The AMNT, Rothesay Life and LCP have joined forces to explore and understand how the world has changed, following the Coronavirus pandemic.
De-risking can sometimes appear very technical and prescriptive in terms of what's required and how to go about it! This webinar will present an overview of the key issues and address the question - "so what does this mean for me and my scheme?". The market is really dynamic at the moment, with providers constantly shifting their position in the market, trying to attract different types of deals, depending on the assets they want to back them.
This webinar will cover many of the critical factors for Trustees to learn, including:-
a) The vital considerations when de-risking and getting your scheme “buy in ready”
b) The importance of a robust feasibility assessment at the outset
c) Understanding the necessary preparations for engaging insurers
d) How the investment assets held by the scheme play an important part in determining the cost
plus, a host of other vital ingredients for making the journey as easy as possible.
This webinar will look to enhance Trustees basic knowledge of a growing endgame strategy and qualifies for CPD.
If you have any questions you'd like to ask the panel or speakers, then please submit them in advance when registering.
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23rd September 2020 10:00 to 11:00
Speakers
Sammy Cooper-Smith
Head of Business Development, Rothesay Life
Sammy has played a lead role in transactions with the pension funds of Uniq, MNOPF, the Civil Aviation Authority amongst others as well as the reinsurance of the Prudential, Zurich Assurance and Scottish Equitable annuity portfolios. Sammy started his career at Prudential later joining the buy-out start up Paternoster which was acquired by Rothesay Life in 2011.
Myles Pink
Partner, De-Risking Practice, LCP
I advise pension schemes on removing risk through insurance-based solutions: buy-ins, buy-outs and longevity swaps. I work with pension schemes that are at varying stages in their de-risking journey plans to help them determine when it is appropriate to focus on longevity de-risking. I began my time in this market as one of the founding management team at Paternoster in 2006 and transferred to Rothesay Life when it bought Paternoster in 2011. For 8 years I worked on the insurance side of the business structuring and negotiating buy-ins, buy-outs and longevity swaps including some of the first buy-ins (eg the £813m buy-in for P&O in 2007), the £3bn longevity swap for BMW in 2011 and buy-outs for a number of clients including InterContinental Hotels (£440m). Since joining LCP in March 2014, I have advised the Philips Pension Fund Trustees on 4 buy-in transactions, leading to a full buy-out (totalling over £3.5bn) and Total on its £1.6bn collateralised buy-in.
Details of trustee consideration and issues when thinking about buy-out can be found here -
LCP 2020 De-risking report can be downloaded from here
This Webinar will be CPD accredited, certificates will be issued 48 after the webinar.
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