Hymans Robertson leads advice on £18m buy-in with Utmost

A UK pension scheme (‘the Scheme’) has completed a £18m buy-in with Utmost. The transaction, which completed in December 2024, fully insures the benefits of over 270 members of the Scheme. 

Hymans Robertson acted as lead transaction adviser, supporting both the Trustee and Company, together with Gateley providing legal advice. This transaction represents Utmost’s second transaction since entering the bulk annuity market, as confirmed in their January 2025 press release.  

Iain Church, Head of Core Transactions at Hymans Robertson and lead adviser, says:  

“Successfully transacting with a newer entrant to the market requires extensive due diligence and can be more complex than working with an established insurer. However, Utmost’s solution-focused approach, combined with the deep expertise of our risk transfer team—who have advised on early transactions with all the new providers in recent years—ensured a smooth and efficient process. We are delighted to have helped our client secure this transaction, delivering long-term security for members while leveraging the growing competition in the market.” 

Gary Needham, Head of BPA Business Development at Utmost says: 

“This was a great opportunity for us and we are pleased to have been able to complete the buy-in and secure a positive outcome for the Trustee and their members.  Early engagement with the Trustee and their advisers, along with an ongoing collaborative and transparent approach enabled all parties to get comfortable with the transaction in a relatively short timeframe.”