Schroders to oversee £400m in Utmost Life and Pensions partnership. Source: Shutterstock

Schroders has been appointed by Utmost Life and Pensions (ULP) to manage nearly £400m ($507m) in assets following the insurer’s successful entry into the bulk purchase annuity (BPA) market.

After Utmost Life and Pensions completed two external pension scheme deals in late 2024, the partnership was formed, and Schroders is currently managing the funds.

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Additionally, the insurer, which is a member of the Utmost Group, has just entered the BPA market, which is expected to see transactions of over £400bn over the course of the next ten years.

As part of the collaboration, Schroders will provide investment expertise, including liability-driven investing, derivative hedging, and credit portfolio management. The partnership is expected to strengthen ULP’s offering in the growing pension risk transfer market.

James Barham, executive chairman of Schroders Solutions, stated: “Utmost Life and Pensions has developed a strong and credible offering to address the significant demand for pension risk transfer in the UK, having established a healthy pipeline for 2025. We are delighted to partner with Utmost to support the firm in achieving its investment objectives.”

With the goal of offering specialised solutions for pension plans, ULP has assembled a team of more than 20 experts to concentrate on the BPA industry. The growing demand from trustees looking for safe, long-term pension solutions is reflected in the company’s growth.

Craig Baker, Chief Investment Officer at Utmost Life and Pensions shared: “We are pleased to be working in partnership with Schroders during this exciting time for Utmost Life and Pensions. Schroders’ expertise will play an important role in shaping the compelling proposition we are building for pension scheme trustees and members. Together, we are confident that we can deliver innovative solutions that meet the evolving needs of our clients.”

With the BPA market continuing to grow, the Schroders-ULP collaboration positions both firms to capitalise on rising demand for pension risk transfer solutions.