The transactions cover members of a chemical company and a printer manufacturer.
One transaction, completed last month, covered 438 members of the Lucite International UK Pension Fund.
The £130m buy-in means all the scheme’s liabilities are now covered by insurance contracts.
Kevin Leith, chair of trustees, said: “This was a truly collaborative process with all stakeholders working closely to complete the deal. WTW led a thorough and competitive selection process, following which we chose Just as our preferred partner.
“We were impressed by Just’s commitment to member experience and its ability to tailor its proposition to meet our needs.”
Greg Robertson, director in WTW’s transactions team, added that there were “a number of benefit complexities” that the parties worked closely together to solve.
“Despite these complexities, the trustee was able to navigate a busy market and obtain multiple quotations by presenting a clear strategy that maximised engagement,” Robertson said.
The second deal, worth £60m, was completed in February. It covered more than 400 members of the Epson (UK) Limited Pension Scheme.
Ethaniel Kelly-Wilson, head of HR operations for Epson Europe, said: “The completion of the buy-in reflects a collaborative working relationship between Epson and the trustee. Over a period of many years, we have built a strategy to de-risk our scheme and get us to a place where a transaction was achievable, and we have managed to achieve this well ahead of schedule.”
Just Group has been active in small scheme transactions this year after a particularly busy 2023. It reported that its total transaction value last year was £3.4bn, up by 21% on the previous year. The insurer completed 80 deals in 2023, which it said was more than one in three of all deals completed in the market last year.
