DB buyout market soars

The value of the insurance buyout market for defined benefit (DB) pension schemes demonstrated dramatic growth in the last quarter of 2007. According to Aon Consulting’s most recent Quarterly buyout market survey, the number of cases placed in the last quarter of 2007 (75) was similar to the other three-quarters, but the total value of £1,863m was more than twice that placed in the previous three-quarters altogether. Large deals included P&O, Emap, Lasmo and Weir.