Thu 14 Sep 2023 - Scheme funding levels have risen dramatically for many schemes in 2022-23. And yet finishing the journey while managing the risk of losses on that journey is highly desirable, but may be difficult to achieve in practice.
While an insurance buyout may not be desired or possible, and a low dependency strategy is difficult to maintain in practice, there remains a risk that benefits will not be secured in full, which with hindsight could have been avoided.
A diverse set of arrangements has been developed by a number of providers that draw on external capital to aid trustees and corporates to meet scheme funding ambitions. This is a new development in the market. In this paper, we survey the role and key features of these arrangements and set out a framework for how their value might be assessed.
Registration: 17.00 to 17.30
Event: 17.30 to 18.30
Networking: 18.30 to 19.30
Capital backed funding arrangements (654 KB PDF)
Chair
Clarence Er is a Director in the life and alternative credit team at Leadenhall Capital Partners, an asset management company that provides investors access to insurance linked strategies. He is a life actuary with 13 years of experience across industry and consulting. He has supported a number of life insurers with various aspect of private assets investments ranging from internal ratings, restructuring, as well as risk and capital management. Clarence is currently the Deputy Chair of the IFoA’s Life Board and the Chair of the Finance and Investment Research Sub-Committee.
Hymans Robertson
Iain is a Partner at Hymans Robertson and head of Alternative Risk Transfer. He advises trustees and sponsors on the full range of endgame options.
Barnett Waddingham
David is a Partner and Senior Investment Consultant at Barnett Waddingham. David specialises in ‘end game’ options and solutions and is part of BW’s Alternative Risk Transfer group.
Claire is a partner at Sackers, a law firm for the pensions and retirement savings industry. She has 19 years’ experience advising pension schemes and is a member of the firm’s risk transfer team.
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