Pensions - Articles - Western Pensions advises on 19 million pound buy-in

 Christopher Doggett, Finance Director for Jarrold & Sons Ltd, said: “We are very pleased with this outcome. This was our first insurance transaction and marks another important step towards our ultimate goal of fully securing the futures of our scheme members and providing longer-term stability for shareholders.”

 Ben Fowler, Managing Director of WPS, said: “We were set a challenging target by the company, so I’m really happy to have showcased how great results can be delivered with careful preparation, specialist expertise and targeted engagement with the insurance market.

 “Smaller schemes can often find it difficult to find solutions for their need to manage risk, due to lacking the scale of finance and resource that larger schemes can utilise. With our unique insight into the family business field we have shown how positive outcomes can be achieved, both in terms of attractive pricing and a smooth transaction process.”

 Toby Holmes, BPA Deal Manager for Aviva, added: “We’re especially pleased to have been selected as the provider for this scheme, given the proud association both our companies have with Norwich. Working to clearly defined and comprehensive requirements, set by WPS, made it easy for us to work towards the ideal solution for the scheme and members alike. Having worked very closely with both Trustees and advisers throughout the process, we hope to build on this strong working relationship in the future.”

 Jarrold and Sons Ltd were advised by WPS. The scheme’s trustees were advised by Barnett Waddingham LLP, Berkeley Burke & Co Limited and Mills & Reeve LLP.