ACT Webinar: Part 2 - Defined benefit pension risk - getting the job done | The Association of Corporate Treasurers

ACT Webinar: Part 2 - Defined benefit pension risk - getting the job done

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20 June 2024
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Discover opportunities and challenges when transferring a pension fund to an insurer

In part two of this series of webinars with Cardano, we explored the practical opportunities and challenges of transferring a pension fund to an insurer. 

We were joined by the former Global Treasurer of Walgreens Boots Alliance, Aidan Clare, and Cardano’s Head of Risk Solutions, Adolfo Aponte, who last year completed the £4.8 billion full buy-in with Legal & General – the largest single transaction of its kind in the UK. Also presenting was Andreas Vermeiren, CFA, Director, Cardano.

 

Building on this record-setting transaction, our expert speakers
  • explored the role a corporate can play in shaping the strategic direction of its pension fund
  • identified the options available to help manage these arrangements as funding levels improve
  • unpacked the case for an insurance buy-in transaction
  • discussed the relevant stakeholders and how to keep them engaged
  • looked at the practical challenges facing other large schemes looking to transact with an insurer
  • identified how to make the most of the opportunities of tapping the insurance market.

Meet the Speakers

Aidan Clare

Former Global Treasurer

Walgreens Boots Alliance

Aidan Clare is a highly experienced corporate treasurer having held Treasurer roles in leading international groups in the UK, US, Switzerland and Ireland. He worked at Walgreens Boots Alliance (WBA) as Global Treasurer and as SVP Corporate Finance and Strategy from 2015 until earlier this year, when he started a career sabbatical. WBA is a Fortune 25 Healthcare company.

Aidan led the sponsor effort to deliver the full buy-in of Boots Pension Fund – a £4.8 billion transaction completed in late 2023 with Legal and General.

Adolfo Aponte

Managing Director Risk Solutions

Cardano

Adolfo leads Cardano’s growing Risk Solutions practice, which supports trustees, corporates and asset owners on a wide range of underwritten, risk-transfer structures, including bulk purchase annuity contracts and longevity swaps. The team have advised on the transfer of over £40bn of pension liabilities since 2014.

Andreas Vermeiren

CFA, Director

Cardano 

Andreas joined Cardano in 2023 from Phoenix Group where he was a member of the Asset Management team.

At Phoenix Asset Management, Andreas was responsible for the end-to-end investment process, supporting the Group’s Bulk Purchase Annuity (BPA) business. He has been involved in the transfer of c.£10bn of pension liabilities, across buy-ins and buy-outs.

At Cardano, Andreas is a member of the Advisory Group, leading on Investment Strategy and Corporate engagement.

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ACT Webinar: Part 2 - Defined benefit pension risk - getting the job done

20 June 2024

12:30-13:30 BST

Watch it on-demand here

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