Defined benefit pension scheme de-risking company to launch
Former chairman of The Pensions Regulator David Norgrove is to launch an insurance company called Long Acre Life, which will deliver de-risking solutions to UK defined benefit (DB) pension schemes.
The firm is targeting schemes with liabilities in excess of £500 million, with the aim of delivering cost savings of up to 20% over traditional insurance buy-outs.
Norgrove said: “With the DB market now clearly focused on the end-game, we have developed an approach which delivers the certainty of an insurance buy-in or buy-out for trustees, and a value proposition for sponsors and their shareholders.”
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