Rothesay has completed a £260m buy-in transaction with the Smith & Nephew UK Pension Fund.
The transaction completes the fund’s objective of insuring all its members’ benefits with Rothesay, following previous buy-in transactions in 2013, 2017 and most recently last year.
Smith & Nephew UK, a portfolio medical technology company, sponsors the fund and the latest transaction secures the benefits for all remaining uninsured members of the fund with Rothesay, which includes 1,885 pensioners and dependants, and 2,315 deferred members.
LCP acted for the trustee as the lead broker on the transaction, with Eversheds Sutherland and DLA Piper providing legal advice to Rothesay, and Travers Smith providing legal advice to the trustee.
“We are very happy to have helped the Smith & Nephew UK Pension Fund complete its de-risking journey, securing the benefits of all its members,” commented business development at Rothesay, Katie Overton.
Latest News
-
Monzo fined £21.1m for financial crime control failings
-
PWM acquires Navigate Capital Management
-
FTB mortgage applications jump 12% on last year
-
House price growth remains flat month-on-month – Halifax
-
£275m in collapsed property transactions help stimulate bridging market
-
Cash ISAs boom in popularity over last year
Is 2025 the year of the remortgage?
An estimated 1.8 million fixed rate mortgage deals are due to expire in 2025, 400,000 more than in 2024. This surge in remortgaging presents a critical opportunity for mortgage brokers to offer essential advice and financial support to homeowners across the UK, ensuring they transition smoothly to new deals amid stabilising interest rates and heightened affordability checks.
The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.
The UK housing market in 2024
The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories