At the end of the first quarter, Paternoster says it has taken on a further eight schemes which have transferred a total of £520m of assets to the company.
This brings the total assets transferred to Paternoster to £2.1bn.
Paternoster has now been approved as the annuity provider to members of 37 schemes representing 22,800 pensioners, 10,000 deferred members and over £7m of monthly annuity payments.
Paternoster chief executive Mark Wood says: “The overall business secured in the market in Q1 2008 exceeds £2.5bn. In twelve weeks, the total business written is the same as that written in the previous twelve months. The market appears to be growing very rapidly.”