Reinsurance News

Hymans Robertson adds Lara Desay to risk transfer team

7th October 2022 - Author: Matt Sheehan

Pensions and financial services consultancy Hymans Robertson has announced the addition of Lara Desay as a Partner and Risk Transfer Specialist.

Desay joins from Scottish Widows where she was Head of Origination and Operations for its bulk annuity team.

Prior to joining Hymans, Desay played a key role in a number of significant risk transfer transactions including £15 billion of transactions between the Lloyds Banking Group pension scheme and Scottish Widows.

She also led the execution of Scottish Widows’ largest transaction to date, the £880m buy-in with the Littlewoods Pension Scheme, as well as their £510m transaction with the Aon Retirement Plan.

“We are thrilled to welcome Lara to Hymans Robertson and I know she will be a brilliant addition to our risk transfer team with her impressive transaction experience,” said James Mullins, Partner and Head of Risk Transfer Solutions at Hymans Robertson.

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“The continued growth of our team will enable us to help even more pension schemes to insure their liabilities through buy-ins, buy-outs, longevity swaps and other alternative forms of risk transfer,” Mullins continued.

“We know from experience that trustees and sponsoring employers really value working with a consultant who has previously worked for insurance company buy-in teams and so has a clear understanding of how to get the best results from the insurers.  This is particular important in a busy market, with our analysis showing that over £50bn a year of buy-ins are expected on average over the next five years.”

Desay also commented: “I am really pleased to be joining Hymans Robertson at such an exciting time for the risk transfer team, and the market more broadly as we head into a busy period for buy-in transactions. I look forward to leading many more ground-breaking transactions and working to capture the best risk transfer solutions for our clients. Hymans Robertson’s risk transfer team is committed to providing tailored advice to each client, and I am delighted to be a part of this.”

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