General Insurance Article - AGFA appoints Hymans Robertson as scheme actuary and adviser

The Trustee of the Agfa-Gevaert UK (AGFA) Group Pension Plan has appointed Hymans Robertson, the independent pensions and risk consultancy, as actuarial and investment consultant.

 AGFA, whose largest UK operations are in Leeds and Brentford, develops, produces and distributes analogue and digital imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications. The scheme has approximately £300m of assets and around 1,700 members. 
 James Mullins, partner and scheme actuary at Hymans Robertson, said:
 “Following a competitive tender process we are thrilled to announce that we have been chosen as actuarial and investment consultants to AGFA UK Group Pension Plan Trustee. The key objective was to achieve a clearer and better alignment of funding and investment approaches to the delivery of members’ benefits. We look forward to developing a long and successful relationship with the scheme.”
 The Chair of the Trustee, Tom Clark, commented:
 “Hymans Robertson clearly understood our situation and the long-term objectives of the Plan. They delivered a comprehensive plan on how we could secure the benefits paid to members, without placing unnecessary strain on the company, taking a joined up approach to actuarial and investment issues. We look forward to working with them.”

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