Royal London has insured the defined benefit pension scheme for insulation manufacturer Rockwool through a £53m buy-in.
Independent Governance Group (IGG) provided professional corporate sole trustee services for the pension scheme, while Isio was the lead adviser.
Amanda Asante, professional trustee at IGG, said: “This transaction demonstrates what can be achieved through effective collaboration.
“It’s reassuring to see a secure outcome delivered for our members, thanks to the combined efforts of Isio, Rockwool, Royal London and Eversheds. The dedication from all parties ensured a smooth and efficient outcome for the scheme.”
Royal London entered the bulk annuity market last year when it insured two of its own pension schemes in the first quarter of 2024.
It followed these with two buy-ins in September worth a combined £130m, and a £102m buy-in for the Tennants Consolidated Limited Pension Scheme in December.
