Utmost Life and Pensions, one of the newest entrants to the UK bulk annuity sector, completed four separate full-scheme buy-ins in the first half of 2025, it announced today.
In total, the transactions have insured the benefits of 1,127 pensioners and dependants, as well as 1,365 deferred members, for a total of £177m.
It follows the insurer’s first two transactions, completed at the end of last year, including a £20m buy-in with an unnamed pension scheme announced in November.
PwC and Isio were lead brokers on two of the transactions, with CMS advising Utmost’s legal team. Other details were not provided.
Gary Needham, head of bulk annuity business development at Utmost Life and Pensions, said: “These transactions demonstrate the strength of our proposition in the pension derisking market. We continue to see strong demand from schemes looking to secure their members’ benefits and Utmost offers a new and attractive choice.
“We are delighted to have had the opportunity to work with the trustees and their advisers to successfully complete these buy-ins and secure positive outcomes for their members.”
Streamlined processes, attractive pricing and increased market capacity have all helped improve access to the bulk annuity market for some of the smallest defined benefit pension schemes. Deals completed this year include:
