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Risk Transfer

James Mullins

Key Contact

James Mullins, Head of risk transfer solutions

View profile

One of the biggest concerns for scheme trustees is knowing how and when to transfer risk to an insurance company.

No matter where you are on your scheme’s journey, we can guide you to the solution which best meets your needs and delivers your members’ benefits with certainty. 

How we can help

At Hymans Robertson we can help you understand the risks to your scheme’s funding position and help you prioritise what action to take.

If risk transfer is the right choice for you, then you can be confident that our deep market knowledge will help you obtain the best value from your transaction. 

The ultimate goal for many DB pension schemes is to transfer their risk to an insurance company. Over the next 5-10 years, growth in appetite from DB pension schemes to complete bulk annuity transactions means there will be times when insurers cannot keep pace with pension scheme demand. Rather than sitting tight, we can help you take proactive steps now to capture opportunities in stages. Doing so will also put you in a stronger position for when the time comes to carry out a full buy-out.

Read our 2020 Risk Transfer Report

In addition to the traditional options of buy-ins, buy-outs and longevity swaps, a number of new risk transfer options have become available to DB pension schemes in recent years. Click here to see a summary of all the options currently available to you. 

Summary of Risk Transfer solutions

Market-leading insurer insight

The buy-in and buy-out market is currently busy with all eight insurers being more selective on transactions. Now, more than ever, understanding the insurance market is key. Hymans Robertson:

  • has an excellent reputation amongst insurers for running efficient, well managed and well executed transactions.
  • advises 7 out of 8 insurers and 90% of reinsurers on longevity pricing, investments, reserving and other aspects of their business.
  • has great insights into insurer mind-set through Michael Abramson's experience in leading the bulk annuity business and large transactions at Prudential and Legal & General
  • We have built strong relationships with senior individuals at each insurer to accelerate signoff on best possible price.

Click here to view larger image.

Recent risk transfer transactions

Allied Domecq

The largest ever buy-in to include deferred members

SSE

Converts longevity swap into £750m buy-in

Aviva

Aviva's largest ever buy-in

Aegon

The Aegon Scheme's first buy-in

FTSE 100 pension scheme

Advise on £800 million longevity swap for FTSE100 pension scheme

Marks & Spencer

Advised the scheme sponsor on terms of what was Aviva’s largest ever buy-in at the time.

2020 Risk Transfer Report

In-depth analysis of the risk transfer market

Our annual risk transfer report tracks the recent key changes in the pension risk transfer market, with a particular focus on bulk annuities, and looks  at what these could mean for your DB pensions scheme.

Access the report

Risk Transfer Podcast

Join our hosts James Mullins and Michael Abramson as they dive into the different aspects of the risk transfer market. They share insights into the process insurers go through when asked to quote for a transaction and how to prepare your data so you can get your scheme in the best position before approaching insurance companies for quotes. 

Listen now

A great outcome

The Trustee is delighted to have taken another important step to materially reduce risk for its members. Hymans Robertson used their significant experience of the buy-in market to expertly guide us through this second buy-in; enabling us to insure a large proportion of our pensioner liabilities at a particularly attractive price – a great outcome for everyone associated with the Fund.

Andrew Evans

Chair of FCA Ltd, trustee of The Institute of Chartered Accountants Staff Pensions Fund

To see all our latest risk transfer content please visit our content hub.

Visit Risk Transfer content hub

Meet our Risk Transfer team

Find a team member

James Mullins

Head of risk transfer solutions

View profile

Richard Wellard

Partner and Risk Transfer Specialist

View profile

Michael Abramson

Partner and Risk Transfer Specialist

View profile

Related Content

Buy-in monitoring service – December 2020

Publications 17 Dec 2020

Buy-ins and buy-outs: de-risking or re-risking?

Publications 30 Oct 2020

Buy-outs, buy-ins & longevity hedging - H1 2020

Publications 07 Oct 2020

IAS19 Assumptions Report 2020

Publications 11 Aug 2020

Buy-in monitoring service – August 2020

Publications 10 Aug 2020

What does COVID-19 mean for bulk annuity insurers’ portfolios?

Publications 26 May 2020

COVID-19 impact on responsible investment and climate risk

Publications 06 Aug 2020

Future demand outlook for the bulk annuity market

Publications 23 Apr 2020

Risk Transfer Report 2020

Publications 30 Jan 2020

Buy-outs, buy-ins and longevity hedging - H2 2019

Publications 14 Apr 2020

COVID-19: considerations for pension scheme risk transfer

Publications 24 Mar 2020

Leyland Bus Pension Scheme

Case studies 24 Feb 2020

The information contained does not constitute advice and should not be considered a substitute for specific advice.

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