Pandemic can wipe billions off pension scheme liabilities & more…Keep up with what has been happening this week in our latest actuary news round-up…

Insurer expects car accidents abroad to increase

Data from Admiral shows that car accidents are more likely to occur in August compared to any other month in the year. Head of Claims at Admiral, said “As travel restrictions continue to ease, we expect to see a rise in the number of people deciding to drive to Europe in the coming weeks instead of flying this year… we received almost 3,000 claims for accidents abroad in 2018 and 2019, and 39% of these accidents happened in France.”

Hymans Robertson appoints new CIO

David Walker has been named the new CIO of Hymans Robertson; and is head of the local authority pension fund investment services at the firm. He will be taking over from Andy Green; who will remain at the firm as a chairman of the investment committee.

Pandemic can wipe billions off pension scheme liabilities

Findings from XPS Pensions Group’s COVID-19 Impact Analytics suggests that the coronavirus pandemic could reduce the liabilities of define benefit (DB) by up to £90bn in the UK.

Llloyd’s of London proposes ways for insurance to prepare for future pandemics

Insurance market, Lloyd’s of London has published a few different ways the Insurance industry can recover from the economic and societal impact of the current Covid-10 crisis; and how they can also prepare for further pandemics.

Data shows market for Pensions transfers maintained in lockdown

Data recorded by the Origo Transfer Index (OTI) has shown that the market for pensions transfers, during the second quarter of 2020, has maintained its levels of performance amid the lockdown and financial crisis to businesses.