Four unnamed defined benefit (DB) pension schemes have completed buy-in transactions with Utmost Life and Pensions so far this year, with a combined total value of £117m.

These transactions secured the benefits of 1,127 pensioners and 1,365 deferred members.

PwC and Isio each acted as lead brokers on two transactions, while Utmost Life and Pensions’ in-house legal team was supported by CMS UK.

These deals follow Utmost Life and Pensions’ entry into the bulk purchase annuity (BPA) market with the completion of two transactions at the end of 2024 and will enable the company to continue on its growth trajectory.

Utmost Life and Pensions head of BPA business development, Gary Needham, said: “These transactions demonstrate the strength of our proposition in the pension de-risking market.

“We continue to see strong demand from schemes looking to secure their members’ benefits and Utmost offers a new and attractive choice."

Needham added that Utmost Life and Pensions are “delighted” to have had the opportunity to work with the trustees and their advisers to “successfully” complete these buy-ins and secure positive outcomes for their members.

---