BACB
A strong participation rate resulted in 95% of liabilities being medically underwritten.
44 scheme members were approached – and a good participation rate resulted in 95% of liabilities being medically underwritten. A buy-in transaction for a £12m tranche of liabilities was completed under the £60m pension scheme. Partnership won the contract.
“With JLT Employee Benefits advising us, we were able to achieve a competitive price by selecting Partnership Assurance and we are pleased with how streamlined the process was.”
“This new process for completing underwritten buy-in transactions is an important step for schemes looking to de-risk in the most cost-effective way.””
“A common approach to the collection of health and lifestyle information from members will ensure that schemes wishing to de-risk through an underwritten exercise will now have a choice of insurers and can be confident of attaining a competitive price.”
