Royal London announces £46M buy-in with the Fujifilm UK Limited Pension and Life Assurance Scheme

• £46 million buy-in transaction secures the benefits of 484 members
• Royal London and Trustees’ partnership reflects a shared focus on delivering sustainable long-term outcomes for pension scheme members

Royal London, the UK’s largest customer-owned life, pensions and investment provider, has completed a £46 million bulk purchase annuity (BPA) transaction with the Trustees of the Fujifilm UK Limited Pension and Life Assurance Scheme.

The buy-in secures the benefits of 484 members of the Scheme, with Marsh and CMS acting as advisers to the Trustees.

Alongside securing members’ benefits, the process placed particular emphasis on the quality of service and support members will receive, with Royal London developing a solution tailored to the pension scheme’s requirements.

Beatrice Male, BPA Origination Lead at Royal London, said:

“It’s been a pleasure working with the Trustees of the Fujifilm UK Limited Pension and Life Assurance Scheme and their advisers.

“From the outset, there has been a strong shared commitment to delivering excellent outcomes for members and providing a high-quality experience. It was particularly pleasing to see the confidence the trustees already had in Royal London through previous experiences with our wider business. We look forward to welcoming the pension scheme’s members to Royal London and supporting them for many years to come.”

Kevin Boyle, Risk Transfer Adviser at Marsh People and investments, commented:

“This major milestone will provide cost certainty for the Sponsor and long-term security for the members. The Trustees and Sponsor's detailed preparation led to a smooth competitive process with thorough consideration of insurer proposals to achieve the best possible outcome for members.

“This transaction underscores the opportunities available to schemes of this size, and Marsh's ability to guide sponsors and trustees through a competitive process to deliver genuine value via our tried and tested streamlined process.”

Duncan Edgar, Chair of the Trustees, added:

“The Trustees and Sponsor were fully engaged throughout the competitive process, and we were impressed by the quality of proposals and the collaborative approach of all parties involved. The detailed preparation undertaken by the Scheme, together with the expert guidance from our advisers at Marsh and CMS, was crucial in achieving this successful outcome.

“We would like to thank Fujifilm UK Limited, Aptia UK Ltd, our administrators, and Royal London for their support and commitment to securing the best possible result for members."