2025 saw buy-in volumes fall but total numbers 'surge'

Hymans said overall volumes dropped by more than 20% but numbers set a new record

Holly Roach
clock • 2 min read
Hymans partner and risk transfer specialist Michael Abramson
Image:

Hymans partner and risk transfer specialist Michael Abramson

Buy-in volumes fell in 2025, but the overall number of deals increased – particularly among smaller schemes – as the market continues to shift, Hymans Robertson finds.

A report from the consultancy revealed buy-in volumes ended last year at £38.2bn, a drop of more than 20% compared to the £47.8bn figure in 2024. Breakdown of bulk annuity transactions since 202...

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