I advise pension schemes on removing risk through insurance-based solutions: buy-ins, buy-outs and longevity swaps.
I work with pension schemes that are at varying stages in their de-risking journey plans to help them determine when it is appropriate to focus on longevity de-risking.
LCP helps clients in this strategic planning using a new tool we have developed for measuring longevity risk more robustly, called LCP LifeAnalytics. By combining the output from this measuring tool with a measure of the other risks that the pension scheme is carrying, we can advise on the value-for-money and affordability of different de-risking solutions.
Once we have determined when it is appropriate to remove longevity risk, by what means it is most efficient and at what price, we leverage our extensive transaction experience and strong relationships with the insurers that provide these solutions, to advise our clients on obtaining the best price and terms available.
I began my time in this market as one of the founding management team at Paternoster in 2006 and transferred to Rothesay Life when it bought Paternoster in 2011. For 8 years I worked on the insurance side of the business structuring and negotiating buy-ins, buy-outs and longevity swaps including some of the first buy-ins (eg the £813m buy-in for P&O in 2007), the £3bn longevity swap for BMW in 2011 and buy-outs for a number of clients including InterContinental Hotels (£440m). Since joining LCP in March 2014, I have advised the Philips Pension Fund Trustees on 4 buy-in transactions, leading to a full buy-out (totalling over £3.5bn) and Total on its £1.6bn collateralised buy-in.
- Governor and chair of the finance committee of my children's primary school in Wandsworth
- Regular supporter of the charities Child Bereavement, Cure Parkinsons and Future Talent (a charity that supports young musicians)
"Myles Pink, Clive Wellsteed, Charlie Finch, Michelle Wright, David Salter, Dave Stewart are a good example of how a team enjoy their subject material.
Example, on the day after the PRA released guidance on Solvency II (prior to its implementation), a member of the LCP team rang us up to discuss the implications - no other de-risking team did that."
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How I can help
We are market leaders at each stage of de-risking, including planning, investment strategy, transactional services and wind up.
Cost increases mean that it is essential for every independent school to consider their participation in the Teachers’ Pension Scheme carefully. We can help decision-makers decide whether the TPS is right for your school and, if not, what other provision could be proposed. We can also support you through the consultation process, communicating with your teachers with clarity, empathy and honesty.
LCP LifeAnalytics is a unique tool that allows you to measure the longevity risk in your pension scheme.