Corporate Adviser
  • Content Hubs
  • Magazine
  • Alerts
  • Events
  • Video
    • Master Trust Conference 2024 videos
  • Research & Guides
  • About
  • Contact
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG
No Result
View All Result
Corporate Adviser
No Result
View All Result

Rothesay completes £1.4bn Rexam Pension Plan buy-in

by Muna Abdi
January 26, 2024
Business-Handshake-Meeting-Deal-Low-Angular-700x450.jpg
Share on FacebookShare on TwitterShare on LinkedInShare on Pinterest

Rothesay has completed a £1.4bn full scheme buy-in with the Rexam Pension Plan.

The Scheme is sponsored by Ball Corporation, a company that offers environmentally friendly aluminium packaging solutions for household, personal care, and beverage items.

The deal secures benefits for nearly 14,000 members of the scheme, including 4,330 delayed members and 9,790 pensioners and dependents.

It involves an insurance policy with a single premium that covers residual risks; the sponsor is not required to make any contributions.

The scheme’s financial advisers were LCP; the lead broker was Aon; WTW handled project management and actuarial advice; and Eversheds Sutherland and Sackers handled Rothesay and the Scheme’s legal matters, respectively.

A&O provided the Company with legal counsel. The buy-in was a component of Rothesay’s 2023 de-risking support for 12 pension plans, which added to the year’s total new business premiums of £12.7 billion.

Rothesay business development Cleo Taylor Smith says: “From our first meeting with the Scheme and Sponsor it was clear that there was a strong cultural fit between our organisations and we are delighted to have worked so collaboratively together to secure the future for over 14,000 members. It has been a pleasure to work with the Trustee to reach such a successful outcome.

“Last year was one of Rothesay’s busiest ever, with £12.7bn marking the second largest volume of annual new business we’ve ever completed. 2024 is looking equally, if not more, exciting with a currently unprecedented pipeline. Rothesay’s strong capital position and proven capability to execute large and complex transactions, like for the Rexam Pension Plan, mean that we are very well-placed to meet this opportunity.”

VIDEO

Corporate Adviser Special Report

REQUEST YOUR COPY

Most Popular

  • Ros Altmann: Link tax relief to higher allocations to UK investments

  • Govt set to delay announcement of ‘Mansion House Accord’

  • Barnett Waddingham connects first client to dashboard

  • TPT first provider to confirm CDC plans

  • Aviva appoints Noon as Master Trust chair

  • Aegon introduces biometric technology for customer ID checks

Corporate Adviser

© 2017-2024 Definite Article Media Limited. Design by 71 Media Limited.

  • About
  • Advertise
  • Privacy policy
  • T&Cs
  • Contact

Follow Us

X
No Result
View All Result
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG

No Result
View All Result
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.