George Hammond derisks scheme after buyout price fall

clock

Trustees of the George Hammond Retirement Benefits Plan have completed a £19m buyout of the scheme following a significant fall in the cost of insurance policies.

The deal was concluded with Pension Insurance Corporation and marks the end of a long-running risk reduction strategy by the trustees of the privately owned shipping group's scheme. PIC said pre...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on DB Buyouts

Partner Insight: How does 'Active' run-on benefit pension scheme members?

Partner Insight: How does 'Active' run-on benefit pension scheme members?

Gerard McKenna, Senior Consultant, Aon
clock 14 March 2024 • 5 min read
K3 Advisory completes £53m buyout with unnamed scheme

K3 Advisory completes £53m buyout with unnamed scheme

Deal covers benefits of 235 pensioners 163 deferred members

Jasmine Urquhart
clock 16 February 2023 • 1 min read

Solvency II drives record buy-in and buyout volumes in Q4

The bulk annuity market had a record final quarter in 2015 as buy-in and buyout deals totalled £5.4bn, according to LCP.

Kristian Brunt-Seymour
clock 17 March 2016 • 2 min read
Trustpilot