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BMO Insurance will issue annuities covering the responsibility for pension benefits of approximately 860 pensioners and beneficiaries.
£63m deal covers the pensions of all 570 members.
The average multiple delivered to American Seniors who sold their policy in the secondary market last year was more than six and a half times the cash surrender value.
In a rare bright spot for the product, growth was observed in the 61+ age cohort.
In his new role, Polanskyj will chair Obra’s Investment Committee.
The transaction, completed in January 2025, secures the benefits of all 869 Scheme members which comprises 471 pensioners and dependants as well as 398 deferred members.
£280m deal secures the benefits of approximately 2,800 members.
The transaction releases capital resources that Monument will redirect to its core strategy of consolidation in European life insurance markets.
The aggregate funding position of UK defined benefit pension funds potentially eligible for entry to the country’s Pension Protection Fund fell £13bn last month to £202.5bn, a funding ratio of 122.8%.
During March, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process climbed from 101.7% to 102.5% of a plan’s accounting liabilities.