Hymans Robertson, the leading pensions and financial services consultancy, has promoted Kieran Mistry to head of non-traditional risk transfer. In this new role Kieran will lead the firm’s advisory service supporting DB pension scheme trustees and sponsors considering new and emerging risk transfer options, including superfunds, capital backed solutions and alternative insurance products.
Since joining Hymans in 2014, Mistry has advised pension funds ranging in size from under £10m to over £5bn on their risk transfer and endgame strategies. In recent years, he has supported schemes considering emerging solutions, including early superfund candidates.
Hymans partner and head of risk transfer James Mullins says: “Non-traditional risk transfer options have an important role to play in helping to reduce risk for pension schemes that cannot afford full buy-out. Kieran brings extensive skills and experience, as well as a lot of enthusiasm, to the leadership of this area. By establishing a specific team to help our clients in the new and emerging risk transfer options we’ll be able to help them fully benefit from the innovation in this part of the market.”
Mistry says: “We’ve seen rapid growth in the number of risk transfer options available over recent years. Capital providers continue to look for new ways to support schemes other than through traditional solutions such as buy-ins, buy-outs and longevity swaps. While superfunds are grabbing much of the headlines, other areas are quietly gaining traction with some getting first transactions over the line in 2020, and many more being developed.
“This innovation is certainly timely, adding valuable tools to help trustees and sponsors looking to manage risk against an historically tough economic backdrop.”