Textiles manufacturer Heimbach has insured a UK defined benefit pension scheme for £11m with Just Group.
The Germany-headquartered company is the sponsor of the CH Johnson Pension Plan. The buy-in contract insures the benefits of 147 scheme members.
Isio was the lead broker for the deal, while Gateley and Travers Smith provided legal advice.
Phil Burgess, chair of trustees of the CH Johnson Pension Plan, said Isio’s work on insurer covenant had helped the scheme move quickly to secure the buy-in amid a company restructure.
“Against the backdrop of recent corporate change, securing this buy-in provides vital reassurance to our members that their benefits are backed by an insurer for the long term,” Burgess added.
Isio senior manager Tom Ridley said: “This was a highly collaborative transaction, with all parties aligned on the importance of providing certainty and security for members following the company restructure announcements.”
Rothesay insures Stahl scheme for £8.4m
Meanwhile, industrial firm Stahl has also secured a buy-in, insuring its Stahl UK Limited Retirement Benefits Scheme with Rothesay for £8.4m.
The deal covers 61 members. Quantum Advisory was the lead transaction adviser, while Pinsent Masons provided legal advice to the trustee board.
Robert Palmer, partner at Quantum Advisory, said: “This transaction demonstrates that smaller schemes can successfully access leading insurers when the right preparation and strategy are in place.
“There is growing interest from schemes looking to secure member benefits and we are seeing strong appetite from insurers to support well-prepared opportunities across a range of sizes.”
Simon Bramwell, part of the business development team at Rothesay, said: “Smaller schemes are increasingly well-prepared when entering the market and this transaction demonstrates how strong collaboration between all parties can deliver a smooth and efficient outcome for their trustees and members.”
Pinsent Mason’s independent trustee subsidiary, Trustee Solutions, was also involved with the scheme with Tristan Mander acting as an independent trustee.
