Mark Wood, the former chief executive of Prudential's UK life business, said his Paternoster insurance company had secured £412m of corporate pension scheme liabilities at the end of the first quarter, writes Andrea Felsted.

Paternoster had assets under management of £260m, a 111 per cent increase on the final quarter of 2006. It had been approved to take on the pension commitments of 19 schemes, with 8,700 members, he said.