LONDON, 14 July 2025 –
Aon plc (NYSE: AON), a leading global professional services firm, has provided the Honda Group UK Pension Scheme with administration, governance and covenant support during its buy-in transaction with Legal & General (L&G).
CThe buy-in covers the whole scheme, which has assets of approximately £800 million and 4,700 members. The transaction was achieved using an innovative funding structure, enabling the Trustee to accelerate the process of de-risking the scheme.
Aon is a long-standing adviser to the Honda scheme. For this transaction, Aon supported the Trustee in understanding the implications of insurance for members’ experience and security.
Ray Runza, chair of Trustees of the Honda Group UK Pension Scheme, said:
“Aon has provided the Trustee with invaluable governance, administration and covenant support for a number of years and its support has been crucial in achieving this milestone for our members. Through the buy-in process, Aon helped us understand the impact on the service we will receive and the impact on the security of our members’ pensions. I look forward to working with them through the period of significant transition ahead.”
Mandy Davies, senior consultant at Aon, said:
“The collaboration achieved between the scheme’s trustees and advisers, Honda, and Aon’s governance and administration teams has ensured a smooth and well-governed process, underpinned by robust data and strategic alignment.
“We used our assessment framework focused on capital, covenant and control, to understand the strengths and weaknesses of the scheme’s security before insurance. As pension schemes consider an ever-expanding range of endgames, Aon’s solution-neutral approach provides a balanced perspective on the implications for benefit security."
About Aon
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