Actuarial and advisory consultancy firm, Hymans Robertson, has promoted Kieran Mistry to Head of Non-Traditional Risk Transfer.
He will be leading the firm’s advisory service supporting DB pension scheme trustees and sponsors considering new and emerging risk transfer options, including superfunds, capital backed solutions, and alternative insurance products.
Since joining Hymans in 2014, Mistry has advised numerous pension funds ranging in size from under £10 million to over £5 billion on their risk transfer and endgame strategies.
More recently, Mistry has increasingly focused on supporting schemes considering emerging solutions, including early superfund candidates.
James Mullins, Partner and Head of Risk Transfer at Hymans, said: “Non-Traditional Risk Transfer options have an important role to play in helping to reduce risk for pension schemes that cannot afford full buy-out.
“Kieran brings extensive skills and experience, as well as a lot of enthusiasm, to the leadership of this area. By establishing a specific team to help our clients in the new and emerging risk transfer options we’ll be able to help them fully benefit from the innovation in this part of the market.”
Mistry added: “We’ve seen rapid growth in the number of risk transfer options available over recent years. Capital providers continue to look for new ways to support schemes other than through traditional solutions such as buy-ins, buy-outs and longevity swaps.
“While superfunds are grabbing much of the headlines, other areas are quietly gaining traction with some getting first transactions over the line in 2020, and many more being developed.
“This innovation is certainly timely, adding valuable tools to help trustees and sponsors looking to manage risk against an historically tough economic backdrop.
“I’m thrilled to take the lead on this advisory service to ensure our clients are able to assess and utilise these new risk transfer tools, incorporating into their endgame strategies, to support better outcomes for their members.”