Marvin OnumonuRoyal London has completed a £61m bulk purchase annuity (BPA) deal with the Stora Enso UK Group Pension Scheme, covering 758 members.
This was Royal London’s first transaction with Quantum Advisory, which provided actuarial, administration and investment services to the scheme, as well as risk transfer support.
Legal support for the scheme came from Burges Salmon, while Mayer Brown advised Royal London.
Royal London has now insured the benefits of over 6,000 members across 11 external buy-in transactions in 2025.
Moin Patala, BPA origination lead at Royal London, said: “We’re proud to have partnered with the Trustee of the Stora Enso UK Group Pension Scheme to secure the benefits of more than 750 members.
“We’re looking forward to welcoming both the Trustee and their members to Royal London.
“This was also our first transaction with Quantum Advisory and we’re pleased to have built such a strong foundation for future work together.”
Chris Mason, principal consultant at Quantum Advisory, said: “This is a really positive outcome for members, the Trustee and Stora Enso.
“Following a lot of hard work by all advisers, the Scheme was well prepared to approach the market.
“We were very pleased to achieve such a high level of insurer engagement and competitive pricing giving the Trustee a wide range of choice.
“We were impressed by Royal London’s administration offering as well as their post transaction processes and are very pleased to have completed our first transaction with them.”
Gordon Blum, for the trustee, said: “First and foremost, this is an excellent outcome for our members and now means the benefits for all members of the Scheme have been fully secured.
“Stora Enso have generously supported the Scheme for many years and achieving this milestone is testament to this as well as the support we have received from our advisers.
“The competitive process led by Quantum gave us a number of strong options to consider and we are very pleased to have completed this transaction with Royal London.”
James Barr, director at Stora Enso UK Limited, said: “I am delighted that this step has been taken to secure the pension benefits of over 750 current and former employees.
“Stora Enso has proactively supported the Scheme over the last 20 years to ensure this was possible, and we are grateful to the sterling work carried out by the Trustee, and advisers, during the same period to get this over the line.”
