![]() |
Pension Insurance Corporation plc (“PIC”), a specialist insurer of defined benefit pension schemes, has concluded a £24 million full buy-in of the Holophane Retirement Benefits Scheme (“the Scheme”), sponsored by Holophane Europe Limited. The buy-in covers the pension benefits of 95 pensioners and dependents, and 74 deferred Scheme members. |
Headquartered in Milton Keynes, Buckinghamshire, and founded over 125 years ago, Holophane Europe Limited enjoys a global reputation for expertise, quality and innovation in interior, exterior, amenity, road, rail and ?ood lighting. Payam Kazemian, on behalf of ZEDRA Governance Limited, the Chair of Trustees, said: “The completion of this buy-in marks a significant milestone in the strategic de-risking journey of the Scheme and delivering financial security for members. It was great to work collaboratively with the Company, our advisers, and PIC to achieve this outcome. The advantage of PIC offering a whole of market solution means that this smaller sized transaction nonetheless brings long-term security to the Scheme members’ benefits.” Jake Stanbridge, Origination Actuary at PIC, said: We are delighted to have supported the Scheme and the Company in securing this buy-in for all of the Scheme’s members. This deal demonstrates PIC’s ability to help trustees of schemes of all sizes secure their members’ benefits for the long term. By working exclusively with the Scheme we were able to deliver a solution tailored to their needs. The scheme’s advisors ran an effective process, and were a pleasure to work alongside.” Adolfo Aponte, Managing Director, Cardano, a business of Marsh McLennan, said: “It’s been a pleasure to advise on this transaction, supporting the Trustees in achieving a positive outcome for members. Thorough preparation and the right market approach strategy facilitated this trade on attractive terms, even for a small scheme.”
Cardano acted as lead transaction adviser to the Trustees. The Scheme received legal advice from Eversheds Sutherland, actuarial advice from Mercer and investment advice from both Cardano and Mercer. PIC received legal advice from CMS. |
|
|
|
Capital excellence in the capital - S... | ||
London - Negotiable |
Life Reinsurance Associate - Bermuda | ||
Bermuda - Negotiable |
Life Reinsurance Director - Bermuda | ||
Bermuda - Negotiable |
Scotland - the price is right! | ||
Scotland / hybrid 2-3 dpw office-based - Negotiable |
Projects Actuary | ||
South East / hybrid 1-2 dpm office-based - Negotiable |
Technical Business Analyst - Internat... | ||
Bermuda - Negotiable |
Senior Pensions Manager - Assurance | ||
Flexible / hybrid 2-3 days p/w office-based - Negotiable |
Head of Pricing | ||
London - Negotiable |
Consultancy Bonanza! | ||
UK-wide / London / hybrid - Negotiable |
Service Delivery Manager - Pensions | ||
Scotland / remote / 2 dpm in the office - Negotiable |
Life Actuarial Student – Risk | ||
Glasgow / hybrid 2 dpw office-based - Negotiable |
ALM Strategy Specialist | ||
Bermuda - Negotiable |
Senior Casualty Reinsurance Actuary | ||
London - £140,000 Per Annum |
Senior Pensions Administrator - Midlands | ||
Birmingham / hybrid - Negotiable |
Senior Pensions Administrator - Scotland | ||
Scotland / hybrid 2 days per month office-based - Negotiable |
Investment Analyst | ||
South East / hybrid - Negotiable |
International Capital Management Actuary | ||
Bermuda - Negotiable |
VP Reserving Actuary | ||
London - £150,000 Per Annum |
Calling all BPA analysts! | ||
North West / hybrid 50/50 - Negotiable |
Financial Planning & Analysis Actuary | ||
London/Hybrid - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.