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Brookfield Wealth Solutions has announced that it is entering the UK bulk annuity market to provide buy-in insurance solutions to defined benefit pension schemes under the Blumont Annuity UK brand, with operations expected to begin later in March following final regulatory approvals. |
Blumont will be the fourth new entrant insurer in 18 months after M&G, Royal London and Utmost. Blumont Annuity Company UK Limited is a brand-new insurance company, whereas the other new entrant insurers are offering bulk annuities through existing insurance companies. The chart below shows the history of new entrants and exits. Charlie Finch, Partner at LCP, commented: “Brookfield’s entry to the UK buy-in market is welcome news for schemes looking to insure some or all of their pension liabilities as part of their long-term strategy. Trading as Blumont, they will be the fourth new entrant insurer to the market in 18 months when they launch their operations later this month, taking the market to a record 11 insurers quoting for business. They will also be the first new bulk annuity insurer to be authorised since Rothesay in 2007.”
“We expect Blumont to have deep capacity, building on their track record in the US and Canadian markets, with significant capital to deploy. This will bring additional competition to the UK marketplace and help to continue the favourable buy-in pricing our clients have benefited from over H2 2024 and 2025 to date.” |
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| DC Pensions Advisory Consultant | ||
| London or Manchester / Hybrid working - Negotiable | ||
| Senior Pensions Data Technician - Ful... | ||
| Fully remote - Negotiable | ||
| Chief Actuary | ||
| London - Negotiable | ||
| Senior GI Pricing Analyst | ||
| London/flex - 2dpw in the office - Negotiable | ||
| Retail pricing role model | ||
| London/flex - 2dpw office-based - Negotiable | ||
| Tech-led actuarial pricing | ||
| London/flex - 2dpw in the office - Negotiable | ||
| GI Pricing (Assistant) Manager - Nati... | ||
| UK-wide / hybrid 2 dpw office-based - Negotiable | ||
| GI Pricing Manager | ||
| South East / hybrid 2 dpw in the office - Negotiable | ||
| Shape the future of GI pricing | ||
| South East / hybrid 2dpm office-based - Negotiable | ||
| Scheme Actuary - full remote working | ||
| Fully remote with hybrid options - Negotiable | ||
| Capital Actuary | ||
| London - £140,000 Per Annum | ||
| Technical Pricing Manager - Non-life | ||
| Hybrid / remote - Negotiable | ||
| P&C Risk Actuary | ||
| London / hybrid 1-2 dpw office-based - Negotiable | ||
| CONTRACT: GI Provisioning in the Publ... | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Life Leadership - Balance Sheet & ALM | ||
| London/Midlands/Scotland, hybrid - Negotiable | ||
| Transaction and Modelling Leadership | ||
| London/Midlands/Scotland, hybrid - Negotiable | ||
| Head of Business Development | ||
| London / hybrid 2 days p/w office-based - Negotiable | ||
| Technical Pensions Actuary | ||
| Remote - Negotiable | ||
| Senior Portfolio Manager | ||
| London - £130,000 Per Annum | ||
| BPA Origination Manager | ||
| London/hybrid 2-3dpw office-based - Negotiable | ||
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