Hymans Robertson, a prominent pensions and financial services consultancy, has released a paper advising trustees of defined benefit pension schemes to prioritize non-price factors when selecting insurers for buy-in or buy-out transactions. While price remains important, trustees should also consider aspects such as administrative capabilities, operational resilience, and insurers’ commitment to environmental, social, and governance (ESG) issues. The report emphasizes the need for insurers to demonstrate strong administration processes, data management, and robust security measures. Paula Haughton, a Senior Actuarial Consultant at Hymans Robertson, highlighted that a comprehensive assessment of these factors can lead to more satisfactory outcomes for scheme members.
