Industry split on buyouts

he managers of two insurance-based UK pension buyout start-ups outlined their business objectives at the Life & Pensions summit conference in May. However, others warned of obstacles to be overcome before a potential £1 trillion buyout market in final salary pension liabilities can develop.

Addressing a panel discussion at the conference, Mark Wood, chief executive of £500 million buyout company Paternoster, said there were four reasons that made his business model compelling. He spoke of the