Mantle Services supports Utmost Life and Pensions with entry into bulk purchase annuity markets

Mantle Services (Mantle), the global pensions software provider and part of the 3173 Group of companies alongside Dalriada and Spence & Partners, has partnered with Utmost Life and Pensions (Utmost) to support its successful entry into the bulk purchase annuity (BPA) market.

 

After a successful procurement process, Mantle was appointed by Utmost in Q3 2024 to support its BPA offering, which aims to address the significant demand for pension risk transfer in the UK. Mantle was chosen due to the flexibility and advanced functionality of its software which provides valuation and benefits calculations and fully automates pension administration processes.

 

As part of Mantle’s long-term agreement with Utmost, it will provide end-to-end support through every stage of the risk transfer process, including quotations, buy-in administration and in-house administration services upon buyout. This will enable Utmost to provide an effective onboarding process and an efficient migration from buy-in to buyout, all within a single platform.

 

In addition to supporting Utmost in pricing BPA opportunities, Mantle’s software will be used for actuarial reporting on successful deals and to provide software which allows policyholders to calculate benefits, access their own data and make their own choices. This will enhance operational efficiencies at Utmost Life and Pensions as it embarks on the next phase of its growth.

 

James Whittingham, Managing Director of Mantle Services, said: “Partnering with Utmost Life and Pensions to support its entry into the bulk purchase annuity market represents a key milestone in the growth of our business. This long-term, fully integrated partnership with a trusted and reliable pensions provider is a testament to the versatility of our software platform and the positive experiences it can deliver for policyholders. We hope that the technological enhancements that Mantle provides will serve as a positive differentiator for Utmost Life & Pensions and help to drive the commercial value of the business in the next phase of its growth.”

 

Chris Tucker, Senior Client Manager of Mantle Services, commented: “We are delighted to partner with Utmost Life and Pensions as we embark on this exciting journey together in the BPA market. This collaboration marks the beginning of a strong, mutually beneficial relationship, and we’re confident that our innovative pension technology solutions will help drive both of our companies’ growth in this dynamic space. As we continue to expand and evolve in this market, we look forward to working closely with Utmost to deliver exceptional value and support their long-term success.”

 

Andrew Stoker, CEO of Utmost Life and Pensions said: “Our partnership with Mantle, is a key part of our successful entry into the BPA market, allowing us to provide an attractive BPA proposition and to deliver excellent customer service.”

 

Gary Needham, Head of BPA Business Development added: “It’s been a pleasure working with the Mantle team and I’ve been impressed with their knowledge, expertise and enthusiasm for working with Utmost to develop a market leading actuarial and data platform to serve the bulk annuity market.  I firmly believe that the end-product will truly set us apart in the market and provide a seamless journey to both Trustees and their scheme members.”

Ends

 

For further information please contact: Henry Conner at henry.conner@Edelmansmithfield.com or on +44 (0)7709 577 073  

Susan O’Neill at susan_oneill@mantleservices.com or on 02895 210 225

 

Mantle Services

Mantle Services is a pension software development business with a difference.

 

Our solutions range from Administration and Actuarial platforms to Asset Liability Management and much more.

We have designed our modern, contemporary solutions to deliver the outcomes schemes and advisers need now, without the baggage of legacy systems.

 

We license our software to in-house pension schemes and to third party administrators, actuarial firms and buy-out providers.

 

About Utmost Life and Pensions

 

Utmost Life and Pensions operates both a closed UK life and pensions business and a bulk purchase annuity business. Utmost Life and Pensions manages £5.6bn of primarily unit-linked policyholder assets on behalf of over 290,000 policyholders. Utmost Life and Pensions is authorised by the PRA and regulated by the FCA and the PRA.