| 9:00 |
Welcoming Address
Martin Bird, Senior Partner and Head of Aon Risk Settlement Group
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| 9:05 |
Market Updates
These bite sized sessions introduce and share the latest updates on key de-risking strategies, helping you better understand what may be the most appropriate way to secure the future of your scheme for your members
- Buy-outs / Buy-ins John Baines, Partner, Aon
- Consolidators Rhian Littlewood, Senior Consultant, Aon
- Longevity Swaps Tom Scott, Principal Consultant, Aon
- Member Options Tom Williams, Senior Consultant, Aon
- GMP Equalisation Tom Yorath, Principal Consultant, Aon
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| 10:05 |
Keynote Address – Legal 101
What is required, and by whom? Is there a one size fits all, or is each transaction bespoke? This session will look at legal considerations and implications when considering a de-risking exercise.
Georgina Rankin, Partner Eversheds Sutherland
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| 10:25 |
Integrating Investment into your de-risking flight plan
During this session we discuss ways in which schemes and sponsors can move towards a more stable and secure funding position by working to a predefined end goal. Alongside this, we will consider the actions needed to ensure your assets are transaction ready when needed to get the most attractive price from insurers.
Lucy Barron, Partner, Aon
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| 11:00 |
Keynote Address: Understanding behavioural bias when de-risking
Aon commissioned research in early 2019 to find out trustees' understanding and views on longevity risk, and the options available to reduce that risk. Behave London also canvassed opinion from legal advisers, insurers, administrators as well as experts in life expectancy measurement and projections. During this discussion Hannah will share key behavioural insights and provide prompts to help you to take a step back and reflect on the bigger picture when considering a de-risking exercise.
Hannah Lewis, Founder, Behave London
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| 11:20 |
De-risking Workshop – From training to transaction in 60 minutes
During this session we will take you through the full de-risking journey in 60 minutes. Broken down into 4 parts:
- Decide your strategy
- Engage with the market
- Selecting a provider
- Completing your transaction
For each of these segmentations we will present you with 3 perspectives:
- Scheme perspective – What is involved, and what Aon would recommend when advising
- Insurer perspective – Insights to what insurers look for at each of the stages
- Behavioural views – Biases to avoid, and wider considerations to take
Karen Gainsford, Principal Consultant, Aon, Mike Edwards, Partner, Aon, Hannah Lewis, Founder, Behave London
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| 12:20 |
Panel Discussion – The Power of 36
The last 18 months have seen an unprecedented amount of activity, with the bulk annuity market doubling in 2018 and seeing over £35bn of business placed.
Our panel of insurers will share their views on best practice seen over the last 18 months and what the future holds. The panel will answer your questions on how to ensure that your scheme is well positioned when it is time to de-risk.
Justin Grainger, Head of Bulk Purchase Annuities, Phoenix Group
Uzma Nazir, Head of Origination Structuring, Pension Insurance Corporation
Gavin Smith, Director, Pension Risk Transfer, Legal & General
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| 12:55 |
Longevity – still in flux?
In 2017, Aon played a pivotal role in getting insurers and reinsurers to relocate their pricing in line with the emerging data on a material fall in longevity improvements. It is possible that 2018 may mark the end of this phase and that, once again, life expectancy will start to accelerate upwards. Tim will share the latest insights into current trends and reinsurer thinking on longevity pricing.
Tim Gordon, Partner and Head of Demographic Horizons™, Aon
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| 13:10 |
Closing remarks
A round up of the key learnings from the morning discussions.
Martin Bird, Senior Partner and Head of Aon Risk Settlement Group
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