Barnett Waddingham: Bulk Annuities team grows with experienced new appointment

15 March 2024

We’ve welcomed experienced risk transfer specialist Nikhil Patel to our bulk annuities team as Senior Risk Transfer Actuary.

Nikhil joins from Mercer where he spent two years in their risk transfer team. He also led the risk transfer business at PwC during a 14-year stint, which saw him advise trustees and corporate sponsors on funding, full scheme buy-outs, investment and risk management solutions. Nikhil is also a Fellow of the Institute and Faculty of Actuaries.

Nikhil’s focus will be collaborating with trustees and sponsors of defined benefit (DB) pension schemes of all sizes and identifying and implementing appropriate risk transfer solutions.

His extensive career has seen him work across complex full scheme pension buy-ins and buyouts ranging from £5m to £4bn+ in size, advising trustees on complex features, such as residual risk and single premium transactions. He has also advised corporate sponsors on the risk and costs associated with a risk transfer project and supported the decision-making process, including at board level.

Significant recent transactions for Nikhil include leading on the £600m buy-in for the ITV Pension Scheme, the £300m buy-in for the William Hill Pension Scheme and the £330m buy-ins for some of the Unisys’ pension schemes. Nikhil has also advised on some of the milestone transactions completed in recent years.

“Nikhil’s reputation for excellence in the risk transfer market precedes him, and we are delighted to welcome him to our growing team.”

Rosie Fantom
HEAD OF BULK ANNUITIES AND RISK TRANSFER PARTNER

Nikhil says “I am delighted to have joined the risk transfer team at such an exciting time in this market.”

“With buyout volumes projected to break records again in the coming years and the emergence of credible alternative solutions, I am really looking forward to contributing to the growth of the team and adding to Barnett Waddingham’s (BW) strong reputation in the pensions market.”

Nikhil Patel
SENIOR RISK TRANSFER ACTUARY

Source: Barnett Waddingham