Canada Life secures £30m buy-in with Andrew Sykes pension scheme

Written by Jack Gray

02/10/2023

Canada Life has completed a £30m buy-in with the Andrew Sykes Group Pension Scheme, insuring the benefits of around 440 members, including 160 deferred members.

This is the third deferred member transaction Canada Life has completed, with the insurer selected following a competitive tender process run by Hymans Robertson.

Neon Legal provided the scheme trustees with legal advice, while Canada Life received legal advice from its in-house legal team.

Canada Life managing director, bulk purchase annuities, Tim Coulson, noted that the firm completing its third deferred member transaction in three months “shows how busy the buyout market is”.

“We will continue to focus on delivering fair value to trustees and their scheme members, developing our proposition to compete in wider opportunities in a rapidly growing market,” he added.

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