Utmost Life and Pensions confirms entry into BPA market

Written by Adam Cadle

09/01/2025

Utmost Life and Pensions has confirmed its successful entry into the bulk purchase annuity (BPA) market.

The company, building on its existing annuity business, has established a strong and credible offering to address the significant demand for pension risk transfer in the UK. With the BPA market projected to generate over £400bn in volumes over the next decade, Utmost Life and Pensions offers a new and attractive choice for pension schemes to secure their members’ benefits.

The next phase of Utmost Life and Pensions’ strategy is being led by CEO, Andrew Stoker, who has been appointed following the retirement of Stephen Shone. Stoker is a qualified actuary with extensive financial services experience. He was most recently the CFO at Rothesay, a position he held for nine years.

Utmost Life and Pensions has established a strong pipeline for 2025 and is confident it can deliver on its growth ambitions which incorporate a target market share of over 5% within five years. To support this growth and deliver high quality client and customer service, Utmost Life and Pensions has, in addition to the team of over 20 experts, developed partnerships with Schroders and Mantle Services. These strengthened capabilities enable Utmost Life and Pensions to provide an efficient onboarding process, in-house client administration, market leading asset management, and seamless migration from buy-in to buy out.

Andrew Stoker, CEO, Utmost Life and Pensions, said: "Since joining Utmost, I have been impressed by the calibre of the team and its strong ethos of customer service. Utmost Life and Pensions now has a strong platform for competing in the BPA market and we are building a compelling proposition for pension scheme trustees and members. I am excited by the opportunity to lead the next phase of Utmost’s BPA strategy."

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