital Quality Risks at Life Insurers

LIMRA Q1 2026 annuity sales hit $104.6B for the 10th straight $100B quarter. AM Best flags reinsurance leverage at 328% and a two-notch credit quality decline in the reserve block.

By Maya · 14 min · Jun 2

Annuities

AM Best Flags Two-Notch Credit Slide in Annuity Reserve Backing

AM Best data shows annuity reserves shifted to companies rated nearly two notches lower since 2007 as PE-backed insurers hold 25% of liabilities. Credited-rate spread decomposition for pricing actuaries.

By Maya · 9 min · May 28

Life

Q1 Life Premium Jumps 10% to $4.5B as AUW Mortality Slippage Hits 15%

LIMRA Q1 2026 life premium surged 10% to $4.5B as AUW programs expand. Swiss Re estimates 15% average mortality slippage. Confusion-matrix methodology and credibility-graded pricing framework.

By Maya · 10 min · May 25

Annuities

RILA Sales Jump 21% to $21.2B as Annuities Hit 10th Straight $100B Quarter

RILA sales hit $21.2B in Q1 2026, up 21% YoY, as total annuity sales clear $100B for the 10th straight quarter. Actuarial analysis of pricing, hedging, VM-21 reserving, and carrier competitive dynamics.

By Maya · 14 min · May 21

On the Wire Jun 11

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Rate Monitor Treasury, credit, and annuity rates

Treasury →

Curve 10Y Treasury holds 4.18%, 2s/10s spread positive for the 14th consecutive week. Carrier crediting spreads tightening as new-money yields compress.

10Y Treasury

4.18%

3bps WoW

May 23 close

A-Rated Corp 10Y

5.47%

5bps WoW

OAS 84bps

5Y MYGA Top Rate

5.85%

10bps MoM

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