Royal London, a UK mutual life, pensions, and investment provider, has completed an £85 million buy-in with The College of Law Pension and Assurance Scheme as part of its Bulk Purchase Annuity (BPA) business.

This transaction, completed in March 2025, marks Royal London’s ninth BPA buy-in, bringing the total value of insured liabilities in its BPA business to £1 billion.

This achievement follows £600 million in premiums from two internal pension scheme transactions in November 2023 and January 2024, alongside £400 million in premiums from external pension scheme transactions.

For this deal, the Trustees of The College of Law Pension and Assurance Scheme received advice from Hymans Robertson and Linklaters, while Royal London was advised by Hogan Lovells.

Throughout the process, Royal London worked with the pension scheme Trustees and their advisors to ensure the BPA transaction met the affordability requirements of the Scheme while staying competitive on pricing.

Since entering the BPA market in September 2024, Royal London has made steady progress, with ongoing discussions with three other pension schemes to finalise additional transactions.

Mark Sharkey at Royal London added: “We’re thrilled to reach this important milestone as a business with The College of Law Pension and Assurance Scheme transaction. We’ve been in discussions with Tiziana and the wider Trustee Board since late last year. It was a real team effort with them and Hymans Robertson to ensure everything was ready for when the ‘affordability stars’ aligned.

“Our clearly differentiated proposition in the BPA market continues to really resonate with trustees. We’re excited to welcome this Trustee Board and their 500 members to the Royal London family and show them our mutual-led ambition in action.”

Claire O’Neill, Senior Risk Transfer Consultant at Hymans Robertson commented: “It has been a pleasure to work with the Trustees over many years on their de-risking journey. Diligent preparation has meant that the Trustees were well-placed to move quickly to capture the opportunity to insure members’ benefits at an accelerated pace. We look forward to continuing to support the Trustees in the important post-transaction work.”

Tiziana Perrella of Dalriada Trustees said: “The Trustees worked closely with their advisers and Royal London, navigating a period of significant market volatility, and were delighted to complete a final buy-in with Royal London so that scheme liabilities are now fully covered by insurance contracts.

The Trustees conducted an in-depth due diligence analysis of Royal London’s financial position and administration capabilities as part of their decision-making process and were satisfied that they were a robust and reliable counter party for the transaction.”

The post Royal London secures £85m buy-in with The College of Law Pension Scheme appeared first on ReinsuranceNe.ws.