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
-
Govt has failed to act on lifetime ISA recommendations – Treasury Committee
-
FCA consults on unlimited contactless card payments
-
Tavistock acquires Lifetime Financial Management
-
Consumer finance new business grows 4% in July – FLA
-
Just Group completes £23m pension buy-in
-
Three quarters of brokers support FCA mortgage review
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
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.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories