Adam Davis, Managing Director at K3, commented: “Since launching in 2019 we have made a real and tangible difference to the outcome of many UK pension funds and their members. We ended 2022 having completed 20 bulk annuity transactions for sub 100 million schemes and will soon reach £1billion in transactions in this small scheme space. Clearly demonstrating that we know how best to bring together insurers and small schemes in a way that works for everyone; seizing opportunities as they arise and transacting quickly. Already in 2023 we have completed 10 transactions, with another four about to complete in the coming weeks. We estimate we will complete over 30 transactions before the year end.”
Davis added: “It’s an exciting time to be working in the bulk annuity market, and to meet our exponential growth we will continue to appoint expert individuals to help our clients through their derisking journey. Dan will support me in delivering a portfolio of bulk annuity transactions as well as developing and maintaining our actuarial models, including our innovative Small Scheme Index.”
Dan Allanson commented: “K3 is a true innovator and leader in the bulk annuity space, what they have achieved since coming to market is truly remarkable. I am looking forward to working with such a driven, positive, ambitious firm where we can make a real difference to a scheme’s outcome and, more importantly, members.”
Dan was previously Lead Associate and Actuarial Consultant at WTW.
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