Management Consulting
Aon
Full Credential Description
Aon acted as the lead trustee adviser for the Asda Group Pension Scheme in a significant transaction involving a £3.8 billion full scheme buyout with Rothesay Life. This buyout was crucial for securing the long-term benefits of approximately 12,300 members of the pension scheme. Aon's role included providing settlement and actuarial advice, which involved preparing and structuring the transaction to ensure that all members' benefits were fully insured. The firm also facilitated direct engagement and negotiations with the insurance market on behalf of the Trustee. The transaction was particularly complex due to the size of the scheme and its liability profile, occurring during a period of heightened market volatility and uncertainty in the political landscape. Aon's collaborative approach with all stakeholders was essential in achieving a successful outcome. The firm implemented innovative features and established a bespoke governance structure that allowed for effective decision-making throughout the process. This strategic support not only secured the members' benefits but also highlighted the growing trend of full scheme buyouts in the bulk annuity market, showcasing Aon's expertise in navigating such intricate financial landscapes.