Management Consulting
Aon
Full Credential Description
In 2019, Aon faced a significant challenge in the bulk annuity market, where the demand for pension risk settlement was surging. The company identified that over £25 billion of pension scheme risk had been transferred to the insurance market through just eight large transactions, marking a record-breaking year. Notably, the largest transaction was telents £4.7 billion buyout, and the National Grid UK Pension Scheme executed the largest buy-ins to manage risk to date. This surge in large transactions created a competitive landscape, necessitating tailored de-risking solutions for pension schemes. To address these niche issues, Aon implemented bespoke strategies that allowed large pension schemes to navigate the complexities of the market effectively. The firm advised on £20 billion of completed buy-ins and buyouts in 2019, demonstrating its leadership in the sector. Aon recognized the implications of large transactions on insurer capacity and developed streamlined approaches to present deals to insurers, enabling smaller schemes to compete for attention in a busy marketplace. The quantifiable results of Aon's tailored solutions were evident as the volume of pension scheme liabilities transferred to insurers exceeded the previous annual record, showcasing Aon's ability to adapt to market dynamics and provide significant value to its clients. The proactive strategies employed by Aon not only facilitated record-breaking transactions but also positioned the firm as a key player in the evolving landscape of pension risk management.