General Insurance Article - Towers Watson wins UK Power Networks actuarial mandate

 Neil Wearing, senior consultant at Towers Watson, said:

 “We are delighted that the UK Power Networks Group Trustee has chosen Towers Watson to be its actuarial advisor. This appointment is particularly pleasing as it consolidates our presence in the energy sector where we have significant experience of dealing with challenges posed by large and complex mature schemes with a regulated sponsor, like the Electricity Supply Pension Scheme.”

 Michele Hirons-Wood, head of pensions at UK Power Networks, said:

 “We are pleased to announce the appointment of Towers Watson as the actuarial advisor to our ESPS Group. The Group Trustee, having conducted a robust process, decided the approach offered by Towers Watson was the best suited to the Scheme’s needs at this time. The Group Trustee felt that Towers Watson clearly demonstrated the expertise required to manage a large and mature pension fund such as ours. As a result, we are confident that the right team is in place to deliver our funding goals in the best interests of all our members and stakeholders.”

 The Scheme Actuary appointment will be held by Neil Wearing and took effect on 1 May 2015.