Rothesay secures £160m full scheme buy-in for Repsol Sinopec

Written by Adam Cadle

02/05/2023

Rothesay has completed a £160m full scheme buy-in with the Repsol Sinopec Pension and Life Scheme.

The scheme is sponsored by Repsol Sinopec Resources UK Limited, an oil and gas
exploration and production company operating in the North Sea. The transaction secures the benefits for all members of the scheme which includes defined benefit liabilities for 141 pensioners and dependants and a further 306 deferred members.

Róisín O’Shea, business development at Rothesay, said: “We are delighted to protect nearly
450 members’ pensions through this transaction, and thoroughly enjoyed working with the
scheme and its advisers in completing this buy-in under an accelerated timeline.

"The continued buoyancy in the bulk annuity market has resulted in more schemes than ever
pursuing insurance solutions. Rothesay’s capital strength and dedicated pricing team mean we
are able to respond to these opportunities dynamically and at speed, helping schemes to secure the long-term future for their members.”

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