Huntsman Pension Scheme completes £205m buy-in with M&G

Written by Paige Perrin

23/07/2025

The Huntsman Pension Scheme has completed a £205m buy-in with M&G, securing the benefits of over 660 retirees and deferred pensioners in the scheme.

The trustee received advice on the transaction from WTW as risk transfer adviser, Squire Patton Boggs as legal advisers and Mercer as investment consultants. M&G received legal advice from Eversheds Sutherland.

The insuring entity is the Prudential Assurance Company Limited, M&G’s wholly owned subsidiary offering life and pensions solutions.

M&G said a collaborative process from all parties was “critical in reaching this milestone”, with M&G’s premium locked to the scheme’s assets comprising of gilts, and credit, during the process.

Huntsman Pension Scheme chair of the trustees, John Shipman, said the trustee was “delighted” to have partnered with M&G to complete this transaction.

“This buy-in helps to provide greater certainty to members about the security of their benefits and represents a pivotal moment in the scheme’s de-risking journey,” he said.

M&G managing director of corporate risk solutions, Kerrigan Procter, thanked the trustee of the scheme for choosing M&G for the transaction.

Procter said that the transaction sees the Prudential Assurance Company take on the future pension obligations of over 660 retirees and deferred pensioners of the scheme giving them “peace of mind”.

Adding to this, WTW senior director, Gemma Millington, said: “It was a pleasure to work with the trustee, including BESTrustees Ltd represented by Ann Rigby, M&G and the wider advisory teams to achieve this significant transaction for the scheme.

“A collaborative approach from all parties working closely together was key to achieving an attractive outcome for the scheme.”

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