We are delighted to have supported the Trustees of the Coats UK Pension Scheme on its £1.3bn buy-in with Pension Insurance Corporation (PIC). Our advice helped the Trustees evaluate the financial strength and ESG implications of transacting with its selected insurer counterparty.

This latest transaction sees all of the Scheme’s benefits secured with regulated insurance companies, having previously competed a c£350m partial buy-in with Aviva back in 2022, which Cardano also advised on.

So far this year, we have advised on c£6.5bn of completed bulk purchase annuity transactions, representing broadly over 40% (by £ premiums) of the BPA transactions that have been publicly announced.

Most recently, we advised the Trustees of the Rolls-Royce & Bentley Pension Fund which announced a buy-in deal of £880m with Standard Life and the Trustees of the TotalEnergies UK Pension Plan on its £1.2bn buy-in with PIC.

• Pension Schemes
• Pension Trustees