Rothesay completes £105m buy-in for Mativ Holdings
We are delighted to have completed a full scheme buy-in for two separate pension schemes (the “Schemes”) which have the shared parent employer, Mativ Holdings Inc, a leading global specialty materials company.
In total, the £105m buy-in protects the pensions of 1,341 members across both Schemes.
The transaction insures all £100m of pension benefits for the Scapa Group Limited Pension Scheme, sponsored by Scapa Group Limited, securing the future for all of the scheme’s 843 pensioners and their dependants as well as 413 deferred members. The buy-in also insures all £5m of benefits for the Fibermark UK Pension Plan, sponsored by Neemah Red Bridge International Limited, which protects each of the scheme’s 37 pensioners and dependants and a further 48 deferred members.
Roisin O’Shea, Business Development at Rothesay, commented: “Rothesay is committed to providing bespoke de-risking solutions for all of its clients and we are pleased to now protect the pensions of both Schemes, delivering on the Trustees’ commitment to secure the future for their members. The pension risk transfer market continues to be busy and competitive as schemes of all sizes seek an insurance transaction as part of their long-term endgame strategy.”