A specialist provider of pension risk management solutions

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1 A specialist provider of pension risk management solutions

2 Our solutions are backed by our strong capital position and financial strength, and built upon over 90 years of pension risk management experience in the US.

3 METLIFE ASSURANCE MetLife Assurance Limited is authorised and regulated by the UK Financial Services Authority, providing bulk annuity solutions for occupational pension schemes. Our team of pension and actuarial experts deliver tailor made solutions combined with a high level of customer service and care. We are a subsidiary of MetLife Inc., with more than 140 years of experience providing an extensive suite of insurance, annuity and pension related products and services to its individual and corporate clients. We replace the uncertainty of pension scheme risk with the security of an insurance contract, offering a range of full, partial and tailored pension risk management solutions. Our solutions are backed by our strong capital position and financial strength, and built upon over 90 years of pension risk management experience in the US. Clients of MetLife Assurance and their scheme members can feel secure in our dedication to providing their pension benefits with a high level of service and customer care.

4 THE DE-RISKING OF A PENSION SCHEME More than ever before, the pensions landscape presents challenges and uncertainty around the management of occupational pension scheme liabilities. Many companies are putting their pension scheme s financial performance under the microscope. CEOs and other executives are intent on better understanding the pension scheme environment and its relationship to the overall financial performance of their businesses. Since risks associated with pension schemes can impact a variety of corporate performance measures, company executives and trustees are increasingly taking concrete steps to de-risk their pension schemes. Sponsoring employers and trustees need to understand all the key risk factors affecting their pension scheme, especially the high impact areas such as investment, interest rate, inflation, operational (data), and longevity risks. The major thrust of any de-risking exercise is to understand and measure the risks to which the scheme is exposed and then select asset, benefit and insurance strategies to reduce or eliminate those risks. Working closely with trustees and their advisers, MetLife Assurance provides insurance solutions that help pension schemes manage these risks.

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7 PENSION RISK MANAGEMENT OBJECTIVES No two pension schemes are exactly alike. Financial goals, retirement benefit philosophies, investment profiles and scheme member characteristics can vary greatly. Therefore, there are different pension risk management approaches worth exploring. We understand that companies may look to transfer the risks associated with defined benefit pension schemes for a variety of reasons. Some of our clients have expressed a desire to: Replace uncertainty of investment market returns with an insurance policy. Utilise the value of pooling longevity risk to protect scheme assets against the risk that their particular members live longer than average. Benefit from the safeguards afforded within an insurance regime under the solvency capital requirements, particularly where the sponsoring employer is smaller, weaker, or even non-existent compared to when the scheme was established. Having an objective specific to scheme need is an important part of the risk transfer decision, and our approach with each client is based fundamentally on understanding and meeting that objective.

8 SOLUTIONS FOR TODAY, TOMORROW AND BEYOND MetLife Assurance helps its clients consider all de-risking approaches. Here are some examples of the potential solutions we can offer: Full or partial buyout The transfer of a scheme s full or partial liabilities to MetLife Assurance in exchange for a single premium. Full or partial buy-in The transfer of a scheme s full or partial liabilities to MetLife Assurance as part of a strategy to reduce risk. A single insurance policy is secured in the name of the trustee, and held as an investment within the continuing scheme structure alongside any other scheme assets. Other customised solutions Since many schemes have unique features and member benefit types, we can create a custom solution to maximise the outcome and minimise the risk to the scheme. Some customised solutions incorporate phased arrangements or distribution of surplus options, others focus on the need for certainty on asset values, liability values and transaction language at the point of selecting the provider. Financial strength Our ability to offer financial security is one of MetLife Assurance s greatest strengths, and maintaining that strength is among our highest priorities. Insurance guarantees are backed by the financial strength and sustainability of the provider and MetLife Assurance is well capitalised, highly rated for financial strength 1 and dedicated to maintaining its prudent approach to investment strategy and disciplined risk management. We are committed to maintaining the required capital standards and prudent reserves. 1 For current ratings information and a more complete analysis of the financial strength of MetLife Assurance Limited, please go to

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10 UK DRIVEN WITH A US HERITAGE MetLife Assurance is a wholly owned indirect subsidiary of MetLife Insurance Company of Connecticut which is a member of MetLife, Inc. (MetLife). MetLife s strength, stability and commitment to its policyholders has been demonstrated for over 140 years in the United States. MetLife Assurance builds upon the rich heritage of MetLife, the largest life insurer based on life insurance in-force and one of the largest insurance and financial services groups in the US. MetLife is one of the most trusted financial institutions in the US. In 1921, Metropolitan Life Insurance Company was the first company to issue a group annuity contract. MetLife s group life and group annuity contracts are principally issued through Metropolitan Life Insurance Company and MetLife Insurance Company of Connecticut, both operating companies of MetLife, Inc. MetLife Assurance discipline, commitment and client focus Our board and management team is comprised of experienced pensions and risk management professionals, expert in actuarial, investment and risk management disciplines. They are committed to providing pension solutions that help our clients better manage their risk. MetLife Assurance is committed to being a steadfast and trusted provider of pension risk transfer solutions. We utilise a close working relationship with trustees to develop and deliver an appropriately customised solution based on their objectives and scheme needs. We understand the importance of delivering quality service, and are dedicated to delivering a high level of customer care. Our aim is to ensure scheme members receive the benefits secured for them and their dependents throughout their respective lifetimes. We have made the Financial Services Authority s principles for Treating Customers Fairly (TCF) a fundamental part of all our business activities.

11 We encourage you to visit our website at

12 MetLife Assurance Limited 15 Bedford Street, London WC2E 9HE Our materials are available on request in braille, large print or audio format. To make a request please contact: malgeneralenquiries@metlife.com or call + 44 (0) H2 Creative 10987H2 BR METLIFE, INC Peanuts Worldwide LLC. MetLife Assurance Limited is a wholly owned subsidiary of MetLife, Inc. and is authorised and regulated by the UK Financial Services Authority. MetLife Assurance Limited is registered in England and Wales with company number Registered Office: 15 Bedford Street, London WC2E 9HE. 0023corbuk0812