Risk transfer highlights 2021
Our specialist derisking team is delighted to have advised on some of the most significant and complex bulk annuity transactions in 2021
£4.4
Total bulk annuity transactions for 2021
bn
Advised on over
bulk annuity transactions
55
5yrs
in the last
£29
totalling over
bn+
We act for
40
Seven transactions on or above
£100m+
Five transactions on or above
£300m+
We advised on 24%
of the bulk annuity market over the last three years
of the top 200
pension funds in the UK
Source: Pension Funds Online
The biggest annuity deal in the market in 2021 and one of the largest single-transaction full scheme buy-outs ever undertaken
Our biggest bulk annuity transaction
£2.2
bn
Crown Holdings, Sponsor of The Metal Box Pension Scheme, October 2021, Buy-in to Buy-out, PIC
Find out more
Other key transactions of 2021 over £100m on which Sackers advised
£620m
Undisclosed, December 2021, Buy-out
£350m
Air Canada (UK) Pension Trust Fund, December 2021, Buy-in
Ian Cormican
Partner
+44 20 7615 9501
Ralph McClelland
Partner
+44 20 7615 9532
Stuart O’Brien
Partner
+44 20 7615 9539
Tom Jackman
Partner
+44 20 7615 9548
Sackers is the UK’s leading commercial law firm for pension scheme trustees and employers. For further information visit the risk transfer section on our website, or speak to your usual Sackers’ contact or a member of our derisking team:
Download our risk transfer highlights
Reuters Supplementary Scheme, September 2021, L&G, Buy-in
£310m
Undisclosed, February 2021,
Buy-out
£300m
Undisclosed, December 2021, Buy-in
£250m
Signet Group Pension Scheme,
July 2021, Rothesay Life, Buy-in
£236m
We advised Crown Holdings on a full scheme buy-out with residual risks moving to buy-out within one month of buy-in. This transaction included numerous innovative solutions to issues that ordinarily bog down a large scheme buy-out including:
GMP equalisation/
conversion
residual
risks cover
funding structure between the company and pension scheme to manage the realisation of a portfolio of illiquid investments.
We are currently advising trustees on three longevity transactions
James Geer
Associate director
+44 20 7615 9007
Paul Phillips
Partner
+44 20 7615 9523
