Marvin OnumonuA UK pension scheme has completed a £18m buy-in transaction with Utmost, fully insuring the benefits of over 270 members.
The transaction was completed in December 2024.
Hymans Robertson acted as lead transaction adviser, working with the Trustee and Company, while Gateley provided legal advice.
This was Utmost’s second bulk annuity transaction since they entered the market in January 2025.
Iain Church, head of core transactions at Hymans Robertson and lead adviser, said: “Successfully transacting with a newer entrant to the market requires extensive due diligence and can be more complex than working with an established insurer.
“However, Utmost’s solution-focused approach, combined with the deep expertise of our risk transfer team—who have advised on early transactions with all the new providers in recent years—ensured a smooth and efficient process.
“We are delighted to have helped our client secure this transaction, delivering long-term security for members while leveraging the growing competition in the market.”
Gary Needham, head of BPA business development at Utmost, said: “This was a great opportunity for us and we are pleased to have been able to complete the buy-in and secure a positive outcome for the Trustee and their members.
“Early engagement with the Trustee and their advisers, along with an ongoing collaborative and transparent approach, enabled all parties to get comfortable with the transaction in a relatively short timeframe.”
