PARTNERSHIP HIRES DIRECTOR OF DEFINED BENEFIT SOLUTIONS
Specialist Insurer – Partnership – has appointed Costas Yiasoumi as Director of Defined Benefit Solutions.
Costas will bring over twenty years of experience in the bulk annuity industry as well as his credentials as a commercial actuary to this newly created role. His background in de-risking corporate pension schemes includes roles as Head of Longevity Solutions at Swiss Re, Executive Director at JP Morgan Chase and European Principal at Mercer Human Resource Consulting.
This appointment strengthens Partnership’s commitment to growing the medically underwritten bulk annuity market and follows the recent announcement of a £30m deal with a UK manufacturer’s pension scheme. Costas will be responsible for developing the company’s bulk annuity business further to ensure that corporates, trustees and consultants are able to transact with Partnership in the most appropriate and efficient way.
Andrew Megson, Managing Director of Retirement, Partnership said:
“Partnership was the first company to undertake a medically underwritten bulk de-risking deal and this appointment will help to keep the company at the forefront of industry developments. I am therefore delighted to welcome Costas to Partnership and look forward to working with him in the future.”
Costas Yiasoumi, Director of Defined Benefit Solutions added:
“UK defined benefit pension exposures exceed a trillion pounds and each year several billion pounds are insured using bulk annuities. Partnership already has a successful presence in retail annuities through its medically underwritten annuity proposition. I look forward to leveraging this platform and proprietary mortality expertise to deliver bulk annuity solutions to UK defined benefit pension schemes. ”