Michael Luo

Associate Director

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Michael joined Lincoln Pensions in November 2017 following four years at EY and then three years at KPMG as an actuarial consultant, where he advised corporate sponsors of defined benefit pension schemes on managing their DB pension risk.

During his time at Lincoln, Michael has advised both sponsors and trustees across a range of industries including retail, construction, technology and not-for-profit. In addition to carrying out employer covenant assessments and supporting trustees through funding negotiations during triennial valuations, Michael also has significant experience in advising on the impact of corporate transactions. In addition, Michael is also a core member of Lincoln’s specialist insurance team which assesses counterparty risk during insurance-led pensions risk transfer transactions such as buy-ins and buy-outs.

Some of Michael’s notable recent projects include:

  • Advising the corporate sponsor on the covenant impact of a proposed business sale, including the consideration of possible mitigation options;
  • Advising the trustees to implement a mitigation package in response to a FTSE100 sponsor’s proposal to demerge its UK business;
  • Helping the trustees and sponsors understand the security and risk implications of transacting with shortlisted insurers as part of a buy-in (transaction size of over £3bn)

Michael holds a BSc and MSc in Economics from the University of Warwick, and qualified as a Fellow of the Institute of Actuaries in 2016.

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