New insurer 'to cut buy-out costs' for DB schemes

Long Acre Life will use mutual concept to reduce ultimate buy-out cost for pension funds

David Norgrove

An insurance company is being launched, which claims it can slash the cost of pension scheme buy-outs.

Long Acre Life is targeting UK defined benefit schemes with liabilities in excess of £500 million, and aims to reduce the cost of a buy-out by up to 20 percentage points, compared with the cost of a traditional insurance buy-out.

The initiative, launched by a former chairman of The Pensions Regulator, is based around a mutual insurance solution, owned by schemes, sponsors and outside investors

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