Graph shows annual bulk annuity and longevity swap volumes since 2006. The chart shows an overall upward trend of the value of bulk annuity and longevity swaps completed each year – from £2bn of bulk annuity transactions in 2006, to a high of £56bn – including £24bn of longevity swaps - in 2020. There was a sharp acceleration in volume during 2019, before a relatively small decline to £43bn in 2021.