Cross-channel transport company Brittany Ferries has secured its defined benefit pension scheme through a £35m buy-in, insuring 444 members’ benefits.
The transaction made use of bulk annuity preparation and pricing services offered by Just and Broadstone, the lead adviser to the trustee board of the Brittany Ferries Group Pension and Life Assurance Scheme.
The deal was completed in November 2025, according to a press release from Broadstone, and did not require any additional contributions.
Mark Channon, senior actuarial director and deal lead at Broadstone, said the scheme was “excellently prepared”, allowing the deal to be executed “very efficiently”.
He added: “Being able to complete the initial buy-in with no additional contribution is testament to the work done by the trustees and their advisers over many years. We look forward to working with the trustees and Just over the coming months to finalise the policy.”
Alongside Broadstone, the trustee board also received advice from Towergate Employee Benefits, while Osborne Clark provided legal advice.
Steve James, chair of the trustee board, praised the work of the scheme’s advisers “to complete this transaction in a timely manner and at a great price”.
Earlier this month, consultancy firm LCP forecast a record year for bulk annuity volumes of £55bn, aided by strong insurer pipelines and competitive pricing.
