Paternoster has been put up for sale, with its original backers facing the loss of more than half their £500m equity investment.
Paternoster is calling for regulators to impose a clear framework for companies offering cash inducements to DB members transferring out of a scheme.
Paternoster has appointed Chris Baker as investment director.
The cost of buying-out defined benefit pension liabilities has reduced significantly over the last 18 months as the marketplace becomes more competitive, says Paternoster.
Aegon has teamed up with UBS Global Asset Management to offer a joint proposition which will extend its presence in the bulk annuity market.
Legal & General has lost its finance director of UK operations to bulk annuity rival Synesis Life.
Only one in ten companies over the next three years are expected to remove their pension scheme liabilities, suggesting an increase in providers has not boosted business within the bulk annuity market.
F&C management has been appointed as investment manager for new bulk annuity entrant Synesis Life.
Paternoster, one of the newest entrants to the bulk annuity market, has completed its 10th transaction in less than six months of operation.
New pensions buy-out company Paternoster today announced its first deal - the purchase of the final salary scheme of a London underwriting agency, reports the Times .