Batt Cables pension scheme secures £34m buy-in with Just

Written by Adam Cadle

27/04/2023

The pension scheme sponsored by Batt Cables has completed a £34m buy-in with Just Group, covering 193 deferred members and 71 pensioners.

The deal between the insurer and the cable supplier and distribution company was completed in December 2022.

It was structured to enable full de-risking upfront, with part of the premium deferred to provide required flexibility to the sponsor.

Bulk annuity and consolidator advisory business K3 Advisory, in partnership with actuary and consultant Cartwright, supported the trustees in completing the deal.

Just Group head of DB sales, Pete Jennings, said the insurer was pleased to have secured the benefits of scheme members, and to have met the needs of both the trustees and scheme sponsor.

“This transaction took place during a very busy year-end period and shows that while the market is vibrant Just remain open to schemes of all sizes,” he continued.

“It’s been great to work with K3 and Cartwright and we’re looking forward to continuing to work with the trustees during the onboarding phase.”

There are no related documents to show at this time.

Portfolio optimisation in today’s challenging market environment

Adam Cadle speaks to Dr Laura Ryan, Head of Research at Ardea Investment Management, about the firm’s insurance asset allocation optimisation tool and the reasons for developing it

The role ETFs can play in the ESG journey for insurers

Justin Wheeler, Head of UK iShares Asset Owner Distribution at BlackRock, and Mark Guirey, Head of EMEA Insurance Segment and UK Asset Owner Client Coverage at MSCI, discuss the drivers behind growth in this area, market reactions to COVID-19, and the role of indexing