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Risk Transfer

One of the biggest concerns for scheme trustees is knowing how and when to transfer risk to an insurance company.

No matter where you are on your scheme’s journey, we can guide you to the solution which best meets your needs and delivers your members’ benefits with certainty. 

Download our 2022 Risk Transfer Report

How we can help

We can help you understand the risks to your scheme’s funding position and help you prioritise what action to take.

If risk transfer is the right choice for you, then you can be confident that our deep market knowledge will help you obtain the best value from your transaction. 

The ultimate goal for many DB pension schemes is to transfer their risk to an insurance company. Over the next 5-10 years, growth in appetite from DB pension schemes to complete bulk annuity transactions means there will be times when insurers cannot keep pace with pension scheme demand. Rather than sitting tight, we can help you take proactive steps now to capture opportunities in stages. Doing so will also put you in a stronger position for when the time comes to carry out a full buy-out.

In addition to the traditional options of buy-ins, buy-outs and longevity swaps, a number of new risk transfer options have become available to DB pension schemes in recent years. Click here to see a summary of all the options currently available to you. 

Market-leading insurer insight

The buy-in and buy-out market is currently busy with all eight insurers being more selective on transactions. Now, more than ever, understanding the insurance market is key. Hymans Robertson:

  • Has an excellent reputation amongst insurers for running efficient, well managed and well executed transactions.
  • Advises 7 out of 8 insurers and 90% of reinsurers on longevity pricing, investments, reserving and other aspects of their business.
  • Has great insights into insurer mind-set through Michael Abramson's experience in leading the bulk annuity business and large transactions at Prudential and Legal & General
  • We have built strong relationships with senior individuals at each insurer to accelerate signoff on best possible price.

Hymans Robertson's expertise was instrumental in delivering this excellent result for the Fund.

Helen Clatworthy - Chair of the Trustee of the Fund, Imperial Brands, following a £1.8bn buy-in.

During 2021 we have led on buy-ins and buy-outs:

expected to be c.20% of the market

expected to be c.20% of the market

ranging from £50m-£1.8bn in size

ranging from £50m-£1.8bn in size

covering £2bn of deferred member liabilities

covering £2bn of deferred member liabilities

transactions with FTSE100 sponsors

transactions with FTSE100 sponsors

new risk transfer clients

new risk transfer clients

5x larger footprint in the risk transfer market than our DB market share

5x larger footprint in the risk transfer market than our DB market share

welcomed 1,200 attendees at 8 webinars

welcomed 1,200 attendees at 8 webinars

added 6 new team members

added 6 new team members

advised on every risk transfer structure

advised on every risk transfer structure

highly commended Risk Reduction Adviser and Derisking Consultant of the Year

highly commended Risk Reduction Adviser and Derisking Consultant of the Year

Featured Items

Webinars

See all Webinars
Webinars
Overcoming the challenging issues in a buy-in/buy-out transaction
17 Jun 2021
Webinars
Buying your way out of the PPF
26 Apr 2021

Podcasts

See all Podcasts
Podcasts
Risk Transfer - Investment Considerations
29 Oct 2020
Podcasts
Risk Transfer - Stepping inside an insurer
10 Jan 2020

Download our 2022 Risk Transfer Report 

Our sixth annual risk transfer report provides comprehensive analysis of the pensions bulk annuity market. 

Download now

Risk Transfer Transactions

Allied Domecq

The largest ever buy-in to include deferred members

SSE

Converts longevity swap into £750m buy-in

Aviva

Aviva's largest ever buy-in

Aegon

The Aegon Scheme's first buy-in

FTSE 100 pension scheme

Advise on £800 million longevity swap for FTSE100 pension scheme

Marks & Spencer

Advised the scheme sponsor on terms of what was Aviva’s largest ever buy-in at the time.

Imperial Tobacco Pension Fund

Advisors of £1.8bn buy-in with Standard Life.

Selecta (UK) Pension Plan

£250m buy-in with Legal & General.

Canada Life

ICAEW's pension scheme complete £50 million buy-in.

Fortune 500 Company

Sponsored pension scheme secured £150m whole scheme buy-in.

Get in touch

Find a team member

James Mullins

Head of Risk Transfer Solutions

View profile

Richard Wellard

Partner and Risk Transfer Specialist

View profile

Michael Abramson

Partner and Risk Transfer Specialist

View profile

Related Content

Risk Transfer Report 2022

Publications 17 Feb 2022

Risk Transfer - lessons learnt from 2021

Webinars 09 Dec 2021

Myth 4: I’ve done a buy-in so I know what I’m doing

Blogs 25 Nov 2021

Buy-outs, buy-ins and longevity hedging – H1 2021

Publications 08 Oct 2021

What protection does the insurance regime provide for buy-ins?

Webinars 30 Sep 2021

Myth 3: We’ll get a lot of member complaints if we wind up…

Blogs 07 Sep 2021

Myth 2: My data is good quality and buy-out ready

Blogs 15 Jul 2021

Overcoming the challenging issues in a buy-in/buy-out transaction

Webinars 06 Jul 2021
View all risk transfer content

The information contained does not constitute advice and should not be considered a substitute for specific advice.

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